Shannon Thorp, a Wall Street Veteran and notable figure in the crypto space, has addressed her bold prediction regarding the price trajectory of XRP, admitting its failure to materialize as anticipated.
Thorp’s projection, which garnered attention within the community, speculated that XRP could soar to values between $100 and $500 within a span of four to seven months from July 30, 2023.
Read Also: Banking Expert: XRP Cannot Stay Affordable For Long, Retail Investors to Be Priced Out
Despite the buzz generated by her forecast, the market did not align with her expectations as XRP’s price trajectory took a different course.
In a new post on X, Thorp openly acknowledged the expiration of her prediction window, characterizing the experience as “bittersweet.” Reflecting on the outcome, she delved into the factors that influenced the XRP landscape over the past months, particularly since the regulatory clarity surrounding the digital asset.
Well, if you’re still with me today then you’ll know my $XRP price opinion expired as of midnight last night. It’s honestly bittersweet but look how far we’ve come and everything that has transpired since clarity. We’ve endured with what feels like a never-ending lawsuit at the…
— Shannon Thorp (@thorpshannon87) March 1, 2024
Thorp highlighted significant events, including industry conferences, partnerships, and the Ripple Proper Party, emphasizing their impact on shaping perceptions of XRP within the crypto community. She thanked Steven Nerayoff, Digital Asset Investor, and other prominent figures for their contributions. She stated that XRP cannot fail because of the attention and its value, adding, “I know what I hold.”
Despite the setback in her forecast, Thorp reiterated her confidence in the resilience of XRP, questioning whether recent challenges would undermine its long-term viability. She remains optimistic about the prospects of XRP, citing its ability to withstand adversity and adapt to changing market conditions.
She highlighted XRP’s position in the top ten cryptocurrencies, pointing out that no other tokens could remain in the top ten after passing through the trials XRP has faced.
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— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: XRP to $100 or $500 Forecast: Two Experts Debate the True Value of XRP
What’s Next for XRP?
The foundation of Thorp’s initial forecast rested on the assessment of XRP’s potential within the multi-trillion-dollar cross-border payment market. She argued that a low-priced XRP would not be compatible with the scale and requirements of such a market, driving her bullish outlook on the cryptocurrency’s value.
At the time of her forecast, XRP traded at $0.712, with Thorp envisioning a staggering growth rate of over 70,000% by February 29. However, the actual performance of XRP fell short of these expectations and is currently trading at $0.6018.
Thorp’s candid admission of the unfulfilled forecast underscores the unpredictability of the crypto market and serves as a reminder of the importance of caution when investing.
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