The crypto world knows that XRP’s price has not been impressive. However, the crypto analysts are still optimistic about it and make bullish predictions. One analyst, BarriC, confidently predicts that XRP will eventually reach a four-figure price.
About XRP
XRP is a digital currency, or cryptocurrency, that runs on the XRP Ledger, a decentralised blockchain technology. Ripple Labs Inc. created it to make cross-border payments fast and affordable. It is a bridge currency for transactions between different fiat currencies or digital assets, making it popular among financial institutions and payment providers for its speed and low fees.
Unlike Bitcoin and Ethereum, XRP uses the Ripple Protocol Consensus Algorithm (RPCA) for transaction verification, resulting in quicker processing and less energy usage. XRP aims to change how international payments work by offering a more efficient and cost-effective solution than traditional payment systems.
What Barric Said
In a recent post on X, crypto analyst BarriC outlined why he believes XRP will eventually reach $1,000. He pointed out how Bitcoin’s unexpected rise to $73,000, starting from $330 in 2016, set a precedent. He also referenced other cryptocurrencies like Ethereum, Litecoin, Solana, and Dogecoin, which started at low prices but gained significantly over time. He sees a similar trajectory for XRP, noting its humble beginnings at $0.006 in 2017 before soaring to its all-time high of $3.80.
$XRP will never hit $1,000 …… right?
— BarriC (@B_arri_C) May 24, 2024
For anyone spreading such ridiculous FUD I keep one important thing in mind $BTC was $330 in 2016, no one knew it would got to $73,000$ETH was $10 in 2017, no one knew it would go to $4,000$LTC was $2.90 in 2016, no one knew it would…
BarriC argues that those doubting XRP’s growth “clearly don’t understand how crypto works.” He emphasised that XRP will eventually experience “explosive price action,” and the key is to hold until that moment arrives. He suggested that now is an opportune time to accumulate XRP, capitalizing on the current lack of widespread knowledge or enthusiasm for the token. This isn’t the first time BarriC has predicted XRP reaching $1,000.
He previously forecasted this milestone within the next five to ten years, driven by the influx of capital into the crypto space. He also mentioned the potential impact of Spot Bitcoin ETFs on Bitcoin’s price, suggesting a similar boost for XRP with the introduction of an XRP ETF and increased institutional demand.
Others Disapprove
Moon Lambo, the XRP YouTuber, argues that XRP’s price will not reach three figures. He says this is due to insufficient global liquidity to drive it that high. He believes that even with mainstream adoption and increased liquidity, XRP will only reach three digits after “many market cycles.”
In contrast, crypto analyst CryptoBull recently predicted that XRP could reach $154, though he didn’t specify a timeline. Similarly, analyst JackTheRippler forecasted that XRP would hit $100 once the legal battle between the Securities and Exchange Commission (SEC) and Ripple is resolved.
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