Expert Maps Out Timeline For The XRP Price To Cross $1,000
09 April 2024 - 7:00AM
NEWSBTC
Crypto Expert BarriC has raised eyebrows with his recent analysis
of the XRP price, in which he stated that the crypto token could
rise to $1,000. As part of his analysis, he also elaborated on why
this price level is attainable and not an “arbitrary number” he has
pulled out for fun. When Will The XRP Price Rise To $1,000?
BarriC suggested in an X (formerly Twitter) post that the XRP price
will rise to $1,000 in the next five to ten years. He explained
that this would happen due to the new money flowing into the crypto
space during that period. Specifically, he alluded to the “400
trillion dollars of personal wealth” and also institutional money
yet to come into crypto, which could help drive up XRP’s
price. Related Reading: $115-Million Bitcoin Whale Wakes Up
From 10-Year Slumber – What’s Next? To drive home his point, he
drew his followers’ attention to the Spot Bitcoin ETFs and how they
have so far contributed to Bitcoin’s bullish momentum and price
surge. As such, he believes that XRP could also benefit from such
institutional demand once institutions begin to show interest in
other crypto ETFs like a potential XRP Spot ETF. BarriC boldly
claimed that to say that XRP will not hit $1,000 “is to say that
the entire crypto market as a whole will never grow or evolve or
that new money will not come in.” He also suggested that the only
way the XRP price wouldn’t hit $1,000 was if Ripple somehow failed
in everything they had set out to do. However, he believes
all that is unlikely and that the crypto space and Ripple will
continue to grow the same way they have since 2016, even though he
admitted that people “aren’t ready to fathom price action like a
$1,000 $XRP.” He added that this is the same way no one in 2016
could have fathomed Bitcoin at $74,000, but it eventually
happened. XRP To $2,500 Is Also A Possibility Crypto analyst
Egrag Crypto once raised the possibility of the XRP price hitting
$2,500 by 2029 while sharing his encounter with a top banker. Egrag
mentioned that the banker told him XRP would hit this price level,
and he agreed. Like BarriC, Egrag claimed that the banker spoke
about how ETH hitting $2,500 seemed impossible then, but it
happened. Related Reading: ADA Price Ready To Soar As Cardano
Network Hits New 88.6 Million Transaction Milestone However, XRP
YouTuber Moon Lambo will have reservations about these price
predictions. He once suggested that there isn’t enough money in the
world to drive XRP’s price to four or five digits. He also noted
that any new money that flows into crypto won’t only go into the
XRP ecosystem. As such, one can’t base such an ambitious price
prediction solely on money that has yet to come into crypto.
At the time of writing, the XRP price is trading at around $0.60,
up in the last 24 hours according to data from CoinMarketCap. XRP
price sitting at $0.6 | Source: XRPUSD on Tradingview.com Featured
image from CryptoRank, chart from Tradingview.com
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