Crypto analyst Chad Steingraber has made an ultra-bullish price prediction for the XRP price, stating that the crypto token’s price could rise to three figures. The analyst also outlined when this price target will be attained.
XRP Will Hit $250 In This Market Cycle
Steingraber mentioned in an X (formerly Twitter) post that XRP will reach $250 by 2025, which he believes will represent the market top for the crypto token in this bull run. He made this prediction while stating that Bitcoin and Ethereum will hit $250,000 and $25,000 in 2025, which will also be their market top.
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Steingraber has previously provided several reasons why he is so bullish on XRP and believes the crypto token could attain such heights. He once alluded to a potential XRP ETF as one factor that could trigger significant price surges for XRP. He explained that an XRP ETF would give the crypto token an added utility as fund issuers for the XRP ETFs will direct their assets into an institutional liquidity hub.
He believes an XRP ETF will drive more demand for the crypto token, ultimately driving up its price when a supply shock occurs. Steingraber also believes that the Securities and Exchange Commission’s (SEC) lawsuit against Ripple is one of the factors suppressing XRP’s price up until now.
He had earlier claimed that XRP’s price wasn’t going up because new money wasn’t flowing into its ecosystem and affirmed that the crypto token would likely see an influx of new money once the SEC’s case against Ripple is over. Steingraber isn’t the only one who believes that XRP’s price could skyrocket and climb to three figures once the lawsuit ends.
Crypto analyst JackTheRippler also predicted that XRP would rise above $100 once the case ends. The analyst even gave a more bullish prediction than Steingraber’s, stating that XRP hitting $10,000 was achievable after the lawsuit. Crypto analyst CryptoBull also predicted that XRP could reach three figures, rallying 28,900% to $154.
XRP Price To $7.5 In The Meantime
Crypto analyst Egrag Crypto has suggested that XRP rising to $7.5 is the price target to watch before the crypto token reaches the heights analysts like Steingraber predict. In an X post, he stated that “$7.5 is target number 1.” Egrag went on to outline how this move to $7.5 will likely take place.
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Source: X
He stated he is highly convinced that XRP will break the white triangle (on the chart he shared) and hit the measured move at $1.5. From there, he expects XRP to make its move to $7.5. However, he warned that the Fib 1.618 zone where $7.5 is situated is “critical” and that a lot of profit-taking will happen there, suggesting that XRP could significantly decline once it reaches such heights.
Egrag added that the next targets for XRP will be “mid-double digits near Fib 2.414 & 2.618” if XRP archives a weekly close above Fib 1.618.
Featured image created with Dall.E, chart from Tradingview.com
Source: NewsBTC.com
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