The post Ripple Price Prediction: XRP Price Set to Hit $22, Analyst Sees 3,510% Growth by Next Bull Market appeared first on Coinpedia Fintech News
XRP currently stands at $0.619538, showing a 0.5% drop in the past 24 hours. The coin faces resistance at $0.66 while finding support between $0.55 and $0.51. Despite lingering below its all-time high of $3.84 for six years, many analysts anticipate a surge beyond $10 to $20 in the next bullish crypto market. Amidst this, sentiments around XRP remain mixed, with some cautious optimism regarding its future trajectory. One analyst is sure that XRP will break the current stagnant phase and make a move in 2024.
Patrick Riley, CEO of Reaper Financial, shared bold predictions for XRP’s future during an interview with Zach Rector, a pro-XRP YouTuber. Riley foresees a staggering 3,510% growth for XRP and boldly positions it as the potential successor to Bitcoin. His statements suggest that XRP might outpace Bitcoin’s position as the leading cryptocurrency during the forthcoming bullish cycle.
Moreover, he was not only critical of Bitcoin but also took a jab at Ethereum, highlighting its struggles with issues like high operational costs and network dysfunction. In contrast, he envisions a brighter future for XRP, mainly due to its advancements, such as introducing an EVM side chain. This innovation could lure ERC20 token projects to the XRP Ledger, offering a faster, cost-effective, and efficient network alternative.
XRP Price To Attain $22?
When discussing price projections, Riley boldly predicts the XRP Price will surge to $22 or higher during its next peak, suggesting it might sustain a value above $10 even during subsequent market downturns. However, he underlines that his projections aren’t intended as financial advice.
Analysts and market observers remain divided on the likelihood of XRP hitting these ambitious targets. Nonetheless, this surge would significantly elevate XRP’s market cap if realized, potentially surpassing Bitcoin’s valuation. However, such a scenario appears contingent on several factors, including unforeseen developments and Bitcoin’s market performance.
As the crypto market eagerly awaits potential market movements and the realization of these ambitious forecasts, the landscape remains dynamic, reflecting a mix of excitement and caution surrounding XRP’s future trajectory.
How accurate is the Prediction, Let’s Analyse:
In terms of market capitalization, Bitcoin significantly outweighs XRP, with Bitcoin’s market cap standing around $672 billion compared to XRP’s approximately $32 billion. This substantial difference signifies Bitcoin’s dominance, which is over 20X larger than XRP. However, Bitcoin has historically held the top spot in the cryptocurrency market, while XRP consistently maintains a 5th position based on market capitalization.
So, for XRP to surpass Bitcoin, it would require exponential growth in its market cap. Additionally, Bitcoin’s market cap would likely need to stall or decrease for XRP even to catch up. With ETF’s craze, Bitcoin is the hot commodity in crypto. Can XRP alter the BTC fate? Tell us.
