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A well-known market analyst believes that the $6 per coin forecast for XRP crypto is considered too conservative by some experts.
Crypto Bitlord suggested that the real target for XRP is $589 per coin, adding that those skeptical about this target are “not delusional enough.”
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XRP price in three figures
Data showed that XRP is the best-performing crypto in the Trump-driven digital asset bull run. That’s why a market expert is once again proposing the idea of $589 per coin.
Crypto Bitlord claimed that the real price target for XRP is not $6 as some commentators said, but $589, adding that those who rejected this three-digit target are not ambitious enough.
You are not delusional enough with your price goals $XRP $589
— Crypto Bitlord (@crypto_bitlord7) December 16, 2024
The crypto analyst argued that the prices predicted by various market observers are conservative estimates, believing that $589 per unit is very feasible.
Previously, Crypto Bitlord had stated that XRP would reach the triple-digit price. However, he received derogatory comments from investors about what they claimed was an ambitious dream.
With the crypto assets performing very well in the bull market, Crypto Bitlord was able to fire back and not call them “delusional” enough.
Smoking crack?
Several traders in the XRP community do not share the same view as Crypto Bitlord and see the $589 target as unachievable.
Earlier this month, another crypto analyst, Tony Edwards, downplayed the $589 target, saying the target is a “fantasy.”
Edward argued that astronomical price predictions for the currency are misleading, saying: “People asking for $589, $1,000 or $10,000 are ‘smoking crack’.
Mine $XRP price target for this cycle $5-$8. It could go a little higher, but I’m going to play it safe and be conservative. People calling $589, $1,000 and $10,000 are smoking crack. pic.twitter.com/joXwhGcxMq
— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) December 2, 2024
Other analysts said a triple-digit price would only happen if the crypto’s market cap reached $33 trillion, an amount that would be greater than the consolidated market cap of the top 20 U.S. companies.
Edward estimated that the price increase would put XRP between $5 and $8.
Altcoin is performing well
Data showed that XRP is benefiting immensely from the ongoing crypto bull market, driven by Donald Trump’s retake of the White House.
Last month, the price of cryptocurrency rose by 283%, while in mid-December it already rose by 23% and reached almost $3.
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A CNBC report called XRP the “biggest winner” in the Trump-driven cryptocurrency rally. According to CNBC, since Trump won the US election, the price of XRP has skyrocketed by 370%, outperforming the broader digital asset market.
By comparison, Bitcoin is only up 45% over the same period, while the entire cryptocurrency market is up 91%.
At the time of writing, XRP is traded at $2.36 with a total market capitalization of $136 billion.
Featured image of, chart from TradingView
Credit : www.newsbtc.com
