The future price of XRP, a prominent cryptocurrency used for international payments, is a hot topic of debate. Technical analyst Zach Humphries has thrown cold water on recent, highly optimistic predictions, calling a minimum price target of $57 in the current bull run “absurd.”
Humphries, a respected voice in the crypto community, took aim at forecasts from analysts like “XRP CAPTAIN,” who believe XRP will see significant adoption after the ongoing Ripple lawsuit concludes. XRP CAPTAIN predicts a minimum price of $57, with some analysts like JayDee projecting even higher targets.
However, Humphries remains unconvinced. While acknowledging XRP’s long-term potential, he finds widespread predictions of $50 to $100 to be unrealistic. He emphasizes the astronomical growth such figures represent. At its current price of over $0.60, coin reaching $57 would necessitate a staggering 9,400% increase. Even more ambitious predictions aim for $10,000, requiring a mind-boggling 1,800,000% growth.
Humphries argues that such growth is improbable for an asset already boasting a market capitalization exceeding $33 billion. For perspective, a $57 XRP would translate to a market cap of over $5.6 trillion, nearly double Apple’s current valuation. Bitcoin, the leading cryptocurrency, currently sits around $1.36 trillion. Proportionally, such growth for XRP could theoretically push Bitcoin’s market cap past $100 trillion – a scenario Humphries finds implausible.
Also Read: XRP Soars 39% As Massive Whale Transactions Fuel Speculation Amid Looming SEC Settlement Talks
This argument against extraordinary price predictions resonates with many XRP critics. Alternative, more moderate outlooks suggest a price range of $5 to $10 for XRP in the near future. Nick, founder of Web3Alert, believes a price of $10 “is not crazy” as it would place XRP’s market cap at a more manageable $550 billion.
The XRP price debate highlights the inherent uncertainty in cryptocurrency valuations. While some analysts foresee a future surge, others remain grounded in the realities of market capitalization and historical growth patterns. Only time will tell which price predictions for XRP will ultimately prove accurate.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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