XRP – Ripple’s native token – is currently the fifth largest cryptocurrency by market capitalization, while coin holders number nearly 5 million. It should therefore come as no surprise that asset-related price predictions are a very intriguing topic.
And while some analysts have presented somewhat realistic predictions, others have gone wild, estimating that XRP could reach $500.
How High Can XRP Go?
A person who gave A relatively shocking price prediction for XRP comes from pseudonymous crypto trader and analyst Oaksacorn. They released a chart that Ripple’s native token could hit $43, while Bitcoin (BTC) could skyrocket to $250,000 and even $1.25 million.
Analysts based their research on drawing parallels between the current state of the cryptocurrency market and the 2015-2017 cycle:
“BTC mimicking the 2015 cycle – probably given the structure so far. This puts BTC at $215,000 in September 2024 and could bring an XRP price of $43.
Even though the aforementioned prediction seems rather absurd, the next one we are about to mention could be called downright impossible. This comes from business analyst Shannon Thorp, who believes XRP could explode to $500 in the next four years.
It is worth noting that for this to happen, the market capitalization of the asset would need to reach around $260 trillion. In comparison, the total market capitalization of the cryptocurrency sector stood at $3 trillion in 2021, when BTC reached an all-time high of nearly $70,000.
Those curious about what the AI-based ChatGPT language model has to say about XRP’s price performance during the next bull run can take a look at our video.
The company behind XRP – Ripple – is also regularly in the spotlight and has been the subject of various rumors.
The company will hold a big party tomorrow (September 29) in New York to celebrate the partial victory against the US securities regulator. Some X (Twitter) users took the opportunity to present numerous theories about what could happen at the event.
According to the most popular speculations, Ripple could reveal plans to file an initial public offering (IPO) or disclose an agreement with the SEC.
It is safe to assume that the possible IPO could trigger a rise in XRP prices. One analyst who shares this opinion is blockchain researcher using the handle X – Collin Brown. They suggested the token could rise to $10 shortly after “the big day.”