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A well-experienced trader recently got significant attention after making a bold statement that an XRP price hike could be somewhere between $30 to $35 based on his assumptions of the market. Related Reading Floki Inu Warning: Analyst Says ‘Prepare For The Crash’ – Details 18 hours ago
Critics slammed his forecast, but Ralston Maximus, a seasoned investor, defended that the predicted price of XRP climbing to $35 is reasonable. XRP: A ‘Ridiculous’ Target?
Another trader expressed his skepticism on the possibility that XRP could have such exponential price growth.
In a post, @Phoddler was left in awe of disbelief at Maximus’ price assumption on XRP, calling it a “ridiculous” target.
According to @Phoddler, based on his estimates, the price target is simply unattainable.
He accused Maximus of proliferating price targets that are excessively optimistic, adding that it could harm the lives of investors who will believe in such exaggerated price predictions. Reality is, it was never looking to break out, thers it much more chance of seeing 30 cent than $7
— MXRP (@phoddler) October 22, 2024
He argued that it is more realistic to predict a price hike of $0.30, insisting that a $30 to $35 hike or even an increase of $7 might sound unreal. Hitting $35 Feasible?
Maximus remained firm in his bold assumptions about XRP, saying that he is only telling the truth and being honest about a possible breakout for the digital asset. How the fuck is $30-35 a ridiculous target? It’s the larger measured move $30-35. $7 is the smaller measured move. I’m a trader with my one long term bag $xrp. We got bent up until breakout. The difference is I’m honest about it. Missed opportunity is missed opportunity. U Fk. https://t.co/SGXARjCNmt
— Maximus Prime (@RalstonMax) October 22, 2024
He explained that the target is not ridiculous since the $30 to $35 price target represents the most optimistic outlook or as he describes, “The larger measured move.” XRP is currently trading at $0.51. Chart: TradingView
On the other hand, the price target of $7 is also not irrational because the figure is the conservative assumption for the price rally, adding that the target will remain as a vision until the breakout finally occurs.
He also defended that he is a long-term XRP trader and has great confidence in the future of the crypto. Related Reading MicroStrategy Stock Hits All-Time High As Bitcoin Blazes Past $67,000 1 day ago XRP price up in the last 24 hours. Source: CoinMarketCap
Drawing Inspiration From Ethereum
Other market observers also agree that a double-digit price for XRP is realistic, citing the possible price upsurge for Ethereum.
Although they are predicting a price of $35, they believe that the altcoin can experience a price hike and hit anywhere above $10.
At the time of writing, XRP is being traded at $0.5159, which is slightly up by 0.3% in the last 24 hours, data from CoinMarketCap shows.
Featured image from Trackinsight, chart from TradingView