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A known market analyst sees the $6 per coin prediction for XRP crypto being claimed by some experts as too conservative.
Crypto Bitlord suggested that the real target for XRP is $589 per coin, adding that those skeptical about this target are “not delusional enough.” Related Reading New ATH: Bitcoin Tops $106K—Is FOMO And Strategic Reserve The Game-Changer? 12 hours ago Three-Figure XRP Price
Data showed that XRP is the top-performing crypto in the Trump-driven digital asset bull run. Hence, once again, a market expert is floating 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 dismissed this three-figure target are not ambitious enough. You’re not delusional enough with your price targets $XRP $589
— Crypto Bitlord (@crypto_bitlord7) December 16, 2024
The crypto analyst argued that the prices being forecast by several market observers are conservative estimates, believing that $589 per unit is very feasible.
Previously, Crypto Bitlord had already stated that XRP would reach the three-figure price. However, he received derogatory remarks from investors for what they claimed as an ambitious dream.
Now, with the crypto asset performing very well in the bull market, Crypto Bitlord was able to fire back at them, calling them not “delusional” enough. XRP market cap currently at $136 billion. Chart: TradingView.com Smoking Crack?
Several traders in the XRP community do not share the same vision as Crypto Bitlord, seeing the target of $589 as not feasible.
Earlier this month, another crypto analyst, Tony Edwards, downplayed the $589 target, saying that the target is a “fantasy.”
Edward argued that astronomical price predictions for the coin are delusional, saying, “People calling for $589, $1,000, or $10,000 are “smoking crack.” My $XRP price target for this cycle $5-$8. It could go a bit higher but I’m gonna play it safe and be conservative. People who are calling for $589, $1,000, and $10K are smoking crack. pic.twitter.com/joXwhGcxMq
— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) December 2, 2024
Other analysts said that a three-figure price would only happen if the crypto’s market capitalization hit $33 trillion, an amount that would be greater than the consolidated market cap of the top 20 American companies.
Edward estimated the price rally would put XRP between $5 and $8. XRPUSD price climbs 121% in the last month. Source: Coingecko Altcoin Performing Well
Data revealed that XRP benefits greatly from the ongoing crypto bull market driven by Donald Trump reclaiming the White House.
Last month, the crypto’s price surged by 283% while halfway through December, it has already soared by 23%, nearly reaching $3. Related Reading 3-Year Peak: Chainlink Rally Fueled By Historic Open Interest Levels 3 days ago
A CNBC report dubbed XRP as the “biggest winner” in the Trump-driven cryptocurrency rally. According to CNBC, since Trump won the US election, XRP price has skyrocketed by 370%, outperforming the broader digital asset market.
In comparison, Bitcoin has only increased by 45% in the same period, while the entire cryptocurrency market went up by 91%.
As of press time, XRP is traded at $2.36 with a total market capitalization of $136 billion.
Featured image from, chart from TradingView