Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. A popular XRP proponent recently projected a clear path for XRP to reach $1,000. Particularly, crypto commentator BarriC laid out a multi-stage price forecast that places the XRP price on a trajectory toward $1,000. The statement, posted on the social media platform X, follows XRP’s recent surge to a new all-time highfor the first time since 2018. Expert Predicts Multi-Stage XRP Price Explosion
XRP has been on an interesting price run since the beginning of the month, which kicked off when it broke out of its long-term consolidation below $2.2 on July 5. This was followed by a string of inflows alongside the rest of the crypto market as Bitcoin pushed to new price territories above $120,000. Related Reading XRP To $13 in 40 Days? Analyst Predicts Explosive Final Rally 1 day ago
However, although Bitcoin peaked at $122,800 on July 14 and has since entered a corrective phase below $120,000, the altcoin has managed to keep up its gains in the days after July 14. This detachment from Bitcoin’s momentum started after the SEC’s approvalof ProShares’ XRP ETFs, which has contributed to the crypto asset’s push to a new all-time high of $3.65 in the past 24 hours and its market cap breaking the $200 billion threshold.
Interestingly, XRP’s price is now trading in unknown territory,and the next price target for bulls is $4. BarriC’s post begins witha near-term target of $4 for XRP, which many bullish analysts have been watching closely for weeks. From there, BarriC anticipates a rapid expansion into double digits, forecasting a range between $10 and $20.
Although the projection did not come with a technical analysis of XRP’s price action, the outlook that truly captures attention is his final projection: a “clear path” that leads XRP beyond the $100 mark and ultimately to a $1,000 valuation. XRPUSD currently trading at $3.46. Chart: TradingView $1,000 XRP: Path Or Pipe Dream?
The notion of XRP reaching $1,000 has been discussedin the past but remains a controversial subject. To achieve a price point in the triple digits, its market capitalization would need to exceed $50 trillion, more than double the value of the most valuable public companies in the world combined.
Central to BarriC’s prediction of a $1,000 XRP price is based on the belief thatits utility in cross-border payments and banking infrastructure will drive its long-term value. A $1,000 XRP becomes realistic onlywhen mass institutional adoption from banks turns transactional demand into structural demand. Related Reading XRP Open Interest Just Hit A Fresh ATH Above $10 Billion, Will Price Follow Next? 1 day ago
On the other hand, price targets like $10 and $100 in the coming years are still realistic based on the current fundamentals of the altcoin and the XRP Ledger. The first step is a break above $4, which can only be possible if XRP manages to secure $3 as its new base price going forward.
At the time of writing, XRP is trading at $3.44, up by 22% in the past seven days.
Featured image from Pexels, chart from TradingView