Market Expert Says XRP Price Reaching $1,000 Is Inevitable, Heres Why
Despite its unimpressive price action, crypto analysts have maintained faith in the XRP price, offering bullish price predictions for the crypto token. This time, crypto analyst BarriC has predicted that XRPs price reaching four figures will undoubtedly happen.
XRP Price Will Reach $1,000 At Some Point
BarriC explained in an X (formerly Twitter) post why he believes XRP will eventually reach $1,000. He mentioned that no one could have envisaged that Bitcoin would hit $73,000 when it was still trading at $330 in 2016. He also made reference to other crypto tokens like Ethereum, Litecoin, Solana, and Dogecoin, which were trading really low at some point and went on to make significant price gains.
Therefore, he believes a similar pattern could play out with XRP. He noted that XRP was trading way lower than its current price level at some point when it was $0.006 in 2017, and no one imagined it would climb to an all-time high of $3.80. BarriC went on to claim that those saying XRP will never move in price clearly dont understand how crypto works.
The crypto analyst added that the explosive price action for XRP will definitely come at some point, and what is important is to have the fortitude to hold until that time comes. He also suggested that there was no better time than now to accumulate XRP, stating there is a benefit in accumulating when people either dont know enough about the crypto or outright hate it.
This isnt the first time that the crypto analyst has predicted that XRP will hit $1,000 at some point. Before now, he mentioned that XRP would hit this price level in the next five to ten years. He explained that this exponential price surge will happen thanks to the amount of money expected to flow into the crypto space.
He also alluded to the Spot Bitcoin ETFs and how they helped drive up Bitcoins price. He believes something similar can happen for XRP when institutional demand comes for the crypto token through an XRP ETF.
XRP Can Only Hit Three Figures At Most
XRP YouTuber Moon Lambo has previously suggested that XRPs price cannot go above three figures. He noted that there isnt enough liquidity in the world to drive XRPs price to such heights. He believes that mainstream adoption of XRP and liquidity flow will only cause XRP to rise to three digits, and it will still take many market cycles for XRP to even climb to such a price level.
XRP possibly hitting three digits brings crypto analyst CryptoBulls prediction into focus. The analyst recently predicted that XRP can climb to $154, although he didnt state exactly when this will happen. Meanwhile, crypto analyst JackTheRippler predicted that XRP would rise to $100 when the legal battle between the Securities and Exchange Commission (SEC) and Ripple ended.
Read more: https://www.newsbtc.com/analysis/xrp/xrp-price-reaching-1000/
Text source: NewsBTC
