Some pundits believe XRP price has the tendency to soar to $288, $412, and $771, respectively, based on viable technical reasoning.
Market analysts have always considered XRP to be undervalued. Though it currently trades below the $1 threshold, some believe the utility that is coming to its ecosystem could eventually push it to the 3-digit market valuation.
Most of these projections stem from historical context and the adoption of XRP as a key component of the XRP Ledger (XRPL).
Rationale for XRP Surge to $288, $412, and $771
According to a recent insight shared by crypto analyst Javon Marks, the setup that saw XRP touch the All-Time High (ATH) of $3.84 in 2018 might be playing out again.
With XRP forming a bearish descending trendline after collapsing from the $0.0614 high in December 2013, the asset rallied 63,080% to the ATH. Should this historical trend repeat itself, it can potentially push the price of XRP to $288 per piece.
The journey to $412 follows similar reasoning, with Changelly Analysts pegging the potential timeline this might be achieved in 2040.
However, the push toward $771 will take a more deliberate utility boost, possibly through the XRPL. According to the Athey and Mitchnick research calculator, if XRP captures at least 20% of the $50 trillion XRPL volume projected by Archax CEO Graham Rodford, its price could jump north of $771.
Though these price projections come with valid reasoning, the crypto market is speculative, and the forecasts and timeline may or may not come through.
Current XRP Price Outlook
XRP has recorded different shades of price reactions thus far this year. From breaking its 3-year consolidation trend to re-igniting a bullish run per the current trend, the cryptocurrency remains a viable yardstick to measure the market’s dynamic nature.
The current market price of $0.592, with a 1.79% surge in 24 hours, spells a major confirmation of a bull run. The price is currently above the 50-day and 200-day Moving Averages, showing its short- and long-term outlook is positive.
Whether or not the current rally will justify the speculations for triple-digit growth remains uncertain, but the reasoning is sound.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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