XRP still struggles to reclaim and retain the $0.65 territory, but predictions of lofty targets above $500 remain prevalent, with several entities projecting a timeline for the attainment of this price.
XRP had some minor price gains in the ongoing mini-bull run, but the cryptocurrency has largely underperformed in comparison to others. Despite XRP’s inability to engineer a full-blown price upsurge, analysts have continued to set ambitious price targets with the $500+ zone in view.
Changelly Projects When XRP Could Hit $500+
Changelly noted that XRP’s sentiments remain bullish despite the underperformance, with a fear and greed index (FGI) of 81, indicating extreme greed. Moreover, with a volatility of 6.80%, XRP has recorded twenty bullish days over the past 30 days, seeing a win rate of 67%.
The analysts at Changelly expect XRP to clinch a high of $0.7804 in the next seven days. However, they believe the crypto asset would retrace to end this month at $0.7310, essentially 17.79% above its current price.
For the lofty targets, Changelly analysts believe 2040 is the year for XRP. According to their projections, the asset would grow from $67 to a maximum price of $629 in 2040. They believe XRP would clinch the $500+ target in October 2040, predicting a maximum price of $529 for the month.
Bard Expects XRP to Hit $500+ in 2027
To get a second opinion, we asked Google Bard (now Gemini) what it thinks about XRP reaching the $500+ level. Bard suggested a timeline of 2027 for XRP to reach $500+.
Nonetheless, Bard highlighted some challenges that could prevent XRP from hitting the price, one of which is its current market cap. Hitting $500 would bring XRP’s market cap to $27.3 trillion, much higher than the current global crypto market valuation of $2.6 trillion and the market cap of gold ($14.6 trillion).
The second challenge is the competition from other assets in the cross-border payments scene, such as Stellar (XLM). For this, some pundits have argued that XLM and XRP are not competing technologies. Bard also cited regulatory uncertainty as another challenge for XRP.
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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