Nick, the founder of Web3Alert, has provided grounds for why expecting XRP to soar by 1,500% to $10 is not a far-fetched dream.
This came in a recent post on X, where Nick disclosed his target range for XRP this bull season. Nick anticipates XRP achieving unprecedented price levels between $5 and $10 at the peak of this bull cycle.
My range on $XRP is $5-$10 this cycle.
I see so many people saying that it won't or it even can't happen.
These are the same people cheering for $ETH to hit $7,500 – $10,000 and also $BTC to hit $100,000-$150,000
Think about this logically for a second. Even going off of the…
— Nick | Crypto Crusader (@NCashOfficial) March 17, 2024
At the reporting time, XRP maintains a value of approximately $0.61. Nick’s assertion implies that XRP could see a remarkable growth of seven to fifteen times its current value by next year.
This perspective emerges amid increased skepticism surrounding XRP, as it remains within a price range observed six months ago despite other market counterparts experiencing more than a twofold increase in value.
Why XRP $10 Looks Feasible
However, Nick substantiated his $10 price target for XRP by drawing comparisons with Bitcoin and Ethereum. He pointed out that those skeptical of such a price for XRP are the same individuals predicting Bitcoin will reach values between $100,000 and $150,000 and Ethereum will surge from $7,500 to $10,000 soon.
The crypto founder pointed out that Bitcoin attaining the projected price range would expand its market cap from $1.33 trillion to nearly $3 trillion. Similarly, ETH trading at $10,000 would put its market cap at approximately $1.2 trillion.
In parallel, Nick highlighted that XRP reaching $10 translates to a valuation of around $550 billion or a fully diluted cap of approximately $1 trillion.
As a result, Nick argued that such targets are within reach for XRP. Besides, he emphasized that the $5 to $10 range for XRP would be a conservative outlook for this season.
Meanwhile, Nick is not alone believing that XRP will attain $10. As The Crypto Basic reported previously, many prominent market watchers have argued that XRP could attain $10 this cycle, with some even noting the possibility of XRP outperforming Bitcoin as it did in 2017.
Unfair Comparison with BTC and ETH?
Meanwhile, an X user remarked that comparing XRP to Bitcoin and Ethereum lacks logical consistency. This commenter pointed out that Bitcoin and ETH will only need to double in value to reach their projected price points.
On the other hand, XRP would need to achieve a much more staggering 1,500% growth.
In response, Nick emphasized that this very difference is what makes XRP the best investment option. “[That] is why XRP is undervalued and has a great ROI opportunity this cycle,” Nick remarked.
Which is why XRP is undervalued and has a great ROI opportunity this cycle.
— Nick | Crypto Crusader (@NCashOfficial) March 17, 2024
Similarly, another commenter pointed out upcoming developments that could catalyze XRP’s ascent to lofty heights. These include DeFi’s coming with an automated market maker (AMM), the ending of the Ripple lawsuit, ETFs, more significant partnerships, and Bitcoin’s halving.
“It’s going up—way up. Be patient and ignore the noise,” the commenter said.
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.
-Advertisement-
