Experts Say XRP is Sleeping Giant, Sets $13 as Target

Prominent industry commentators such as Evai CEO Matthew Dixon believe the sleeping giant in XRP price could awaken anytime soon.

In a recent post on X, Dixon weighed in on XRP’s long-standing underwhelming performance. He noted that XRP has persistently taken a back seat while other tokens orchestrate substantial price upswings.

This sentiment is confirmed by market data showing that XRP has only increased by 18.7% since last year, while its closest rival, Toncoin (TON), has grown by an impressive 263% during the same period. Besides, The Crypto Basic recently uncovered that 61 crypto assets among the leading 100 tokens outperform XRP in this bull market.

Tomorrow CPI to Revive Sleeping Giant

Meanwhile, Dixon suggests that the forthcoming U.S. consumer price index (CPI) report might serve as a significant trigger for XRP’s price surge. Notably, the U.S. Bureau of Labor Statistics (BLS) plans to release the April CPI tomorrow, May 15.

The CPI is an economic indicator that gauges inflation by tracking the cost of a standardized selection of goods and services bought by U.S. consumers.

When the CPI exceeds expectations, it can trigger a downturn in risk assets, including cryptocurrencies. Conversely, if the CPI is reported lower than anticipated, it could improve market sentiment and catalyze a surge in prices.

Accordingly, Dixon argues that the CPI coming tomorrow could be the trigger that awakens the “sleeping giant” in XRP, potentially driving prices to new heights. 

#XRP has been lagging lately but like many other tokens, weaker #CPI next week should awaken the sleeping giant and propel $XRP higher. pic.twitter.com/FEvUZiG7RM

— Matthew Dixon – CEO Evai (@mdtrade) May 10, 2024

$0.62 Target with CPI

In particular, the Evai CEO expects the economic data to trigger a short-term rally that sends XRP to $0.62. Notably, XRP was last seen in the $0.62 range 33 days ago. At press time, XRP trades at $0.5071.

Meanwhile, some crypto enthusiasts have expressed disagreement with Dixon’s target of $0.62, questioning whether such a move would indeed constitute the awakening of a “sleeping giant.”

$13 Target when Sleeping Giant Awakens

On the other hand, technical analyst Bobby A also contends that XRP could awaken a “sleeping giant,” but his forecast is grounded in Bitcoin’s performance. He predicts that if Bitcoin returns to the $72,000 level, XRP could experience a dramatic increase, potentially soaring by 2,463.59% to reach $13.