Famous crypto expert King 100x Gems predicts that XRP could attain a double-digit value if Bitcoin hits a target of $500 by the end of the bull cycle.
XRP is gradually recovering from the recent downturn witnessed across the broader market.
Current XRP Performance
Data from CoinMarketCap shows that the seventh-biggest cryptocurrency by market cap has recorded a daily increase of 3.4%.
However, the asset is still down 5.3% in the weekly charts and 8.47% over the past 30 days. Despite the devastating collapse of XRP, market watchers have remained confident that the Ripple-affiliated token will stage a major comeback that could take its price to a new all-time high (ATH).
Some of these experts suggested that Bitcoin’s price action will determine XRP’s performance. Analysts with this notion believe that the price of XRP would surge tremendously if Bitcoin hits loftier targets.
XRP to Hit $20 If Bitcoin Reaches $500,000
In particular, pseudonymous market watcher King 100x Gems speculated that Bitcoin’s price could hit a whopping $500,000 by the end of the bull run. They projected that if Bitcoin achieves this feat, XRP could hit a price target of $20 within this timeframe.
This is mainly because Bitcoin’s performance often influences the broader crypto market, including XRP. Consequently, the prices of crypto assets like XRP usually surge whenever Bitcoin performs well, and vice versa.
Therefore, King 100x Gems expects XRP to hit $20 if Bitcoin’s price rallies to $500,000 by the end of this season’s bull market. At the time of writing, XRP is trading at $0.5658 per token. This suggests that XRP must surge 3,416% from its current price to reach the target price of $20.
Other XRP to $20 Projections
Besides King 100x Gems, several market watchers have set a similar target for XRP. For instance, Armando Pantoja, a member of the Bezinga crypto advisory council, speculated that XRP could hit the $20 target by 2026. Notably, Pantoja identified the $20 price territory as XRP’s actual value.
He highlighted several factors that could take XRP to the $20 territory, including legal clarity and partnerships, institutional adoption, utility explosion, and historical precedent.
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.
