A notable XRP community figure believes those who cannot conceive an XRP rally to the famous three-figure target are not “delusional” enough.
Notably, XRP has been a top performer in the ongoing bull market. It closed in November with a 283% increase and is now up 23% in December. XRP trades for $2.41 and has been solidating within this range for the past seven days.
At this stage, some analysts have presented multiple targets for XRP when it breaks out of this consolidation. While a few market commentators have set targets of $6, others, like EGRAG, have predicted that XRP will reach $27.
“You are Not Delusional Enough”
However, market pundit Crypto Bitlord believes these targets are not ambitious enough, resurfacing the XRP to $589 projection. This figure has historical significance within the XRP ecosystem.
In a recent disclosure, Bitlord argued that other analysts had conservative estimates, suggesting that $589 is the real target. According to him, those who cannot see XRP at this price level are not “delusional” enough, referencing the derogatory remarks XRP investors typically face for having ambitious dreams.
You’re not delusional enough with your price targets $XRP $589
— Crypto Bitlord (@crypto_bitlord7) December 16, 2024
Notably, Bitlord’s commentary likely addressed many in the XRP community who also feel the $589 price is not feasible. Earlier this month, Tony Edwards, the Thinking Crypto podcast host, suggested that the $589 target is a “fantasy.”
Notably, such a price could take XRP’s market cap to $33 trillion, higher than the combined valuation of the top 20 U.S. companies by market cap. Such a market cap would demand an unprecedented inflow of capital. Regardless, Bitlord and a few other community figures remain optimistic.
As XRP reclaimed $2 earlier this month, Bitlord commented on the upsurge, pointing out that the altcoin only required a 10x increase to claim the $27, predicted by EGRAG.
In a subsequent disclosure, Bitlord argued that XRP was sucking liquidity from major assets like BTC, ETH, and SOL. He claims this event, which would benefit XRP and impact other top assets, sets XRP up to dominate the crypto economy.
$XRP is creating a black hole now
People are selling $BTC $SOL $ETH and $BNB to get it
It’s literally sucking the power from these mega caps to pump harder
🚨 WE ARE ABSORBING THE ENTIRE CRYPTO ECONOMY 🚨
-HIGHER 🚀🚀🚀 pic.twitter.com/rDo8T9HKs3
— Crypto Bitlord (@crypto_bitlord7) December 2, 2024
Historical Context Behind XRP to $589
Notably, the origins of the $589 target can be traced back to 2019, emerging from speculative narratives and theories. Initially, commentaries linked it to Ripple’s institutional adoption and possible alignment with global financial systems.
Over time, the figure gained traction in XRP communities, even evolving into a cult-like symbol. Some theories then linked it to Ripple’s utility for cross-border payments and potential regulatory clarity, while others have since dismissed it as overly ambitious or a meme-driven fantasy.
The $589 prediction has also been the focus of XRP-related memes. Despite its audacious nature, the figure is repeatedly invoked to rally support among the “XRPArmy.” However, most market pundits have cautioned against reliance on such speculative price targets.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
