A technical analyst and crypto trader has continued to make audacious XRP price predictions, taunting investors who ignore the asset at current prices.
The recent commentary comes when the XRP price is struggling to maintain its hold above the critical $2 psychological region. For context, while trading at $2.14, XRP observed a drastic drop from April 6 to 8, slumping by over 17% within this period and closing April 8 at $1.79, its lowest intraday close in five months.
However, XRP saw an impressive recovery push the following day, recording a 14.33% spike to recover the $2 territory and close above it. Despite briefly relinquishing the price mark, XRP has struggled to hold above it at press time. Nonetheless, the bears are struggling to take over.
XRP Price to Reach $50?
Amid this volatility, Cryptominder, a market analyst, has maintained his confidence in XRP’s potential. According to him, he’s currently buying XRP at the current price, expecting a price explosion in the future. While some predictions eye targets around $12 to $15, Cryptominder believes XRP price has the potential to hit $50.
He suggests this price could materialize in the next five years, essentially in 2030. For context, a $50 price would represent a 2,339% increase from the current XRP price of around $2.05. Notably, if XRP maintains a steady annual growth, this translates to a CAGR of about 90%. This means XRP would need to rise 90% each year.
Considering its 237% increase last year, this estimate is largely feasible for the altcoin. Cryptominder is extremely certain of his projection, going as far as suggesting market participants would remember the day this forecast emerged, possibly looking back at it in hindsight.
He taunted investors who have exercised caution amid XRP’s current price struggles at the $2 mark. According to him, similar sentiments sprang up when XRP traded for $0.09. For context, XRP price last traded around the $0.09 region in May 2017. Cryptominder further stressed that investors also had this cautious sentiment when XRP saw $0.35.
Now, the asset has delivered gains for market participants who believed in its potential at the previous low prices. According to Cryptominder, he purchased XRP at these prices. With XRP currently trading at $2, the analyst expects similar gains for investors who believe in it at this price. This is the motivation behind his $50 price target.
Bullish Sentiments Around XRP
Interestingly, Cryptominder is not the only market pundit predicting an XRP price spike to $50. Last August, Amonyx argued that XRP would likely surpass $10 to claim $50, insisting no one could stop the momentum. Most recently, Edoardo Farina predicted investors would start “crying” for $100 once XRP claims $50.
Meanwhile, market analytical resource Telegaon appears to hold the same sentiment as Cryptominder. The platform suggests XRP could reach a maximum price of $48 by 2030, aligning closely with Cryptominder’s prediction. However, analysts at Changelly believe XRP will not see $50 until 2033.
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.
