Bitcoin Analyst Projects XRP Price to Skyrocket 2,397% to $26

A top Bitcoin analyst predicts XRP may surge between $25 and $30 in the upcoming bull run, but caution is advised during this accumulation phase.

In a tweet, Captain Faibik, a pro-Bitcoin crypto analyst, voiced his conviction that XRP might soar to remarkable heights between $25 and $30 in the upcoming bull run. Despite his optimism, he advised caution, stressing that the current phase should be approached with a cool head.  

Faibik advised against succumbing to the Fear of Missing Out (FOMO). He urged investors to adopt a steady and patient accumulation strategy, assuring them that the anticipated bull run was not a mere pipe dream but a matter of time.

Adding weight to his claims, Faibik presented a historical chart unveiling XRP’s intriguing price patterns. The chart highlighted moments when the token converged before experiencing substantial surges since 2014. 

Based on the XRP price pattern on the chart, the digital asset is projected to rise to a striking $26.57, representing an astonishing 2396.97% growth.

Crypto Enthusiasts Think Otherwise

As the tweet spread, opinions were divided among crypto enthusiasts. One voiced doubts, questioning Faibik about the potential market cap if XRP were to hit those figures indeed. Faibik replied succinctly: “Anything is Possible in Crypto..”

Remarkably, if XRP ever rallied to the $26.57 price target, its market capitalization would skyrocket to a massive $1.4 trillion, assuming the circulating supply of 52.69 billion remains stable. For context, the entire crypto market currently has a market capitalization of $1.18 trillion.

Further skepticism arose when a commentator analyzed the math behind the prediction. He warned that a price surge of such magnitude would propel the market cap well beyond the trillion-dollar mark. He expressed a more conservative outlook of $5 to $8 at best.

Notably, the $30 outlook is just one of the many daring XRP price predictions that have flooded the crypto community since it was declared a non-security. A prominent figure in the crypto community made a case for XRP reaching $20k, as The Crypto Basic reported.

However, leading figures in the XRP community have urged caution regarding astronomic price forecasts for XRP as such may not materialize, potentially hurting them. XRP is trading for $0.7095 as of press time, down 0.62% over the past 24 hours.

Follow Us on Twitter and Facebook.

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-

Comments

Post a Comment

Popular posts from this blog

Fetch.ai Price Prediction: FET Pumps 14% On Nvidia Earnings As AI Cryptos Boom And Analysts Say This New Solana Meme Coin Might Outperform BONK, WIF And MYRO

Image
The Fetch.ai price has soared by 14.5% in the past 24 hours to trade at $1.12 as of 8:15 a.m. EST on trading volume that surged 10.5% to $612 million. This surge came after AI chip maker Nvidia reported that fourth-quarter earnings had surpassed market expectations, buoying most of the AI crypto sector. Other AI cryptos to surge included Render (RNDR), Akash Network (AKT), and Bittensor (TAO), all ascending by double digits. Fetch.ai Price Susatains Bullish Momentum Above the Bullish Pennant FETUSD Analysis by Tradingview The Fetch.ai price indicates a continued uptrend after breaking from the consolidation stage. However, the resistance level at $0.78 has led to the formation of a bullish pennant, which signals a bullish trend reversal. However, the bulls seem to have acted on the pennant, indicating resilience on the $0.4424 support zone and flying the price past the $0.78 resistance, confirming the bull rally to the $1.17 resistance level. The technical indicators are bul...
Read more

Bitcoin slicing through this resistance could send it over $47k

Image
Although the majority of assets in the cryptocurrency sector got off to a slow start this week, Bitcoin (BTC) could be looking at a massive advance toward and beyond the threshold of $47,000 soon, provided it manages to break the key resistance that currently stands in its way. As it happens, Bitcoin’s realized price distribution (URPD) or unspent transactions output (UTXO), or the amount remaining after every transaction, suggests that the maiden cryptocurrency is facing “stiff resistance at $38,500,” as noted by crypto market analyst Ali Martinez in an X post on November 26. Having said that, the crypto trading expert also observed that the flagship decentralized finance (DeFi) asset “slicing through this barrier could help BTC advance toward $47,360,” which is the next significant point in the chart Analysis that Martinez shared. Bitcoin UTCO realized price distribution. Source: Ali Martinez Specifically, UTXO UPRD shows at which prices the current Bitcoin UTXOs appeared, ea...
Read more

Binance faces calls for ban by Nigerian Bureau De Change association

Image
Gwadabe reportedly emphasized that Binance trading has increasingly established itself as a central point for both the Investor and Exporters window as well as the parallel market. Binance continues to experience an increase in regulatory heat as the Federal Government of Nigeria is being urged by the Association of Bureau De Change Operators of Nigeria (ABCON) to prohibit the activities of Binance within the nation. ABCON is a self-regulatory body and an umbrella for all the central bank-licensed Bureaux de Change (BDC). This action comes in response to the association reportedly recognizing Binance as a significant contributor to the pressure on the naira. As reported by Nairametrics, a local news agency, Alhaji Aminu Gwadabe, president of ABCON, provided this counsel in an interview held on Aug. 8 in Lagos. Gwadabe reportedly emphasized that Binance trading has increasingly established itself as a central point for both the Investor and Exporters window as well as the parallel mar...
Read more