In the past years, estimates of $1 or even $10 were made for penny-priced altcoins such as SHIB and DOGE. Recently, this prospect has been focusing on XRP due to its supremacy in the SEC lawsuit.
As SHIB and DOGE drop, $10 prospects emerge for this altcoin
John Deaton, a pro-XRP lawyer, suggested in his new statements that the XRP price could reach $10. In a recent interview, Deaton shared his analysis of this target of XRP price following the SEC lawsuit.
Deaton addresses those who criticize its low performance as the XRP price is trading at $0.48. He mentions that these investors will eagerly buy when the price goes up to $1 or more. He suggests that there may be a phenomenon of fear of kidnapping (FOMO) among such individuals.
With Fomo in mind, Deaton predicted that XRP would potentially reach ATH. He also says that XRP will reclaim the previous $3.85 level. Still, Deaton stated that he does not expect XRP to reach triple-digit values. Instead, he predicts it will stay in the $2 to $10 range.
Could the altcoin reach $1 this year?
Google’s chatbot Bard-AI gave different ideas about XRP’s catalysts on the $1 journey. In a recent chat, he told Bard, “XRP is currently trading at $0.52. With the developments around its tokenomics, community and XRP ecosystem, and Ripple, will it see $1 in 2023?” we asked.
Responding to the question, Bard mentioned that XRP could reach the much desired price of $ 1 this year. However, the AI chatbot suggested that this prediction is not guaranteed due to the unpredictable nature of the crypto market. He highlighted several factors that contributed to the XRP price’s rise to $1 this year.
Here are the factors that could support XRP on its $1 journey
Regarding tokenomics, the chatbot said that XRP remains a deflationary coin. He also stated that the total supply of XRP is capped at 100 billion. Unlike other coins like BTC and DOGE, no new XRP is minted. However, existing XRP tokens can be burned. This indicates a deflationary trend for the coin.
On the other hand, Bard highlighted that among the factors that would go against XRP’s $1 price target is a loss in Ripple’s SEC lawsuit and the state of the overall crypto market. In particular, market watchers have consistently stressed the importance of the SEC case. They believe that a positive decision for XRP will result in huge gains, while a negative decision can hinder its growth.
Ripple could go public within a year
Finally, crypto lawyer John Deaton, who made a $10 price prediction, suggests that Ripple’s potential IPO could result in a valuation of more than $100 billion, in line with previous analyst projections.
Deaton expressed his thoughts on the growing debate around Ripple’s potential IPO as the end of the SEC litigation approaches. He also noted that Ripple is on the way to an IPO and an IPO can be expected within a year if the company achieves a complete victory in its lawsuit against the SEC.
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