XRP’s $50 Target: A Realistic Goal or a Dream?

0

After the decision in July 2023 XRP As the legal status of the token became unclear, it was observed that it did not perform as impressively as market players had hoped. Following the decision, the price of the altcoin increased, but the gains it made subsequently declined.

During the uptrend in the last quarter of 2023, XRP’s performance was limited to a 19% increase from October to December. During this period, it performed lower than other cryptocurrencies such as Bitcoin (57%) and Ethereum (36%).

Despite this underperformance of XRP, some analysts still continued to put forward ambitious price targets such as $50. Last December, an analyst, EGRAG, claimed that the price could reach a price range between $10 and $50. In November, crypto educator Jason also claimed that he could reach the $50 target.

While most community members feel that the $50 target is unrealistic, some still believe that XRP can reach this level. Media figure Zach Rector claimed last September that the price could only reach a target of $50 if the currency reset.

However, in a recent statement, YouTuber and CryptoBanker, a member of the Stronghold Token (SHX) community, gave his views on what the market cap of XRP could be if it reaches $50 or $500. shared.

According to CryptoBanker, even if the market cap increases by 1%, it could impact the price of SHX. He stated that XRP should increase approximately 100 times from its current price.

According to CoinMarketCap data, such a price increase would significantly impact XRP’s market cap, which currently stands at $29.5 billion. However altcoin‘s current market cap is 75% lower than its 2018 high.

If the price of XRP rises to $50 and the circulating supply remains constant, its market cap could reach $2.72 trillion. CryptoBanker’s views focus on how SHX’s potential value could impact its price.

Source : The Crypto Basic


source site-7