Investing.com – Ripple is weakening, its price has recently slipped. The reasons for this are, however, only of short-term nature, says crypto analyst Credible Crypto, who has more than 228,000 followers on Twitter.
It currently has strong headwinds. The upward trend in cryptocurrency has been pausing for several days. Most recently, its price even fell below the $ 1.15 mark, its lowest level in a week.
Despite the recent price losses believes the crypto trader known as Credible Crypto said that Ripple’s XRP price could soar to $ 20-30 in this bull cycle.
“The biggest gains come in the last 10 percent of the bull market. As a reminder: XRP was trading at $ 0.22 in 2017 and rose to $ 3.30 in just one month. So the price has increased tenfold in a month …”, he says.
Something similar can now be expected here too, he judges.
“If we can break the all-time high within the next few months, then I think price increases of between 3 and 5 times are very realistic. As I said, in 2017 we saw a ten-fold increase in the price. A three or even five-fold increase is therefore Possible without any problems. As soon as we hit the $ 10.00 mark, I will consider taking profit. “
According to Credible Crypto, the token will enter an explosive pricing phase once XRP breaks its current all-time high of $ 3.40. After that, it could rise to as much as $ 30.00, according to his assessment.
Based on the current price level (1.15 dollars), this results in an earnings potential of 2,508 percent for the XRP.
“We still have a long way to go, that’s what I’m saying. As I’ve emphasized many times, my targets for XRP are $ 20-30 by the end of this bull cycle, be it six months or a year.”
These are his XRP course goals.
“Once we hit the all-time highs, the tension builds and things will accelerate aggressively. The hardest part is getting back to the all-time highs.”
Should the XRP course manage to overcome the highs, in his opinion there would be no more pressure to sell, which “then makes it very easy to climb the course leaders and keep going up.”
How realistic is the forecast for the Ripple course?
At first glance, the price targets issued by Credible Crypto appear at least optimistic – if not utopian. After all, XRP is currently trading at just $ 1.15, bringing it to a market capitalization of $ 52 billion. By comparison, the capitalization of ($ 900 billion) is eighteen times that.
At an XRP price of $ 30, Ripple would have a market capitalization of 1,395,300,000,000, or $ 1.4 trillion. This would make Ripple’s native cryptocurrency the most important cryptocurrency in the world, which at the moment seems very unrealistic, especially since Ripple is still facing the SEC lawsuit and consequently there is a certain amount of uncertainty.
In order to achieve such a market value at some point, not only would the SEC lawsuit vanish into thin air, but Bitcoin would also have to grow strongly. And if you believe the words of big crypto investors like Tyler Winklevoss and Cathie Wood, that’s not so unlikely. The two predict a Bitcoin price of around $ 500,000. That would result in a BTC market capitalization of exactly 9,400,000,000,000 or 9.4 trillion dollars (18,800,000 * 500,000).
Bitcoin would therefore continue to be at the top of the crypto universe in this calculation example. At the same time, this would also mean that XRP – one of the few cryptocurrencies that has not yet reached any new highs in the current cycle – would have to outperform BTC. In our example, the gap in terms of capitalization between XRP and BTC would ultimately merge to almost sevenfold.
In summary, it can be said that the price target issued for XRP is not as utopian as it may have sounded at the beginning. Still, it’s unlikely that we’ll see prices like this in the next six to twelve months, especially as Ripple is still having a mud fight with the SEC in court.
You can see the complete XRP forecast from Credible Crypto here:
Note: This article does not constitute investment advice or a solicitation to buy or sell any asset. Nor does it purport to predict the development of the XRP price. It is merely a subsequent comment on the XRP development, which is intended to inform Ripple investors about the latest crypto news and the technical starting point.