The $589 XRP Dream: Believers Aren’t ‘Delusional’ Enough, Expert Says

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As a seasoned researcher who has been closely monitoring the crypto market for over a decade now, I must say that the prediction of $589 per XRP by Crypto Bitlord seems rather audacious, yet not entirely implausible given the current bullish trends.

As a crypto investor, I find it intriguing when market analysts challenge the more conservative predictions on the price of XRP coins. Some experts see a potential valuation of $6 per coin, but one analyst believes this is underestimating its true potential.

crypto expert Bitlord proposes a potential price point for XRP of $589 per coin, asserting that anyone doubting this prediction isn’t quite visionary enough.

Three-Figure XRP Price

Data showed that XRP is the top-performing crypto in the Trump-driven digital asset bull run. Hence, once again, a market expert is floating the idea of $589 per coin.

crypto trader Crypto Bitlord posited an alternative perspective on the potential value of XRP, suggesting a far higher price goal of $589 rather than the $6 figure put forth by some analysts. According to him, anyone who disregards this triple-digit target as too lofty may lack ambition.

You’re not delusional enough with your price targets $XRP $589

— Crypto Bitlord (@crypto_bitlord7) December 16, 2024

The crypto analyst argued that the prices being forecast by several market observers are conservative estimates, believing that $589 per unit is very feasible.

Earlier, Crypto Bitlord predicted that XRP could potentially surpass triple digits in its value. Yet, his optimistic forecast was met with skepticism and criticism from some investors, who considered it overly optimistic.

Currently, as the crypto asset thrives in the rising market, Crypto Bitlord responded by labeling them as insufficiently optimistic, rather than just delusional.

Smoking Crack?

A number of individuals within the XRP trading community hold differing opinions regarding the price forecast of $589 proposed by Crypto Bitlord, considering it unrealistic or impractical.

Just a few days ago, another cryptocurrency expert named Tony Edwards expressed skepticism about the $589 prediction, referring to it as an “unrealistic dream” or “fantasy.

Edward contends that the extravagant forecasts regarding the coin’s value are unrealistic, expressing his view as, “Those who predict figures like $589, $1,000, and $10,000 are living in a fantasy world, perhaps even high on something.

My $XRP price target for this cycle $5-$8. It could go a bit higher but I’m gonna play it safe and be conservative. People who are calling for $589, $1,000, and $10K are smoking crack.

— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) December 2, 2024

Analysts have suggested that for a cryptocurrency’s price to reach triple digits, its market capitalization should surpass a staggering $33 trillion – a figure higher than the combined market value of the top twenty most valuable U.S. corporations.

Edward estimated the price rally would put XRP between $5 and $8.


Altcoin Performing Well

It was found that the value of XRP significantly increased due to the ongoing cryptocurrency bull market, which appears to have been fueled by Donald Trump’s return as President of the United States.

Over the past month, the value of cryptocurrency saw a significant increase, jumping approximately 283%. By mid-December, this surge had increased even more, climbing around 23%, and nearing the $3 mark.

Based on a report from CNBC, XRP was labeled as the standout performer in the surge of cryptocurrencies triggered by the U.S. presidential election victory of Trump. According to this report, since Trump’s election win, the price of XRP has soared an impressive 370%, surpassing the overall growth of the digital currency market.

Contrastingly, Bitcoin experienced a rise of 45% during that timeframe. On the other hand, the overall cryptocurrency market saw a surge of 91%.

As of press time, XRP is traded at $2.36 with a total market capitalization of $136 billion.

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2024-12-17 02:46