“`html
The notion that XRP may one day trade between $10,000 and $50,000 persists throughout social media, frequently supported by assertions that the token will serve as the foundation for the global financial framework. Nonetheless, not every participant in the crypto realm is embracing that vision. A prominent market analyst known as ChartNerd has firmly opposed such forecasts, labeling them as “absurd.” This statement, as anticipated, triggered a surge of responses within the XRP community, particularly among those who are staunchly devoted to such extremely optimistic projections.
Analyst Declares $10,000-$50,000 Estimate Is Absurd
Speculation about four- and five-figure valuations for XRP reignited following a post from an X user named Mitchell Lion Heart who argued that XRP is not merely another cryptocurrency, but the financial processor for an upcoming transformation in the global payments landscape. He asserted that XRP has been selected, linking it to a global currency reset supported by gold, and maintained that $10,000 per coin, at a minimum, would materialize sooner than anticipated.
Related Reading
He further shared a graphic claiming that once XRP achieves comprehensive global institutional acceptance across platforms such as SWIFT, DTCC, CBDCs, RWA tokenization, commodities, and value transfer on the XRPL, a viable price range for the cryptocurrency would have to lie between $10,000 and $50,000 per XRP.
ChartNerd, an analyst recognized for adhering to price structures and cyclical contexts, dismissed the assertion in straightforward terms. As highlighted by the analyst, XRP will not reach $10,000 or $50,000 per coin. Such a price objective is unrealistic and nonsensical.
As evidenced in some of his prior remarks, ChartNerd’s stance is that these types of targets disregard the realities of XRP’s supply, liquidity, and market capitalization. He has persistently noted that XRP’s price path must correspond with adoption metrics and market frameworks.
An illustration of this is when he elucidated that prices between $13 and $27 signify a logical peak upside for XRP this cycle. This price bench-marking is also dependent on XRP experiencing billions in potential ETF inflows and enhancing overall crypto market sentiment.
Supporters Reinforce The Selected Asset Viewpoint
“Mitchell Lion Heart” rejected the analyst’s rebuttal and asserted that many traders are missing XRP’s true significance and value. According to the XRP supporter, traders who don’t agree with XRP reaching prices of $10,000 to $50,000 are out of touch with what XRP genuinely represents.
Related Reading
Other commentators also remarked that Bitcoin is presently over $110,000, and its applications are far less impressive compared to XRP. Hence, XRP holds the capacity to attain values akin to Bitcoin once its utility is fully realized within the global payment framework.
Others endorsed ChartNerd, claiming that such extreme price predictions distort public perception and compromise the credibility of legitimate analyses concerning XRP’s fundamentals. The ongoing debate reveals the widening divide between two perspectives on XRP’s price trajectory.
At the moment of writing, XRP is trading at $2.41, having encountered resistance at an intraday high of $2.54.
Featured image created with Dall.E, chart from Tradingview.com
Source link
“`
