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- Chase, a prominent Bitcoin maximalist, predicts XRP’s potential price won’t reach $1,000, $589, or even $100.
- Thomas Kralow, a crypto hedge fund manager, envisioned the coin hitting $30 in 2023,.
- Technical analyst Dark Defender set a target of $1.88.
A prominent Bitcoin maximalist, Chase, recently provided a serious yet contrarian prediction for XRP’s potential price. Running The Bitcoin Express YouTube channel, Chase dismissed notions of XRP reaching $1,000, $589, or even $100 in a video presentation.
XRP is not going to $1,000.It's not going to $589.It's not even going to $100.Even if XRP had the same market cap as Bitcoin today ($1 trillion), then 1 XRP would be worth about $18.— The Bitcoin Express (@The_BTC_Express) February 15, 2024
“Even if XRP had the same market cap as Bitcoin today ($1 trillion), then 1 XRP would be worth about $18,” he asserted boldly.
His outlook contrasts markedly with other optimistic forecasts for the altcoin. Thomas Kralow, a renowned crypto hedge fund manager, had envisioned the coin hitting $30 in 2023. Analyst Drozdz predicted excitement would fade post-lawsuit, negatively impacting prices in the medium-term.
Will XRP surpass $1?
On the flip side, technical analyst Dark Defender recently set a target of $1.88 for XRP. Wells Fargo’s Shannon Throp previously called for an astonishing $500 per coin at one point.
Hi all, here is a quick update on the daily chart of #XRP.We have the daily break confirmed for both RSI & Price.Road to $1.88Have a great weekend!#ripple pic.twitter.com/vRziRyfa2r— Dark Defender (@DefendDark) February 9, 2024
However, none of these lofty predictions have materialized so far, grounded by XRP’s huge circulating supply of over 54 billion tokens. For the coin to reach $1,000, its market cap would need to be $54.5 trillion – dwarfing crypto’s entire current valuation.
Chase introduced a hypothetical scenario where XRP attains the same $1 trillion market cap as Bitcoin, but even that would only push its price to $18. While provocatively toned, it considers what’s realistically achievable.
So while maximalists like Chase remain pessimistic about huge price gains for the coin, more optimistic analysts think triple-digit valuations are possible long-term. However, most concur that current challenging market conditions and lagging inflows have hindered gains for now.
This article was originally published on thenewscrypto.com
