Cryptocurrency Analyst Dismissed XRP Price Predictions of 300x and Deemed As Unrealistic
Crypto market expert Michael’s take on such bold predictions on the X platform (formerly Twitter) has the XRP community in a frenzy.
The positive sentiment surrounding XRP has been on the rise of late due to its recent bullish momentum, which has led to several bold predictions from cryptocurrency analysts regarding the next upward trajectory of the digital asset.
However, market expert and enthusiast Crypto Michael scoffed at the idea of XRP rising to 300 times its current price, pointing out that such predictions will likely not be realized.
300x Increase in the Price of XRP is an Illusion
Michael’s critique suggests that while the altcoin has the potential to rally, current fundamentals and market conditions do not warrant predicting a 300x price. His thoughts came in response to XRP predictions made by another popular cryptocurrency expert, Javon Marks, last month.
In late July, the analyst predicted that XRP had made a test run, indicating that the digital asset was poised for a massive bullish breakout in the coming months. This was influenced by a bullish market outlook. If the market keeps up its steady momentum, Marks says his forecasts could be realized, creating opportunities for longer-term gains. Therefore, he believes the altcoin could rise more than 41,000% to the $150 price level using full logarithmic tracking.
Although cryptocurrency predictions are not entirely accurate, Michael is sure that Marks’ forecast is far from accurate and detrimental to those investing in the altcoin. The expert noted that it would be lucky to see a 10x increase in XRP during this cycle, let alone a 300x price increase, as they are beyond delusional.
Michael went on to explain that the holders of the coin who are expecting these ridiculous targets will be left without any significant results until the next bear market. As a result, he has warned cryptocurrency investors to be wary of these absurd and speculative predictions within the community, saying, “Be careful who you listen to.”
Cryptoasset is Like a Drunk and Abusive Parent
Given that XRP, unlike other notable coins, has failed to initiate a major uptrend since the 2021 cycle, some cryptocurrency enthusiasts seem to have lost faith in the altcoin over time. Cryptocurrency expert ProTheDoge, also known as Dogecoin Millionaire, expressed his utter disbelief towards the altcoin in a recent post. He compared it to an irresponsible parent.
According to the dealer, depending on XRP is like depending on a violent, drunk father who went to the corner store to buy smokes and said he would be back, but never was, thinking he might be back one day. The trader later revealed that he invested $10,000 in the altcoin. After a period of 1 year, his investment is still worth exactly $10,000, indicating a lack of growth.
XRP Forecast
According to CryptoPredictions, XRP started August 2024 at $0.70491109347888 and is expected to end the month at $0.60472333740556. During August, the expected maximum price of XRP is $0.94839558908095 and the minimum is $0.60472333740556.
XRP price for today (08.02.2024) is expected to be in the price range of 0.51147854598173 $ – 0.75217433232608 $. XRP price is expected to end today at $0.60173946586086.
Tomorrow (08/03/2024) XRP price is expected to be in the price range of $0.51659333144155 – $0.75969607564934. Tomorrow XRP is expected to start at 0.60775686051947 $ and end the day at $0.62598956633506.
By Audy Castaneda