XRP Price Could Reach $10,000 According to Analyst Predictions
Crypto analyst Vincent has suggested that the XRP price could potentially reach $10,000. This speculation follows a recent rally in XRP, now aiming for its all-time high (ATH) of $3.8.
Reasons for the $10,000 Price Target
Vincent consulted ChatGPT, which indicated that XRP could achieve a price of $10,000. He noted that the AI dismissed concerns regarding XRP’s market cap as a limiting factor. Although no specific timeline was provided for this prediction, Vincent's discussions with ChatGPT about Ripple suggest that the company's influence was considered in this forecast.
Ripple may significantly impact XRP's ability to reach this target. Analyst CryptoTank predicted that XRP could reach $1,000 due to Ripple's payment service being used for many cross-border transactions. Increased adoption of Ripple's services is expected to boost XRP's use case and price. Additionally, potential approval of XRP ETFs by the US Securities and Exchange Commission (SEC) could attract institutional investment, further driving up the price.
Rally Predictions
Despite the ambitious $10,000 prediction, analyst Mikybull Crypto anticipates that XRP could reach double digits during this market cycle. He compared current trends to the 2017 bull run, which saw XRP increase by over 61,000%. The forecast includes an initial rise to $2, then a pullback before continuing upward to possibly $10. Another analyst, Dark Defender, using Elliott Wave theory, predicts a peak of $18 in this bull run.
Currently, XRP is trading at approximately $1.90, reflecting an increase of over 18% in the last 24 hours, according to data from CoinMarketCap.
