Analyst Claims XRP Price Remains Undervalued at $2.21
The current price of XRP is $2.21, which a crypto analyst considers undervalued. The analysis draws parallels with XRP's significant rally in 2017.
XRP Price Analysis
- The 2017 rally saw XRP soar from $0.005 to an all-time high of $3.84, representing a 64,000% increase.
- At its peak, XRP briefly surpassed Ethereum in market cap, becoming the second-largest cryptocurrency.
- This surge was attributed to retail FOMO without institutional support or regulatory clarity.
- Ripple Labs has since launched the RLUSD stablecoin and gained regulatory approval in the US, enhancing XRP's market position.
- An upcoming IPO for Ripple could further strengthen XRP's infrastructure.
- Despite these advancements, XRP has not revisited its previous all-time high, leading to claims that it remains “unactivated.”
Future Potential
- If XRP replicates its 2017 growth, analysts suggest a potential price target of $1,414.40 from its current level.
- This growth would depend on institutional investment and real-world adoption alongside retail momentum.
- The analyst posits that external forces may have suppressed XRP’s growth due to its disruptive potential, citing the US SEC lawsuit as part of this narrative.
