In a YouTube video, Matt Lutch, a channel with more than 9,000 subscribers, speaks against many unrealistic and extreme price predictions for Ripple’s XRP token. The analyst offers what he calls a realistic perspective on XRP’s potential growth.
There are many XRP predictions with analysts estimating a spike range of $1 to $10,000 per coin. These extreme forecasts can mislead investors, giving them false hopes of getting rich quickly.
The analyst shares his personal experience with unrealistic predictions. During the last bull run, he invested in Celsius (CEL) after seeing projections of the token reaching $250. This taught him the dangers of buying into overly optimistic price targets without proper research.
The analyst explains that many crypto YouTubers focus more on views, subscribers, and engagement than on providing accurate information. XRP’s popularity as a searched cryptocurrency makes it a prime target for exaggerated content.
Next Big Airdrop?
Notcoin airdrop on Telegram made millions to people. Don’t miss out on the next TG airdrop by the same team – Dogs on Ton!
Show more +Show less – XRP Price Struggles
Based on the video, two major factors are affecting the price of XRP. The ongoing SEC case against XRP is acknowledged as a suppressive factor on its price, which might have been higher in the last bull run without this legal issue.
On Thursday, SEC cancelled the meeting behind closed doors and rumors were this one was about Ripple.
The second issue is XRP’s large market cap, which makes it difficult for the price to increase significantly. The video explains that moving from a $30 billion to a $300 billion market cap requires immense volume and is highly improbable.
Read Also: Will Injective’s (INJ) Surge Above Key Buy Zone Continue? Polkadot (DOT) Breaks Price Pattern, Eyes $12
XRP Realistic Price Forecast
Instead of the lofty $100 prediction, the analyst suggests a more grounded target of 5 to 10 times the current price. This projection considers XRP’s historical performance, noting that it failed to surpass its 2017 all-time high of over $2 during the 2021 bull run.
Comparisons are drawn to other popular cryptocurrencies like Cardano and Solana, which the analyst believes have similar growth potentials in the 5-10x range.
The video concludes with a caution against believing in unrealistic price predictions. Viewers are urged to question the motivations behind such claims and conduct their own research.
Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?Get all our future calls by joining our FREE Telegram group.
Check $RECQ Meme Coin Sponsored: Invest Responsibly, Do Your Own Research. Buy RECQ Today Serves as the base currency for all transactions within the Rebel Satoshi platform ICO stage, offering tokens at a discounted price Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
The post Ripple Analyst Warns XRP Price Will Not Reach $100: Reveals ‘Realistic’ Targets appeared first on CaptainAltcoin.