Despite a recent 1% decline in XRP's value, analysts remain optimistic about the token's potential for profit. Over the past week, the #crypto market saw a notable boost, with many coins, including XRP, experiencing increases. This uptrend pushed the global crypto market cap to $2.22 trillion, with trading volumes reaching $72.41 billion. The recent market recovery, driven in part by the Federal Reserve’s 50bps interest rate cuts, has fueled bullish sentiment on social media and among analysts. One prominent analyst has even suggested that XRP could experience a parabolic surge, leading to significant financial gains for investors.
Analyst Predicts Parabolic Growth for XRP
Crypto analyst Crypto Bitlord believes that XRP is poised for significant growth, despite its underwhelming performance on the charts. XRP has long been a controversial asset, largely due to its inconsistent price movements. However, with the Ripple vs. SEC lawsuit nearing its conclusion, positive sentiment is beginning to build around the token.
Though XRP has only seen a modest 2% increase over the past week, Crypto Bitlord is convinced that a parabolic price explosion is imminent, predicting it could occur within 24 hours. He urged investors to seize the opportunity, hinting that millions could be made from this move.
“I think $XRP is ready,” Bitlord tweeted, “Expecting a parabolic explosion vertically within 24hrs. Don’t sleep; millions can be made timing this move.”
He also claimed that his previous XRP predictions led to substantial gains for investors and anticipates a similar outcome this time. However, hours after his post, XRP’s price remained largely unchanged, even dropping by 1% to $0.5856. The token’s market cap stands at $33 billion, while trading volume fell 12% over the last 24 hours, reflecting investor hesitation.
Could Ripple’s Price Hit $100?
Speculation around XRP’s future price potential is not new. Another well-known analyst, Crypto Tank, recently suggested that Ripple could reach $100 per token if it manages to capture 10% of SWIFT’s daily transaction volume.
SWIFT, the global payment network, processes $5 trillion in transactions daily (as of June 2022). According to Crypto Tank, if Ripple could secure even 10% of this volume, XRP’s price could skyrocket. This would require a massive increase in trading volume, around $500 billion—over 500 times its current daily volume of $987 million. While such a scenario seems unlikely under current market conditions, it has sparked debate within the crypto community.
“Do yourself a favor and stop listening to all these charters predicting different $’s,” Crypto Tank commented. “10% of SWIFT daily volume is a $100 XRP. Now, add in hundreds of banks globally. It’s impossible to chart what’s happening.”
This prediction has divided the community, with some supporting the idea due to their long-term faith in Ripple, while others remain skeptical.
Final Thoughts
XRP briefly recovered to $0.6058 before dropping again to $0.5856, falling short of Crypto Bitlord’s prediction of imminent parabolic growth. While his optimistic outlook initially energized #Ripple holders, the reality has tempered expectations. Nonetheless, many investors remain hopeful that XRP’s moment of explosive growth may still come, especially as the Ripple-SEC case continues to develop.
