A crypto YouTuber, Matt Lutch, warned investors against very optimistic XRP price predictions in a YouTube video released on Monday. The analyst is offering a balanced approach to XRP price expectations while calling out some predictions as unlikely.
The YouTube presenter discouraged his subscribers from following various unrealistic XRP price predictions. Some of those expectations according to him include a potential XRP price spike to $100, $1,000, and even $10,000.
Despite all these, XRP has been stagnant for the past 6 years. But this has not stopped some people, who are keen on predicting high XRP valuations without considering the market cap.
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 –
Some people have also offered some doubts about the crypto price, stating that a $10,000 investment in XRP in 2018 will remain $10,000 now. Showing that the price has remained stagnant since then.
The highest price XRP has been since then is $2, and this was during the 2017–18 bull market. It failed to move as much as many other top cryptos did in 2020 and 2021 because of the issues they had with the SEC.
The analyst also agrees with the general market notion that the price of XRP will increase significantly following the case with the SEC. This would be because of renewed retail and institutional interest in the token.
Read Also: Top Crypto Gainers This Week: MEW, Helium (HNT), and dogwifhat (WIF)
Market Capitalization: A Key Factor
The crypto analyst pointed out XRP’s market capitalization. He said it is a key factor in determining its price. He also compared it to that of major trading instruments like Apple and Bitcoin.
Apple currently has a market cap of $2 trillion; Bitcoin is at $1.2 trillion. XRP at $10 or beyond would lead to a market capitalization of more than $600,000 billion (half of what Bitcoin has now), which the analyst sees as unlikely for the crypto.
The analyst argued that claims of XRP reaching such high prices including $100, $1,000, or even $10,000 were unlikely due to the impracticality of such high market capitalizations.
He acknowledged the arguments that XRP is useful in digital currencies and finance, but he expressed doubt about the price reaching such high points.
The analyst predicted that XRP would probably increase during the next bullish cycle and possibly reach new record highs. However, he expressed doubt about the price going beyond $10.
The analyst is warning viewers about being moderately hopeful for XRP bullish spikes but also maintaining realistic expectations.
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 Crypto Analyst Explains Why Ripple’s XRP Price Won’t Hit $10 appeared first on CaptainAltcoin.
