One crypto expert, known as Ripple Queen, is making waves with a bold forecast: the price of XRP could potentially surge to $10,000. The analyst points to several key factors as reasons why this ambitious goal could actually be within reach.
Is a $10,000 XRP Price Already Inevitable?
In a recent update on the X platform, Ripple Queen confidently stated that an XRP value of $10,000 is practically “locked in.” She argues that the numbers support this prediction, highlighting XRP’s limited supply and its distinct utility. She also believes that increasing adoption of XRP globally plays a crucial role.
Related Reading
Ripple Queen further suggests that the developing regulatory landscape is turning positive for the entire cryptocurrency space, which is favorable for XRP’s price. Specifically, with regulations like the GENIUS Act taking shape, Ripple is poised to grow its operations. This expansion is expected to drive even more adoption of XRP, which is central to Ripple’s business. Ripple’s Chief Technology Officer, David Schwartz, recently reiterated that XRP will continue to serve as a key “bridge currency” for their payment solutions.
Building on this, Ripple Queen notes that widespread adoption is no longer a distant possibility but rather a fast-approaching reality. She suggests this is the driving force behind her $10,000 XRP price target. She also mentions that banks and large financial institutions are actively accumulating XRP behind the scenes, a trend she believes will soon lead to a significant supply shortage.
The potential approval of spot XRP ETFs will also provide these institutions with additional channels for accumulating XRP. Experts at Bloomberg, Eric Balchunas and James Seyffart, have estimated a 95% probability of XRP ETF approval. The introduction of these funds is projected to bring even more investment into the XRP ecosystem, supporting a bullish outlook for its price.
XRP’s Current Price Action on the Path to $10,000
Another cryptocurrency analyst, CasiTrades, is offering insights into XRP’s current price movement as investors anticipate the projected surge toward $10,000. According to a recent update on X, CasiTrades believes the price action is not yet demonstrating a bearish signal from a technical perspective, despite the recent market correction. The analyst points out that the low of $2.75 remains above the wave 1 high of around $2.65, suggesting the broader uptrend is still intact.
Related Reading
CasiTrades further explains that bullish divergences are appearing on charts ranging from the 15-minute to the 4-hour timeframe. She indicates this supports the idea that $2.75 could represent the bottom of the current correction. Looking ahead, she states that a sustained move back above $3.21, followed by a strong breakthrough, would signal the end of the correction and the beginning of the next upward leg. If this occurs, the next target zone for XRP would be between $4.60 and $4.80.
According to data from CoinMarketCap, XRP is currently trading around $3.05, showing a gain of over 2% in the past 24 hours.
Featured image from Getty Images, chart from Tradingview.com