Analysts’ Predictions for XRP’s Uptrend by the End of 2023
Many analysts are predicting an upward trend for Ripple’s XRP by the end of 2023. EGRAG CRYPTO forecasts that XRP could reach over $0.71, while Dark Defender is more optimistic with a target of $0.88.
However, it’s important to note that these ambitious predictions may be unrealistic. The entire crypto industry’s peak market cap in 2021 was around $3 trillion, making predictions like CryptoBull’s target of $470 and Shannon Thorp’s forecast of $500 highly unlikely.
XRP’s Short-Term Targets
Ripple’s native token, XRP, has been consolidating around the $0.60 mark. Analysts like EGRAG CRYPTO and Dark Defender believe that an uptrend is possible by the end of 2023.
EGRAG CRYPTO presents a chart suggesting that XRP could finish the year above $0.71, but warns of a potential drop to $0.55 before reaching that peak.
Dark Defender is more bullish, stating that XRP could reach $0.88 (a 45% increase) at the beginning of December. However, it should be noted that previous predictions from this analyst did not come true.
Some of the Ridiculous Predictions
There are some analysts who have made rather absurd forecasts for XRP. CryptoBull predicts a price of $470 and claims that it will easily reach $27.
Shannon Thorp forecasts a skyrocketing price of $500 for XRP in the coming years. However, this would require a market capitalization surge to around $250 trillion, which is highly unlikely considering the industry’s peak market cap was only $3 trillion in 2021.
Hot Take: Unrealistic Predictions for XRP
While some analysts are optimistic about an uptrend for XRP, it’s important to approach these predictions with caution. The highly ambitious forecasts, such as CryptoBull’s $470 target and Shannon Thorp’s $500 forecast, seem unrealistic given the current state of the crypto industry. With a peak market cap of around $3 trillion in 2021, it is unlikely that XRP will reach such astronomical prices. It’s always wise to consider multiple perspectives and analyze market trends before making any investment decisions.
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