A market analyst suggests XRP is capable of skyrocketing to triple-digit figures, potentially becoming the most valuable asset globally.
The Block Bull proposes that XRP could reach between $190 and $250 sometime in the future. While this target has triggered skepticism, the market analyst recently outlined how he believes the goal could be achieved.
Possible Factors Behind XRP’s Projected Surge to $250
He based the prediction on a series of developments and anticipated market movements. One key factor is the recent conclusion of Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC).
Judge Analisa Torres ordered Ripple to pay a $125 million fine for violating securities laws through its past institutional XRP sales. This ruling brings a degree of legal clarity to XRP and potentially sets the ground for greater institutional adoption.
The Block Bull argues that once Ripple settles the fine, XRP could hit $4 within three weeks, leveraging the positive sentiment and renewed investor confidence. This would mark a 565% price surge.
Looking ahead, the analyst believes that XRP could reach a minimum of $27 by 2025. Meanwhile, he argued that the potential for three-digit prices depends on the role XRP could play in the global financial system, particularly in managing the $10.8 trillion locked in nostro and vostro accounts globally.
These accounts, used by banks to facilitate international trade, require huge amounts of liquidity, which XRP could provide if it becomes widely adopted as a bridge asset. According to The Block Bull, this adoption could push XRP’s price to between $190 and $250. Analyst Javon Marks has also persistently predicted the $200+ target.
However, reaching such astronomical prices would require an influx of capital on an unprecedented scale. To put things into perspective, a $250 price tag for XRP would translate into a market cap of over $14 trillion, surpassing the entire stock market capitalization of major economies.
XRP Current Position
Meanwhile, XRP trades for $0.6015, showing signs of strength. In the Ichimoku Cloud, XRP is trading above the Conversion Line ($0.5284), Base Line ($0.5224), and both spans of the cloud (with the Lagging Span A at $0.5638). This positioning suggests a bullish trend.
Moreover, the Triple Exponential Average indicator is currently at 22.04. While it has decreased from a high of 71.11 observed in early August, the TRIX remains in positive territory, which could indicate that the longer-term trend is still upward.
However, the recent drop in TRIX might suggest that XRP is experiencing a slowdown in momentum, potentially leading to a period of consolidation.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
