In a recent appearance on Tony Edward’s The Thinking Crypto podcast, well-known analyst Credible presented a persuasive argument for XRP’s potential to surge to $20-30. According to Credible, this optimistic forecast for XRP is not unfounded, despite what critics may say. He provided mathematical evidence to support the notion that these lofty price targets are not only achievable but also realistic expectations for XRP.
Credible began by emphasizing that XRP has been in an unprecedented seven-year consolidation phase, a phenomenon not observed with other cryptocurrencies. “No other coin has experienced such a prolonged consolidation period as XRP,” he stated. He attributed this situation to the unexpected SEC lawsuit that arose when XRP was trading at its local highs in the fourth quarter of 2020. Since then, XRP has struggled to recover. However, the analyst emphasized that consolidation should not be interpreted as a sign of weakness. Instead, he believes that XRP is simply building a solid foundation for future price growth during this extended period of consolidation. “The longer the consolidation, the greater the eventual expansion,” the analyst remarked.
Furthermore, Credible pointed out that based on the current market conditions, Bitcoin is poised to make a parabolic move and experience its most significant market rise since 2017. In light of this, he argued that it would be illogical to bet on XRP breaking down, especially now that the SEC lawsuit is behind us. Essentially, he stressed that the stage is set for XRP to break free from its prolonged sideways movement and experience a significant price increase.
When it comes to XRP’s potential price targets once it breaks out of consolidation, Credible stated that reaching the previous all-time high of $3.84 would be the starting point. He believes that XRP’s ultimate destination is an all-time high in the double-digit price range, with a minimum of $10. Achieving this price level would require a more than 16-fold increase from its current price of $0.5858.
Additionally, Credible argued that XRP could realistically reach prices between $20 and $30 during this market cycle. To put this into perspective, reaching the upper boundary would necessitate an astonishing growth of 5,021% from XRP’s current level.
Credible acknowledged the skepticism surrounding his projections, noting that many people initially dismiss his views as irrational. However, he pointed out a common contradiction in their thinking. When he asks skeptics if they believe in a $10,000 Ethereum, they usually respond affirmatively. He highlighted that while critics may emphasize the differences in token supply, the crucial aspect to focus on is market capitalization.
For context, Credible compared Ethereum’s current price of approximately $2,630 with XRP’s price of around $0.5858. He noted that their market caps are not as vastly different as the price suggests. Ethereum’s market cap stands at about $317 billion, while XRP’s is roughly $33 billion—a tenfold difference.
Credible explained that if Ethereum were to reach $10,000, it would correspond to a market cap of $1.2 trillion. He argued that a similar market cap for XRP would place its price above $20. Therefore, if one believes that Ethereum can reach $10,000, it follows that XRP could realistically exceed $20.
Furthermore, he reminded listeners that XRP had previously surpassed Ethereum in market cap, which occurred in 2018. Ultimately, the analyst emphasized that if XRP breaks out of its seven-year consolidation phase, reaching $10 becomes highly plausible. If Ethereum achieves a market cap of $1.2 trillion, XRP could reach $24, and even at half a trillion, it would still be valued at $10.
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