A well-known market analyst sees the prediction of $ 6 per coin for crypto XRP claimed by some experts as too conservative.
Crypto Bitlord suggested that the real target for XRP is $589 per coin, adding that those who doubt this target are “not delusional enough.” “
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Triple digit XRP price
Data showed that XRP the best performing crypto in the Trump-led digital asset bull run. So, again, a market expert is pushing the idea of $589 per coin.
Crypto Bitlord said that the real price target for XRP is not $6 as some commentators said but $589, adding that those who dismissed this three-digit target are not ambitious enough.
You are not deceptive enough with your price targets $XRP $589
– Crypto Bitlord (@crypto_bitlord7) December 16, 2024
The crypto analyst argued that the prices predicted by several market observers are conservative estimates, believing that $589 per unit is quite possible.
Before that, Crypto Bitlord had already announced that XRP would reach the price of three figures. However, he received disapproving reactions from investors for what they described as an ambitious dream.
Now, with the crypto asset performing very well in the bull market, Crypto Bitlord was able to fire back at them, saying that they were not “rude” enough.
Smoking crack?
There are several traders in the XRP community who do not share the same vision as Crypto Bitlord, seeing the target of $589 as impossible.
Earlier this month, another crypto analyst, Tony Edwards, downgraded the target of $589, calling the target a “fantasy”.
Edward argued that astronomical price predictions for the coin are false, saying, “People who want $589, $1,000, or $10,000 are “smoking crack.” “
i do $XRP price target for this cycle $5-$8. It could go a little higher but I'm going to play it safe and be conservative. People calling for $589, $1,000, and $10K are smoking crack. pic.twitter.com/joXwhGcxMq
– Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) December 2, 2024
Other analysts said that a triple-digit price would only happen if the crypto market capitalization hit $33 trillion, an amount that would be greater than the consolidated market cap of the top 20 American companies.
Edwards believed that the rally would send XRP prices between $5 and $8.
Altcoin performing well
Data revealed that XRP is benefiting greatly from the ongoing crypto bull market led by Donald Trump regaining the White House.
Last month, the crypto price increased by 283% and halfway through December, it has already increased by 23%, almost reaching $3.
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A CNBC report dubbed XRP the “biggest winner” in the Trump-led cryptocurrency rally. According to CNBC, since Trump won the US election, the price of XRP has increased by 370%, outperforming the digital asset market in general.
In comparison, Bitcoin has only increased by 45% in the same period, while the entire cryptocurrency market has increased by 91%.
At press time, XRP is to buy for 2.36 US dollars with a total market capitalization of $136 billion.
Featured image from, chart from TradingView
