RalstonMaximus,atraderwithdecadesofmarketexperience,believessomeofthemostambitiousXRPpricetargetsarenotunreasonableinthisbullmarket.
HeexpressedthisboldperspectiveinapostonX,respondingtoacriticwhoquestionedhisbullishtargetsforXRP.MaximusinitiallysparkedtheconversationbystatingthatXRPinfluencershave“ruined”livesbypromotingoverlyoptimisticpricetargets.
Thecritic,@Phoddler,pointedoutthatMaximushimselfisguiltyofthesame,highlightinghispreviousforecastof$35forXRP.
However,Maximuscounteredthatheisatraderwithalong-terminvestmentinXRPandisextremelybullishontheasset.HenotedthathisoptimistictargetsarecontingentonXRPovercomingitslong-standingresistancelevels.
Still,Phoddlerinsistedthatatargetof$30to$35—oreven$7—is“ridiculous”andunattainableforXRP.Accordingtohim,XRPismorelikelytotankto$0.30thanriseto$7.
Inresponse,Maximusexplainedthatthe$35targetrepresents“thelargermeasuredmove”forXRP,indicatinghismostoptimisticlevel,while$7isamoreconservativeoutlook.Heinsistedthatthesepriceprojectionsarenotridiculous,emphasizingthattheywillremainamirageuntilXRPbreaksoutofitsprolongeddowntrend.
Howthefuckis$30-35aridiculoustarget?It’sthelargermeasuredmove$30-35.$7isthesmallermeasuredmove.I’matraderwithmyonelongtermbag$xrp.Wegotbentupuntilbreakout.ThedifferenceisI’mhonestaboutit.Missedopportunityismissedopportunity.UFk.https://t.co/SGXARjCNmt
—MaximusPrime(@RalstonMax)October22,2024
What$7and$35PricePointsMeanforXRP
Currently,XRPisvaluedat$0.5303.Reaching$7wouldrequireagrowthof1,220%,whilethehighertargetof$35wouldnecessitateanevenmoresubstantialincreaseof6,500%.Notably,XRP’smarketcapwouldrisetoapproximately$400billionatthe$7price,and$2trillionat$35.
Notably,thesemarketcapswouldexceedEthereum’scurrentmarketcap,whichisapproximately$307billion.Similarly,thehighertargetwouldsurpassBitcoin’smarketcapofabout$1.3trillion.
WhileMaximusarguedthatsuchextraordinarymarketcapsareattainableforXRP,otheranalystshaveusedtheseimplicationstolabelsuchtargetsunrealistic.
Why$35is“NotRidiculous”forXRP,AccordingtoExperts
Interestingly,otheranalystswhoarguethatapriceabove$10isattainableforXRPoftendrawinspirationfromEthereum.
Forinstance,analystsCredibleandNick,founderofWeb3Alert,havepointedoutthatskepticsofXRP’spotentialoftenpredictEthereumcouldriseto$7,500–$10,000,resultinginamarketcapofaround$1.2trillion.
Theyarguethatifa$1.2trillionmarketcapisattainableforEthereum,itisrationaltoassumeXRPcouldachieveasimilartrillion-dollarmarketcap,especiallysinceXRPhasrivaledEthereuminmarketcapinthepast.
thecryptobasic.com