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The ambitious targets of cryptocurrency investors attract a significant portion of investors. But how likely is this? You can see popular crypto analysts giving a $1 target for LUNC or Shiba Coin. For example, in 2021, we saw names who announced targets of up to $2000 for SOL Coin. Most of them announced these unrealistic targets based on specific formations. But how realistic are they?
Long-Term Target for XRP Coin
Famous analyst XRP Coin price recently predicted a wild target of $333, believing that a major wave will occur according to the monthly chart. The well-known crypto analyst, Dark Defender, seems to believe that XRP will rise to $333. The market observer announced this ambitious target in his latest analysis, referring to historical data while observing the potential formation of a major wave.
Dark Defender first identified the Big Wave in March in an analysis. Despite initial skepticism, his views gained attention as XRP’s journey towards this major target gained momentum.
In April, the analyst announced a target of $1 for XRP until summer. This target was almost realized with the summary decision on July 13. The price rose to $0.93 on July 13. However, the excitement was dampened by the SEC‘s intention to appeal the decision.
Will XRP Coin Surpass $100?
Dark Defender predicted that XRP would break the $0.93 resistance level and move towards $1.33. This did not happen, and the popular crypto analyst updated his price model. The revised targets point to $1.88 and $5.85, followed by $18.22. Additionally, in his latest analysis, the analyst highlighted the “green signal” that heralds the expected Bull Run.
This signal accurately predicted previous significant price movements such as the 2017 Bull Run and the 2021 rally. Dark Defender noted that the indicator turning green again on March 23 indicates another potential significant price increase.
The technical explanation behind Dark Defender’s predictions lies in the Big Wave targets. This target indicates a staggering increase of 63,975% with the current price. However, the target inspired by the 2017 Bull Run, which saw a 66,240% increase in XRP’s price from February 2017 to January 2018, will not be realized during this period.
In a scenario where XRP Coin’s maximum supply is 100 billion and the price is $1, the market value should be $100 billion. According to the circulating supply, it should exceed $50 billion. If it reaches $10, it should reach a market value of $500 billion against $1 trillion. For a $100 target, it should have a market value of $5 trillion against $10 trillion. For $300, this figure will be $30 trillion to $15 trillion. When we add up all trillion-dollar companies today, including Apple, we cannot reach such a figure. Therefore, even targets in the range of $5-10 seem unrealistic in a scenario where the cumulative value of cryptocurrencies cannot exceed $5-6 billion.