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Top Market Watcher Says XRP To Hit Double Digits Eventually

source-logo  thecryptobasic.com 26 May 2023 15:28, UTC

NCash believes previous predictions of a massive price surge for XRP are not that far off, as the community will eventually see the asset hit double digits.

XRP is currently a long way from hitting the price predictions of $20 to $30 made by analysts back in 2020. NCash, a prominent crypto YouTuber and market watcher, called attention to this bearish turn of events but asserted that the asset would eventually hit a double-digit price.

NCash made this remark today while highlighting the state of the XRP market, especially as influenced by factors such as the prevalent bear market and the ongoing legal battle between Ripple and the US SEC.

“If you were around in 2020, you probably know the historical XRP $20-$30 price predictions. Although they never morphed into reality, I believe we will see a double-digit XRP eventually,” the market watcher remarked.

If you were around in 2020, then you probably know of the historical $XRP $20-$30 price predictions.

Although they never morphed into reality, I do believe we will see a double digit #XRP eventually.

The SEC suppressed price action greatly on XRP. I do wonder where we would be…

— Nick | Crypto Crusader (@NCashOfficial) May 26, 2023

NCash emphasized that the SEC’s lawsuit, which began in December 2020, exerted immense pressure on XRP’s price action. He raised the question of the current value of XRP if the lawsuit had not occurred.

An Unwavering Bullish Outlook on XRP

However, the analyst sees a silver lining to this bearishness, stressing that it allows investors to procure XRP at a discount – specifically under the $0.50 price point. He further asserted that market participants might still see the asset drop to the level between $0.20 and $0.30, but he sees this as another opportunity to procure the asset.

NCash’s long-term bullish outlook on XRP is hinged on the latest developments surrounding Ripple and XRP. The Crypto Basic has reported most of these developments, including Ripple’s acquisition of Metaco, Ripple’s CBDC platform rollout, Ripple’s expansion plans, and the positive trajectory of the SEC litigation.

He noted that these moves continue to present the XRP Ledger (XRPL) as an efficient network for prominent use cases, further bolstering user adoption and network activity. He noted that XRP and the XRPL are seeing more “substance” than observed in 2017/2018 when XRP hit its all-time high.

“I have heard arguments of never being an ATH for XRP again; it’s ridiculous. The market cap of Bitcoin at ATHs was just over $1T, and Ethereum has over $580B. It’s absolutely crazy to think that XRP will never be worth $500B-$1T+ with everything happening behind the scenes,” he said.

Notably, with a current market cap of $24 billion, XRP remains the fourth largest non-stablecoin by valuation. Should its circulating supply remain fixed, reaching a market capitalization of $500 billion would result in a price of $9.6 for XRP. The asset is trading for $0.4632, up 3.32% in the past 24 hours.