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An XRP rally to a price range between $394.21 and $594.72 might seem like an improbable dream, but suggestions from several entities have presented a possible timeline.
XRP is struggling to reclaim the crucial $0.55 psychological level amid the latest market-wide resurgence. Notably, Bitcoin (BTC) has staged a recovery, breaching the $41,000 level in a 4.27% 24-hour jump, as it looks to conquer $42,000.
The rest of the market is responding with notable price upswings, and XRP has leveraged this market recovery to breach pivotal levels. The asset recently broke above $0.51 and $0.52 with confidence, but the $0.53 level has presented stern resistance.
XRP currently trades for $0.5301, up 3.34% over the last 24 hours. Notably, XRP rallied to $0.5349 earlier today, but the bears have shown resilience in their attempt to push the crypto token below the $0.53 level. The asset now trades at a delicate position above $0.53.
Despite these struggles, market watchers have held onto their bullish long-term projections for the asset. While some analysts believe in XRP’s potential to clinch $27, others have more ambitious targets. The Crypto Basic recently assessed the target range of $394 to $594.
Changelly Predicts When XRP Could Hit $394 to $594
Changelly, a notable crypto exchange platform, shared some insights into the possible timeline for XRP to hit this target in a report today. The report first highlighted XRP’s current position and recent performance, noting that the token has had only 11 green days over the past month.
In addition, XRP’s current volatility stands at 6.01%, with a Fear and Greed Index of 48, suggesting largely neutral sentiments. Changelly’s outlook for XRP is bullish, with a forecast that the token will end January at $0.6968, representing a 31% increase from its current price.
However, they believe XRP will face a retracement, eventually dropping to the $0.54 level in late February. Overall, the platform does not expect XRP to hit $1 this year, predicting a maximum price of $0.8552 for the asset in 2024, and an average price of $0.7377.
The Changelly team believes XRP will hit $1 next year, and then clinch a two-digit price from 2031. They see XRP’s value hitting three-digit in the next 16 years, with a projection that the asset could soar to $394.21 in 2040. The team projects a maximum price of $594.72 for XRP in 2050.
Insights from Google Bard
We presented the $394 to $594 target range to AI chatbot Google Bard. In its response, Bard noted that predicting a particular time for such an ambitious price target is challenging, citing XRP’s current price of $0.5301.
Bard called attention to several factors that could hinder XRP’s rally to the three-figure prices. One of these is the asset’s market cap, which currently hovers at $28 billion. The AI chatbot noted that such a price would skyrocket XRP’s valuation to unimaginable levels, far surpassing the entire crypto market.
The second factor is a technical analysis point of view. Bard suggested that XRP’s technicals indicate that a surge to such value is improbable. The chatbot also emphasized that some external factors could also hinder an XRP rally to the price range.
According to Bard, in the short term, within the next few months or the next year, XRP would not be able to hit this target. In the medium term, within the next few years, Bard also does not see XRP clinching $394 to $594. However, the chatbot said it is only theoretically possible that the asset could see these values in over 5 years.
