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In a recent appearance on Tony Edward’s The Thinking Crypto podcast, prominent analyst Credible made a compelling case for XRP’s potential to surge to $20-30.
According to Credible, this bullish forecast for XRP is not irrational, as many critics have argued. He provided the mathematical foundations for why such lofty highs are not only attainable but realistic expectations for XRP.
First, Credible emphasized that XRP has been in an unprecedented seven-year consolidation phase, a development not seen with other crypto assets. “No coin has consolidated as long as XRP has,” he said.
He attributed this outcome to the SEC lawsuit that “came out of the blue” when XRP was trading at local highs in Q4 2020. Since then, XRP has struggled to recover. However, the analyst stressed that consolidation is not a sign of weakness.
He believes XRP is merely creating a solid base for future price growth during this seven-year period. “The longer the consolidation, the bigger the expansion,” the analyst remarked.
Furthermore, Credible noted that based on the current market, Bitcoin is about to make a parabolic move and experience the biggest market rise since 2017.
As a result, he highlighted that it makes no sense to bet on XRP breaking down, especially as the SEC lawsuit is now behind. Essentially, he stressed that the stage is set for XRP to break out of its prolonged sideways movement.
Realistic XRP Targets Once it Breaks
Regarding XRP’s potential high price from the consolidation, Credible said hitting the old all-time high of $3.84 will be the starting point. He believes an all-time high in the double-digit price range is XRP’s destination, noting a minimum of $10. This price level would require an over 16-fold increase from the current price of $0.5858.
Meanwhile, Credible argued that XRP could realistically see further price pushes to between $20 and $30 this cycle. For context, the upper boundary requires an astonishing growth of 5,021% from XRP’s current level.
Mathematical Reasoning Why $30 XRP is “Realistic”
Credible acknowledged the skepticism surrounding his projections, noting that many people initially dismiss his views as irrational. However, he pointed out a common contradiction: when he asks skeptics if they believe in a $10,000 Ethereum, they usually respond affirmatively. He noted that while critics may highlight the differences in token supply, the key focus should be on market cap.
For context, Credible highlighted that while Ethereum is currently priced at approximately $2,630 and XRP at around $0.5858, their market caps are not as vastly different as the price suggests. Ethereum’s market cap stands at about $317 billion, compared to XRP’s roughly $33 billion—a tenfold difference.
Credible explained that if Ethereum were to reach $10,000, it would correspond to a market cap of $1.2 trillion. He noted that a similar cap for XRP would place it above $20. Accordingly, if one believes Ethereum can hit $10,000, it follows that XRP could realistically exceed $20.
Furthermore, he reminded listeners that XRP had previously surpassed Ethereum in market cap, which occurred in 2018.
Ultimately, the analyst stressed that should XRP break out of its seven-year consolidation phase, reaching $10 becomes very plausible. If Ethereum achieves a market cap of $1.2 trillion, XRP could reach $24, and even at half a trillion, it would still stand at $10.