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Altcoin Moe, a prominent crypto trader, segments XRP price targets into groups of safe, feasible and unlikely ones.
The disclosure comes on the back of the uncertainty that has engulfed the broader crypto market, impacting altcoins like XRP. This uncertainty is the product of a massive pullback led by Bitcoin (BTC) following hawkish remarks from the Federal Reserve Chair Jerome Powell.
With XRP demonstrating impressive resilience, the altcoin has been the subject of several analyses, with market watchers presenting ambitious price targets.
Amid these bullish projections, Altcoin Moe, who boasts a decade of trading experience, suggests some targets are realistic while others are just too unlikely to materialize. He revealed this in a recent disclosure, presenting a similar commentary for 29 altcoins, including XRP.
Safe, Feasible and Unlikely XRP Price Targets
According to the analyst, market commentators and investors who envision a 4x increase for XRP might actually see their predictions come true. Altcoin Moe categorized a 4x projection as “Safe” for XRP.
He believes a 4x rise is likely for XRP in this cycle, which could push prices from the current $2.23 to $8.92, around the $9 level. Interestingly, while XRP traded for $0.53 in September, analyst Big Mike predicted a rally to $9.
Meanwhile, Altcoin Moe suggests that beyond the 4x projection, a 9x target for XRP this cycle is feasible, but failed to categorize it as safe.
This suggests that while a 9x is possible, unforeseen market conditions are capable of hindering it. Such a 9x rise would put XRP price at $20. Two months back, Crypto YouTuber ModernInvest claimed it would be weird if XRP failed to hit $20 in this cycle.
Speaking further, Altcoin Moe then stressed that those expecting XRP to surge 15x might face disappointments, as this rally is “unlikely.” For context, a 15x increase from this level would push XRP price to the $33 region.
Several market commentators such as wealth mentor Linda Jones and analyst Bobby A have predicted an XRP rally to $33. In September, market watcher EGRAG Crypto also projected a possible XRP rally to $33, leveraging Elliott Wave and Fibonacci levels. Economist XRP Shark insisted in July XRP could still target $33.
XRP Shows Resilience
The latest commentary from Altcoin Moe comes amid ongoing market turbulence. For context, Bitcoin recently collapsed from the $108,000 all-time high to trade below the $100,000 mark. In response, XRP has also observed sustained bearishness, but appears to be showing resilience, as it still maintains a 15% increase in December.
In comparison, Ethereum (ETH), the king altcoin, is down 8.09% in December, while Bitcoin has dropped 2.34% this month. At press time, XRP changes hands for $2.23, maintaining the $2 price level, which it plans to leverage as a springboard for when a market-wide rebound ensues.