thecryptobasic.com
Investors are confident that $XRP will clinch new highs this cycle, but the rally expected to turn pennies into fortunes might not materialize anytime soon.
The impact of the broader market downturn on $XRP has been evident, as the altcoin has struggled to maintain its footing above the psychologically important $2 mark. However, in recent days, $XRP has observed a mild recovery push, up over 5% in the past 24 hours to trade at $2.17.
Analysts Expect $XRP to Reach $5 to $10
These frequent instances of recovery efforts have helped $XRP hold above $2 despite the ongoing market turbulence. They have also contributed to optimism among investors who believe $XRP still has the potential to claim new highs in this cycle. For example, analyst Dr. Cat suggested that $XRP’s worst-case scenario for this run would see it hit $4.5.
Meanwhile, others have called for higher price targets. Most recently, market watcher EGRAG Crypto predicted that $XRP could hit the Fibonacci level aligning with the $5 mark. However, he identified four signs of strength that are necessary for a run toward this region.
Further, earlier this month, Bitget’s Chief Analyst Ryan Lee projected bullish $XRP price goals, with his bull case targeting a maximum of $10. However, Lee’s projected timeline is less bullish than most, as he expects the $10 price to materialize in 2030. Notably, Cas Abbé believes $XRP could hit $10 this cycle.
Nonetheless, while a price range of $5 to $10 remains a largely bullish target for $XRP, it might not bring the gains some investors expect. For instance, some $XRP investors hold 1,000 tokens but look forward to securing fortunes when $XRP hits some of these price targets.
Holding 1,000 $XRP won’t Make You Rich, even if $XRP claims $5 to $10
To put things into perspective, 1,000 $XRP tokens are currently worth $2,170 at the current price of $2.17. If $XRP secures a 130% increase from here to claim the $5 target, this investment will be worth $5,000, presenting returns of $2,830. While this is a positive ROI, it’s still far from making anyone rich in any country.
Meanwhile, the $10 price target, representing a more substantial 361% gain, would push these tokens to a worth of $10,000. Still, these returns are not sufficient to place the investor among the rich in their space.
For $XRP investors to gain substantially in this bull run, they would need to hold larger amounts for when the asset reaches targets such as $5 to $10. For instance, an investor with a balance of 150,000 $XRP, currently worth $325K, would see their investment hit $750,000 when $XRP hits $5 and $1.5 million when $XRP claims $10.
However, an alternative approach to securing larger gains from smaller investments would be to await a more massive $XRP price explosion. For this, targets of $20, $50, and $100 have featured among market experts.
Nonetheless, with its total supply of 100 billion tokens, $XRP’s market cap would soar to $2 trillion for a $20 price and $10 trillion for $100. For context, the lower valuation would surpass Bitcoin’s current market cap, which now sits at $1.6 trillion.
Notable, critics who have questioned $XRP’s ability to reach these lofty targets have often cited this market cap effect. Meanwhile, other industry experts have dismissed these concerns, arguing that the market cap does not matter.