Ripple (XRP) is a cryptocurrency that has been around for quite a long time and has certainly been in the spotlight in recent years. This is, of course, due to Ripple’s major lawsuit against the Securities and Exchange Commission (SEC). However, despite this setback, XRP could rise to as much as $400 in the future, according to one analyst!
XRP to $400?
The striking statement was made by an analyst on Twitter called “MagicPoopCannon.” He told his more than 40,000 followers the following about his expectations regarding the ripple price:
“A compelling technical argument could be made that, sometime around the year 2026, XRP could be worth about $400. No joke.”
A convincing technical case could be made that, sometime around the year 2026, #XRP could be worth about $400. Not kidding.
— MAGIC (@MagicPoopCannon) June 11, 2022
However, the analyst, who calls himself a “legendary analyst”, expects that more pain is coming for the altcoin in the short term. For example, he sees a chance that XRP will fall in the price range between $0.13 and $0.09. Subsequently, the price could start a “monumental recovery”.
Is this ripple price prediction realistic?
MagicPoopCannon’s statement is quite something and should therefore be taken with a large grain of salt. Especially in view of the lack of further substantiation. In addition, there are a number of factors to consider when it comes to Ripple.
First, of course, is the XRP lawsuit. This revolves around whether the crypto is a security or not. Should the court rule that this is indeed the case, XRP will be de facto banned in the United States. And that’s a huge market for Ripple. A ruling in favor of the SEC could therefore mean another huge blow to XRP.
Second, there is currently more than 48 billion XRP in circulation. Multiplying that by $400 gives us an astronomical figure. Is it realistic that XRP’s market cap can grow to such heights? In crypto, anything is possible, but this seems like a pretty unlikely scenario.
XRP trading without jokes and jokes
We’ll probably never know if MagicPoopCannon is poking fun at us. But do you seriously want to learn more about XRP and trading with it? As a Crypto Insiders Premium member you do this without jokes and you get started with crypto together with us! Take a 30-day free look at our decided Discord†
