Trader Ralston Maximus, who has extensive experience in the market, believes that some of the more ambitious price targets for XRP are not unrealistic in the current bull market. He expressed this viewpoint in a post on X, in response to a critic who questioned his bullish targets for XRP. Maximus had initially sparked the conversation by stating that XRP influencers have had a negative impact by promoting overly optimistic price targets.
The critic, @Phoddler, pointed out that Maximus himself is guilty of the same, referring to his previous forecast of $35 for XRP. However, Maximus defended himself by stating that he is a long-term investor in XRP and holds a strong bullish sentiment towards the asset. He explained that his optimistic targets are contingent on XRP overcoming its long-standing resistance levels.
Despite Maximus’ explanation, Phoddler remained skeptical and deemed targets of $30 to $35, or even $7, as “ridiculous” and unattainable for XRP. According to Phoddler, XRP is more likely to drop to $0.30 than to rise to $7.
In response, Maximus clarified that the $35 target represents the highest potential for XRP, while $7 is a more conservative outlook. He emphasized that these projections are not absurd and will only become a reality if XRP breaks out of its prolonged downtrend.
The current value of XRP stands at $0.5303. Achieving a price of $7 would require a growth of 1,220%, while reaching the higher target of $35 would necessitate a more substantial increase of 6,500%. Notably, XRP’s market cap would rise to approximately $400 billion at the $7 price and $2 trillion at $35. These market caps would surpass Ethereum’s current market cap of around $307 billion and even exceed Bitcoin’s market cap of about $1.3 trillion.
While Maximus argues that such high market caps are attainable for XRP, other analysts label these targets as unrealistic. However, some analysts who believe that XRP could reach a price above $10 draw inspiration from Ethereum. They point out that skeptics of XRP often predict Ethereum could rise to $7,500-$10,000, resulting in a market cap of around $1.2 trillion. Based on this comparison, they argue that it is rational to assume XRP could achieve a similar trillion-dollar market cap, especially considering XRP has previously rivaled Ethereum in market cap.
It is important to note that this content is informational and should not be considered financial advice. The opinions expressed in this article are those of the author and do not reflect the views of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions, and The Crypto Basic is not responsible for any financial losses incurred.