Crypto analyst Chad Steingraber he did ultra-bullish price forecasts for the price of XRP, stating that the price of the crypto token could boost to a triple-digit amount. The analyst also outlined when the price target will be achieved.
XRP will hit $250 this market cycle
Steingraber mentioned in X (formerly Twitter) post that XRP will reach $250 by 2025, which he believes it will represent market peak for a cryptographic token this running of the bulls. He made this prediction by stating that Bitcoin and Ethereum will reach $250,000 and $25,000 in 2025, which will also be their peak in the market.
Steingraber has previously given a few reasons why he is so bullish on XRP and believes the crypto token can reach such heights. He once alluded to a potential XRP ETF as one of the factors that could trigger a significant rally in XRP prices. He explained that an XRP ETF would provide the crypto token with additional utility as fund issuers for XRP ETFs will direct its assets to an institutional liquidity center.
He believes that XRP ETFs will result in greater demand for the crypto token, ultimately driving up its price if a supply shock occurs. Steingraber also believes that Securities and Exchange Commission (SEC) the lawsuit against Ripple is so far one of the factors lowering the price of XRP.
He previously claimed that the price of XRP is not rising because there is no fresh money flowing into its ecosystem, and confirmed that the crypto token will likely see an inflow of fresh money whenever SEC v. Ripple case is over. Steingraber is not the only person who believes that the price of XRP could skyrocket and reach triple digits once the lawsuit is settled.
JackTheRippler cryptocurrency analyst Also predicted that after the case is over, XRP will rise above $100. The analyst offered an even more bullish forecast than Steingraber, stating that XRP reaching $10,000 was possible after the lawsuit. CryptoBull cryptocurrency analyst too predicted that XRP could reach triple digits, reaching 28,900% to $154.
Meanwhile, XRP price to $7.50
Cryptocurrency analyst Egrag Crypto suggested that XRP rising to $7.50 is a price target to watch before the cryptocurrency token reaches the heights predicted by analysts such as Steingraber. In Post Xhe stated that “$7.50 is goal No. 1.” Eggrag began to describe how it happened go to $7.50 will probably happen.
He stated that he strongly believes that XRP will break the white triangle (on the chart he shared) and hit measured movement at $1.50. He expects XRP to rise to $7.50 from there. However, he warned that the 1.618 Fib zone, where $7.50 is located, is “critical” and that many profiting will occur there, which suggests that XRP could drop significantly when it reaches this level.
Egrag added that the next targets for XRP will be “mid-double digits near Fib 2.414 and 2.618” if XRP archives a weekly close above Fib 1.618.
Featured image created with Dall.E, chart from Tradingview.com
