The XRP has been difficult to overcome the critical resistance point of $ 2.30. A section of the Ripple community claims that token can reach the target of 100 dollars, but the current amount of supply, market value and technical analysis data contain serious signs that question the realism of this goal.
High supply and market value of XRP
The total supply of 58 billion units of XRP stands out as one of the main factors that make it difficult for the price to rise to astronomical levels. If the Token reaches $ 100, the total market value of the XRP will rise to approximately 5.8 trillion dollars. This refers to a economy almost three times larger compared to Bitcoin’s current $ 1.8 trillion market value.
Experts say that a valuation at this level is far from market realities. In order to achieve such a huge growth, it is noted that not only Ripple, but also the general financial system should be changed. Even steps such as Ripple and SWIFT integration will be insufficient to reach such a price level.
According to a report published by Standard Chartered, a more reasonable expectation is that the XRP increased by about six times from the current price and reaches $ 12 in the next three years. This prediction is considered as a more cautious and realistic target among crypto currency investors.
Altcoin Technical Analysis and Critical Support Points
Daily graphics show that the XRP is facing an intensive resistance at $ 2.55. This region has become an important reference point for investors as an area where high transaction volumes took place in the past. The RSI indicator indicates that the price is still tending to rise by watching over 50.
However, if the general sales pressure in the market increases, it is expected that RSI may go below 50 levels and the price may change by changing direction. In such a scenario, the XRP seems possible to re -test the support point of $ 1.79.
Short -term data reveal that XRP has a movement potential towards $ 2.94 or $ 3. However, it is emphasized that in order for this rise to be permanent, it is emphasized that both transaction volumes should increase and the general market sensitivity should remain positive.
In terms of long -term goals, experts are more cautious. In order for the XRP to reach $ 100, the price needs to increase by about 45 times. It is stated that a rise of this size should be supported not only with technical data but also with global macroeconomic factors.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
