XRP Price Will Hit $10,000, One User’s Calculation Shows

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As an analyst with over two decades of experience in the financial markets, I’ve seen my fair share of bullish predictions that never quite materialized. However, the recent XRP rally and its potential to hit $10,000 based on supply and liquidity constraints has piqued my interest. While a surge of 4295% is unprecedented in today’s market conditions, it’s worth noting that the digital asset space is notorious for defying conventional wisdom.

As an analyst, I’ve observed a significant surge in XRP prices surpassing the $2.3 mark recently – a level last seen in 2018. This impressive upswing coincides with Bitcoin testing the $100K threshold, leading to a wave of optimism among investors. It’s not uncommon for such enthusiasm to foster ambitious predictions and theories about their preferred coins. In this CoinGape article, I delve into one investor’s theory that posits XRP could potentially reach $10,000, attributing the prediction to supply and liquidity constraints.

XRP Price Could Hit $10,000 Based on Supply, Liquidity

Discussions about the future price of XRP have ignited passionate debates, with some supporters envisioning a staggering increase to $10,000 or beyond. This optimism stems from XRP’s potential role as a global bridge currency, bolstered by partnerships with influential financial entities such as SWIFT and growing acceptance among banks. However, the post points out that, in reality, approximately $130 billion would be required to purchase all the XRP currently in circulation, highlighting liquidity as a significant factor in determining its potential value.

Supporters believe that Ripple‘s partnerships with banks and financial organizations establish a solid base for XRP to become widely adopted. A user stated, “It’s not something you acquire; it’s something you possess,” emphasizing the difference between XRP’s market value and its practical worth. Additionally, they assert that Ripple is quickly onboarding new banking allies, which bolsters XRP’s long-term potential.

To hit $10,000, XRP would need an extraordinary price increase of more than 4295%. The key issue is whether such a significant rise is possible under the present market circumstances.

XRP Technical Analysis: Ripple Eyes $3

Over the past day, XRP’s price has experienced a minor adjustment of 1%, currently standing at $2.33. After an impressive 40% increase over the last week due to Bitcoin’s price surge, XRP’s price is now showing signs of stabilization, suggesting a possible setup for the next substantial shift.

From December 3rd to 4th, XRP underwent a significant drop, going from around $2.80 down to a bottom of $2.23. This represented roughly a 20% plunge, and $2.23 emerged as a crucial support level. Despite this steep decrease, XRP has now established a lower base, which typically signals the early phases of a bullish trend reversal.

As an analyst, if the bullish momentum continues to hold strong, I predict that the XRP price may reach an equivalent high of approximately $2.87 – a significant resistance level to keep an eye on. Should we observe a consistent breakout beyond this point, it could potentially propel XRP towards the $3 mark, indicating a possible 15% surge from our current position.

The Relative Strength Index (RSI) stands at 52. This level indicates moderate bullish momentum, which remains above the neutral 50 level. The Awesome Oscillator (AO) reflects increasing bullish momentum with green histogram bars above the zero line.

To put it simply, the increasing positive trend of XRP indicates possible profits, yet the idea of reaching $10,000 is still largely theoretical. With expanding adoption, hitting a price point near $3 in the short term appears increasingly likely, maintaining enthusiasm among investors.

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2024-12-06 13:40