The recent XRP rally has led to a breach of $2.3, a level not seen since 2018. This impressive upswing comes amid Bitcoin’s $100K retest. With such optimism, it isn’t unlikely for investors to become extremely bullish and predict wild targets and theories for the coin of their liking. In this CoinGape article, let’s explore this one user’s theory which suggests that XRP price will hit $10,000 due to supply and liquidity constraints.
XRP Price Could Hit $10,000 Based on Supply, Liquidity
XRP price predictions have sparked intense discussions, with some enthusiasts speculating a monumental rise to $10,000 or more. The speculation centers on XRP’s potential as a global bridge currency, leveraging partnerships with major financial networks like SWIFT and an increasing adoption rate among banks. “In reality, you would only need about $130 billion to buy up all the XRP in circlation,” the post suggests, emphasizing liquidity as a crucial factor for such a value.
Proponents argue that Ripple’s collaborations with banks and financial institutions create a foundation for XRP’s widespread use. According to the user, “It’s not somthing you need; its something you have,” highlighting the distinction between XRP’s market cap and its functional value. They also claim that Ripple is rapidly adding new banking partners, strengthening the XRP long-term prospects.
For XRP to reach $10,000, it would require an unprecedented rally of over 4295%. The big question remains: is such a surge technically feasible given the current market conditions?
XRP Technical Analysis: Ripple Eyes $3
The recent price of XRP shows a slight correction of 1% in the last 24 hours, trading at $2.33. Following massive 40% rally over the past week after the BTC price surge, XRP’s price has started consolidating, indicating a potential setup for the next significant move.
Between December 3 and 4, XRP experienced a steep decline, dropping from $2.80 to a low of $2.23. This marked an approximately 20% crash, with $2.23 acting as a critical support level. Despite this sharp correction, XRP has now formed a higher low, which often indicates the early stages of a bullish trend reversal.
If the bullish structure holds, the price could target an equal high of nearly $2.87, a critical resistance level. A sustained breakout above $2.87 could propel XRP toward the $3 mark, representing a potential 15% rally from the current price.
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.
In summary, the XRP bullish momentum suggests potential gains, but a $10,000 target remains speculative. As adoption grows, short-term moves toward $3 seem more achievable, keeping investor optimism.
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