XRP Primed For $100 Price Target – Here’s Why

Semilore Faleti

6 months ago

2 mins read

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According to data from CoinMarketCap, XRP rose by 15.57% in the past day to cap off what has been an impressive price performance over the last week. Amidst Bitcoin’s journey to the $90,000 price zone, the seventh-largest cryptocurrency emerged as one of the biggest weekly gainers with a 60.76% price increase.

Following this price surge, a crypto analyst with X username BarriC has provided some interesting predictions on XRP’s future.

XRP To Reach $10 In Bull Market, But There’s More

In an X post on November 15, BarriC released several price targets for XRP tied to certain conditions. Firstly, the analyst forecasted XRP to attain a market price between $6-$10 in the crypto bull run, representing a minimum potential 500% gain on the token’s present price.

These high expectations by BarriC are rather not uncommon due to several factors especially Donald Trump’s recent electoral victory which is expected to usher in a crypto-friendly US government.

For XRP, the Republican President sticking to his electoral crypto manifesto holds massive importance as it may bring a decisive end to the legal battle between Ripple and the SEC, and permanently halt the regulatory uncertainty over the token.

In addition, Trump’s presidency also boosts the possibility of the XRP spot ETF with the SEC expected to present fewer regulatory hurdles for crypto-linked securities. Following approval, BarriC postulates a spot ETF can drive the altcoin to a market price of $15-$20 if approval comes amidst the bull market run.

Furthermore, the analyst discusses a utility run during which the altcoin will undergo massive adoption in its use for cross-border transactions and as an institutional bridge cryptocurrency for banks. If the utility run occurs as predicted with global adoption levels of XRP, BarriC forecasts the altcoin to attain a minimal price of $100.

Market Whales Boost Holdings By 320 Million XRP

In other news, whales in the XRP market have acquired over 320 million XRP, valued at $285 million, in the last 72 hours amidst the token’s recent price surge. The coin rose from around $0.69 to reach a local peak of $0.92 as Gary Gensler “supposedly” hinted at a resignation as SEC chairman.

While the altcoin has recorded a slight price decline of 1.2% in the past hour, the massive purchase by whales indicates a belief in the asset for long-term profitability. At the time of writing. XRP trades at 0.89, with his market cap value now above $50 billion. In tandem, the token’s trading volume is up by 24.71% and valued at $11.75 billion.

XRP trading at $0.8941 on the daily chart | Source: XRPUSDT chart on Tradingview.com

Featured image from StormGain, chart from Tradingview

Semilore Faleti

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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