The popular crypto analyst, Crypto Assets Guy (CAG) recently offered a more grounded perspective on the future price of XRP in a tweet on X.
While some in the community predict that the token could reach triple-digit values, CAG cautions against optimistic forecasts.
While showing respect for XRP enthusiasts, CAG warned against overconfident price predictions.
He believes that XRP is unlikely to hit prices of $10,000. $1,000, $50 or even $10 per token anytime soon. Instead, he suggested XRP could potentially return to its all-time high around $3.80 by late 2023 or 2024, which he considers to be a satisfactory outcome for most investors.
His viewpoint, however, counters the more extravagant price projections within the crypto space. For instance, some analysts recently estimated XRP’s value could reach between $869 and $1,000, while one expert claimed it might exceed $500 based on its role in cross-border payments.
Nonetheless, CAG’s sober analysis has received mixed reactions from the XRP community. Some have supported his call for a more realistic approach, yet others criticize his projections.
On October 10, 2023, CAG supported his argument by listing 20 factors supporting his optimism about XRP, Ripple’s associated digital asset.
His reasoning covers a wide range of aspects, from XRP’s unique legal status in the United States to its technical superiority over other major cryptocurrencies like Bitcoin and Ethereum.
The crypto analyst further stressed that XRP is the only asset in the U.S with clear legal standing, as it’s officially deemed not a security.
He also highlighted the technical advantages of XRP, emphasizing that XRP transactions are faster, more cost-effective, and eco-friendly compared to Bitcoin and Ethereum.
CAG further, praised the XRP ledger for its impeccable security record, noting it has never been compromised. He also lauded the user-friendly XUMM wallet, claiming it surpasses MetaMask.
The analyst also observed the ongoing decline in the stock market, leading people to consider crypto as a safer investment. He anticipates Bitcoin spot ETF approvals within the next five months, which could positively impact the entire crypto market
Lastly, he mentioned the possibility of a full settlement between Ripple and the SEC by April 19, 2024, and praised the XRP community for its loyalty and strength.