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- XRP could reach $6.5 or more by 2030, dependent on Ripple’s adoption.
- Sustained demand for BTC and XRP could push XRP to a new all-time high.
Ripple [XRP] was up 10% over the past week, showing resilience as a large-cap altcoin that only Binance Coin [BNB] and Cardano [ADA] have matched over the same time.
The hype for Ripple as a platform has grown steadily, and this was reflected on the price chart.
The company’s stablecoin RLUSD has seen sustained growth since its launch, and its total supply reached $120 million. Its usage on the XRP Ledger has also increased due to the reduced transaction fees.
Source: CryptoQuant
Data from CryptoQuant showed that the transaction count was much higher on XRPL than on the Ethereum [ETH] network.
With Ripple having lofty aims to enable secure, instant, low-cost global transactions, much of the industry’s eyes are on the company and its token. How high could the price go by 2030?
XRP price prediction: Is $10 a viable target?
Source: XRP/USDT on TradingView
The crypto market is a rapidly changing beast, and it is very hard to make predictions a few months down the line, let alone five years. Yet, based solely on the price action, a decent attempt is possible.
On the monthly chart, the swing structure has been bullish since 2017. The $0.1644 level marked the lows from the 2017 rally. The absence of a monthly session close below this level was a sign of long-term bullishness.
Now, the previous session close at $1.99, which marked a key level, has been flipped to support. The early February selling pressure saw the level retested.
According to this chart, a new all-time high was set, but Coingecko data disagrees. This could be due to price data from different exchanges.
In either scenario, the strong move higher in recent months and a test of the 2017 highs meant that a breakout is likely at hand.
The Fibonacci extension levels showed that $4.06 and $5.28 were possible targets for this cycle.
The latter target would take the token’s market cap to $305 billion, which is roughly $30 billion shy of the current ETH market cap.
Source: XRP/USDT on TradingView
From a technical standpoint, the bullish structure of XRP on the monthly chart meant that the 61.8% and 100% extension levels at $5.28 and $6.5 were achievable.
Whether this actually materializes would be wholly in the hands of the market as a whole, and would depend on XRP adoption and also on Bitcoin’s performance.
A rising tide lifts all boats, and altcoins would certainly benefit from greater BTC demand.
Coming back to the XRP price chart, a weekly session close below the $2.08 level would be the first sign of a market structure shift, and could serve as a warning for a deeper retracement.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
