Positive sentiments around XRP have increased lately due to its recent upward bullish momentum, garnering several audacious predictions from cryptocurrency analysts about the digital asset’s next trajectory on the upside. However, market expert and enthusiast, Crypto Michael, has brushed off the idea that XRP would rise 300 times its current price level, noting that such predictions are unlikely to occur.
300x Price Growth Is Byond Delusional For XRP
Market expert Crypto Michael shared his opinions on such bold predictions on the X (formerly Twitter) platform, which has triggered quite a frenzy within the XRP community. Michael’s criticism suggests that even though the altcoin has the potential to rally, the present fundamental research and the state of the market do not justify a 300x price projection.
His insights came in response to another popular cryptocurrency expert, Javon Marks’ XRP predictions last month. In late July, the analyst forecasted that XRP had conducted a test that indicated the digital asset was poised for a massive bullish breakout in the upcoming months, influenced by an optimistic market outlook.
According to Marks, should the market maintain its firm momentum, his predictions could come to light and create opportunities for extended price increases. Thus, he believes that the altcoin could rise by more than 41,000% to the $150 price level, utilizing a full Logarithmic Follow-Through.
Even though crypto predictions are not completely accurate, Michael is certain that Marks’ forecast is way off and detrimental to those looking forward to investing in the altcoin. The expert noted that it would be fortunate to see a 10x rise in XRP during this cycle, let alone a 300x price increase, as they are beyond delusional.
Furthermore, he claimed that holders of the coin who are expecting these ridiculous targets would be left with no significant results all the way down to the next bear market. As a result, he has cautioned the crypto investors against these absurd and speculative predictions within the community saying “Be careful who you listen.”
The Crypto Asset Is Like A Drunk And Abusive Father
Given XRP’s failure to initiate a major bull run since the 2021 cycle, unlike other notable coins, some crypto enthusiasts appear to have lost faith in the altcoin over time. Crypto expert, ProTheDoge, also known as Dogecoin Millionaire, in a recent post, has expressed his stark disbelief towards the altcoin, likening it to an irresponsible father.
According to the trader, trusting in XRP is equivalent to depending on an abusive and intoxicated father who walked to the corner store to buy cigarettes and promised to return but never did, while thinking he still might return someday.
The trader later disclosed that he invested $10,000 in the altcoin, and after a period of 1 year, his investment is still valued at exactly $10,000, indicating a lack of growth.
Featured image from Adobe Stock, chart from Tradingview.com
Credit: Source link
