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ZyCrypto 2025-02-03 15:39:45

Ripple’s XRP At $10,000? Why BitLab Academy Director Calls The Price Target ‘Ridiculous’

Ripple’s XRP At $10,000? Why BitLab Academy Director Calls The Price Target ‘Ridiculous’

Although the recent positive regulatory developments for Ripple have reinforced investors’ bullish conviction in XRP, a popular analyst is suggesting that the dream of the altcoin reaching as high as $10,000 is overly optimistic. Pundit Explains Why $10,000 Is Not A Feasible Target In an X post , BitLab Academy Director Kelly Kellam slammed the predictions, suggesting XRP could rocket to a whopping $10,000. Kellam thinks such forecasts are absolutely ludicrous. In his opinion, anyone convinced that XRP will reach this ambitious milestone would be better off donating their money to charity. The pundit noted that XRP will likely enjoy a parabolic surge in this cycle, but a price of $10,000 per coin is rather far-fetched. He cited XRP’s market cap as a key reason the crypto can’t achieve such a price level. According to Kellam, for the crypto to hit $10K, its market cap would have to soar to an unimaginable $577 trillion, even before considering inflation. He shared a more reasonable figure of $6-$10 per XRP. In an extremely bullish scenario, a hype-driven rally could push the XRP price to $20, the BitLab Academy Director posited. While he sees XRP hitting $30 in case of an “overwhelming supercycle”, Kellam says anything beyond is highly unlikely. Why An XRP Price Boom Is Inevitable XRP recently rocketed after reports emerged that Ripple CEO Brad Garlinghouse was advocating for the inclusion of the third-largest crypto in a U.S.-based crypto reserve. Additionally, a potential resolution to the protracted Ripple vs. Securities and Exchange Commission lawsuit under the Donald Trump administration could pave the way for the greenlighting and launch of spot XRP exchange-traded funds (ETFs). Analysts at JPMorgan have predicted that an XRP ETF could pull in between $3 billion and $8 billion in inflows . This influx of capital can propel XRP’s price substantially higher. Hopes for a spot XRP ETF emerged after Donald Trump won the Presidential election in November 2024 against Democrat Kamala Harris. As a result, most commentators expect huge regulatory transformations that will be a boon for the crypto industry across the board. Asset managers like Bitwise , Canary Capital , Grayscale , 21Shares , and WisdomTree have already submitted their spot XRP ETF proposals to the SEC.

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