The prominent Singapore-based crypto exchange Bitrue, known for its pro-XRP efforts, has recently sparked speculations about XRP’s price amid the unfolding bull run.
Taking to the social media platform X, Bitrue sought the view of XRP enthusiasts about the next price target for XRP.
“What price will XRP break,” the exchange tweeted, throwing open spirited conversations about XRP’s price potential.
What price will #XRP break?
— Bitrue (@BitrueOfficial) December 5, 2023
XRP to $1 or $50?
Bitrue’s tweet generated substantial engagement, featuring varied price projections for XRP. One of the leading commenters was a brand ambassador of XRPayNet.
He argued that XRP is now on the path to $50. This remarkable forecast for XRP is grounded in the newly revealed FinTech market opportunity in Africa, estimated to be $2.7 trillion. As The Crypto Basic reported yesterday, Ripple has highlighted the crucial role XRP could play in the payment landscape of Africa.
Besides, Ripple cited that the revenue from financial services in Africa is anticipated to reach $230 billion by 2025. As a result, it forged a strategic alliance with African-based payment processor Onafriq to tap from the projected revenue stream with XRP in the picture.
“The $2.7T market in Africa would send it [XRP] to $50,” the XRPayNet ambassador remarked. However, it remains unclear if the XRPPayNet ambassador was serious or just making jest, as XRP attaining $50 from its current price necessitates a nearly 8,000% growth.
Meanwhile, a U.S.-based data engineer, Don Manning, argued that XRP should ‘technically’ break into the $1 to $1.3 range given the overall bullish state of the crypto market and XRP’s regulatory wins. “But something is holding it back,” Manning added.
XRP ‘Breaking Heart’ Instead
While many other commenters echoed a similar view that XRP’s price would break $1 soon, some voiced skepticism regarding the feasibility of the widely embraced bullish forecasts.
For instance, a crypto enthusiast humorously remarked that XRP would rather break hearts daily than break any price targets.
Notably, this humorous perspective may stem from the observation that despite Bitcoin surging from $38,000 to over $44,000 in just seven days, XRP has experienced minimal impact. Moreover, data has shown that XRP was worth $0.5 in 2018, a range it still occupies five years later, essentially ‘breaking investors’ hearts.
Read the full article here