Crypto analyst Ripple Queen has made a bold prediction that the XRP price can reach $10,000 at some point. The analyst also highlighted factors that make this price target achievable despite how ambitious it is.
XRP Price To $10,000 Is Already On The Horizon
In an X post, Ripple Queen declared that an XRP price tag of $10,000 is already “locked in.” She claimed that the math proves that the altcoin can reach this target and then alluded to how its supply is limited and its utility is unmatched. The analyst added that the world is catching up fast, indicating that more people are adopting XRP.
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Ripple Queen further stated that regulatory clarity is falling into place for the crypto industry, which is bullish for the XRP price. Thanks to this regulatory clarity, with laws like the GENIUS Act, Ripple is set to expand its operations, which will boost XRP’s adoption. The altcoin is known to be at the centre of the crypto firm’s operations. Ripple CTO David Schwartz also recently indicated that it will continue to be the bridge currency for their payment services.
In line with this, Ripple Queen remarked that mass adoption is no longer a dream but a countdown, which is why she believes that the XRP price will reach $10,000. The analyst also stated that banks and institutional investors are quietly accumulating, a move that she is confident will soon lead to a massive supply shock for the altcoin.
These institutional investors will also have an avenue to accumulate more XRP once the SEC approves the spot ETFs. Bloomberg analysts Eric Balchunas and James Seyffart have already predicted a 95% chance of approval for the XRP ETFs. The launch of these funds will drive more capital into the altcoin’s ecosystem, which is bullish for the XRP price.
Current Price Action On Journey To $10,000
Crypto analyst CasiTrades has provided insights into the current XRP price action, even as it eyes this projected rally to $10,000. In an X post, she stated that the price action isn’t bearish yet from a technical standpoint despite the recent correction. The analyst noted that the low at $2.75 remains above the wave 1 high around $2.65, which keeps the larger uptrend intact.
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CasiTrades further revealed that bullish divergences are showing up on the 15-minute chart up to the 4-hour chart. She claimed that this supports the case that $2.75 could be the bottom of this corrective wave. Moving forward, the analyst stated that a proper reclaim of $3.21 and a strong break above this level would begin to confirm that the correction is over and that the next leg up is underway. If that happens, the next target zone will be between $4.60 and $4.80.
At the time of writing, the XRP price is trading at around $3.05, up over 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com