By Michael Scott
Leading crypto commentator Zach Rector forecasts an XRP jump imminent as it overcomes the price suppression spell.
The popular Ripple advocate is confident that the XRP token will freely soar to astronomical levels. The expert urges the community to manifest the ambitious price of $1,000.
Zach Rector’s optimistic prediction for XRP aligns with fellow crypto pundit Drewski, who challenges the community’s input in manifesting a $1,000 price.
Drewski’s revelation harbors his desire and optimism that XRP will ultimately attain the ambitious target. The sentiments supporting XRP’s upward trajectory emerge as the token changes hand at $0.5587.
Drewski acknowledges that the seventh-ranked crypto by market value could garner the bullish steam to test triple-digit prices.
Is the $1,000 Price Ambitious for XRP?
The debate about XRP’s match to the ambitious $1000 is a year-long theme within the digital assets community. Notably, the conversation extends beyond market analysts and crypto podcasts as established entities, including Linqto and Uphold crypto exchange, join this trend.
The entry of prominent entities stirs the imaginations of the XRP holders about their beloved digital asset realizing a $1,000 value. Such conversations seek the XRP investors’ input, reading their reaction to the token to visit the $1,000 territory.
Putting the Drewski prediction into perspective yields a generous anticipation for XRP relative to its present value of $0.5587. The XRP rally to $1,000 amounts to a 1,800-fold return on investment (ROI).
Assuming a $1,000 investment per the scenario would translate to a $1,789,860 investment per XRP price today. Such is possible when the altcoin realizes the hypothetical milestone. One holding $100,000 worth of XRP today would translate to $179 million.
The accomplishment of such a breakout effectively transforms multiple retail investors into the millionaire segment. Also, current millionaires would leap into the multibillionaire segment.
Investor Mighty Mike indicated that the milestone would deliver cry-happy tears prior to further action.
One investor urged Drewski to create an educational platform to help individuals understand XRP. Such would enable enhanced conveyance of information to develop genuine belief in the ambitious $1,000 target.
One X user identified as BluePhoenix urged XRP enthusiasts to envision the potential beyond one’s gain but as a benefit to the entire community.
It is essential to note that if the XRP hit $1,000, the market value would hit $99.99 trillion. The supernormal cap leads many to downplay the prospect that XRP will hit a triple-digit price level.
Rector issued a bold statement on X following the formal appeal lodged by the SEC. He reiterated that XRP hardly reacted to the news of the Gary Gensler-led Commission appeal. The reaction was mild relative to the historical occurrences.
The XRP portrays relatively stable prices on Thursday and Friday. Such occurred despite the discussion emerging as a centerpiece within the community. Notwithstanding, the XRP shows no notable price change. The prevailing stability contrasts with the sharp historical decline that characterizes the previous SEC’s actions.
Does SEC Action Influence Performance?
A review of XRP’s historical performance shows it rallied on October 2, peaking at $0.6058, only to plunge the following day to $0.5101. The sharp decline arose from the public disclosure of the agency, which was appealing.
The XRP price would rebound on October 4 despite the filing submitted within the Second Circuit court. In comparison, the 2020 crash shows an immense burden on the XRP price following the lawsuit. It tumbled 61% from $0.5678 on December 20 to trade at $0.2214 on December 23.
The decline would accelerate as crypto exchanges announced the decision to delist XRP. By the end of the year, the XRP fell 70% to trade at $0.1748.
Considering that XRP registered minimal loss on October 18, the Rector observes the end of price suppression. The analyst observes that XRP will participate in the season’s bull market, particularly with the now clearer legal status.
Rector observes that the Gensler-chaired agency is not appealing the court ruling that shielded XRP programmatic sales from security classification. Considering that such an issue is settled, he rules out excuses that could hinder XRP from shining.