Noted cryptographist and market analyst Chad Steingraber paints an optimistic picture for the future of the burgeoning field of cryptocurrency trading. In a recent statement, he predicts the XRP crypto token is poised for substantial growth, ultimately surging to an impressive three-figure value.
Having made his predictions via the social media platform known as X, whose former name was Twitter, Steingraber speaks of the crypto token XRP reaching the $250 benchmark as early as 2025. He sees this as a pinnacle in the market trend for the said token during the current bull run cycle.
In the same token, he also voiced his projections for the giants in the realm of cryptocurrency, Bitcoin and Ethereum. Steingraber predicts for these two established entities to maximize their market potential at a whopping $250,000 and $25,000 respectively, by the turn of 2025.
Expounding the cause behind his optimism for XRP, he points towards a potential ETF (Exchange Traded Fund) focused on XRP as a key driver of demand. This ETF, he explains, would provide the XRP a heightened functional utility as fund issuers of XRP ETF would redirect their assets into an institutional liquidity hub.
This move, Steingraber believes, would inject further demand for the XRP token. This subsequent surge in demand could propel its value, particularly when the supply of XRP takes a hit. Additionally, Steingraber points the finger at the ongoing lawsuit by the Securities and Exchange Commission (SEC) against Ripple as one of the reasons anchoring XRP’s price to the ground at present.
On an optimistic note, Steingraber asserts that an influx of fresh investment into XRP will inevitably occur once the clouds of the SEC’s legal actions against Ripple clear. As it turns out, Steingraber is not alone in this belief. Fellow cryptographist JackTheRippler shares a similar sentiment and even prognosticated the XRP value surpassing the $100 value upon the conclusion of the pending lawsuit.
In an alternate perspective, Crypto analyst Egrag Crypto sketches out a more conservative path to the proposed $250 height that Steingraber dreams for XRP. Egrag Crypto suggests monitoring how XRP reacts to a smaller price target of $7.5 before mounting assumptions about its trajectory beyond.
His projections for XRP are derived from a notable conviction. He believes that the XRP token is primed to maneuver out of its current rut and subsequently record the growth of up to $1.5. Once it breaks this threshold, he envisions it making a sizeable leap to the modest $7.5 mark, which would be an ideal litmus test for its potential to surge beyond.
However, Egrag also offers a word of caution. He warns that the $7.5 mark is a “critical” juncture in the upward price trend of XRP. Given that an array of profit-taking activity could create a significant drop in the XRP value. Despite the caution, he also reveals that the next targets for XRP will be the “mid-double digits near Fib 2.414 & 2.618” granted it manages to maintain a weekly close above Fib 1.618.
In conclusion, Steingraber’s bullish prediction sets a prospective path for this recognized crypto token in the coming years, promising to shake the seemingly dormant crypto market. Whether these predictions turn out to be accurate or overly optimistic only time will tell.
