With the markets running up value, Bitcoin surging, Ethereum flying, Bitcoin Cash soaring and EOS climbing, we want to assess what could happen to XRP, if it manages to latch on to the sudden market surge too.
As it stands, XRP is only up 2.14%. Whilst this might seem positive, when we compare XRP’s rise to the rise of Bitcoin and Bitcoin Cash, up 6.36% and 6.12% respectively, we can see that actually, XRP is underperforming at the moment.
We are certain that this is down to the ongoing speculation surrounding XRP’s status as a security and moreover, news from Coinbase who are still refusing the acknowledge XRP. Overall, whilst the climate looks great for the majority of cryptocurrencies, XRP isn’t in the clear just yet.
Even so, we want to see exactly what will happen if XRP latches onto this surge, or indeed the bull run which is expected to take over as we cross into August. Before we continue, please note that this is not investment advice and that this is based on speculation, derived from historic values and occurrences. We can’t guarantee that the markets will surge and moreover, if they do, we can’t predict how XRP will react either. Such is the fun of crypto.
The major historic XRP surge happened during the 2017-2018 cryptocurrency boom between December and January. During this time, XRP moved from a price of $0.244, up to $3.67 in a matter of weeks. This saw an overall climb og 1,404%. A huge climb by all accounts.
A surge of a similar scale today, based on the current value of XRP at $0.462, would see XRP reach a value of $7.00. Or thereabouts at least.
Okay, this is a very optimistic outlook. Realistically, XRP isn’t going to hit $7.00 over the next few weeks, however the fact that it could, is something that should keep investors happy. Indeed, if we see a surge as big as that back in December, then perhaps XRP will hit $7.00, for now though, we should focus on $1.00. After that, maybe $3.00. From there, we could see XRP hit $5.00 and beyond, though as it stands, we believe we are a long way off that just yet.