- An analyst at Sistine Research has predicted that XRP could surge to $73 once it breaches the resistance level at $3.
- He, however, does not think this could be a smooth ride as he anticipates multiple corrections in between due to profit taking.
A reputable research firm, Sistine Research, has made a bold prediction for XRP, claiming the asset could hit $73 in the long term. According to the disclosure made by Sistine’s analyst Forrest, XRP is currently showing a 7-year flag and breakout development on its price chart. Above all, he believes the asset has not been doing badly as it currently exists as the top-performing coin since the US presidential election.
I still think, uh, XRP is loading up more in a situation like we were down here. Um, even if it’s also since the election, it’s the number one performing asset. Number one performing asset since the election, and the chart looks like this. Uh, I think XRP is a no-brainer to own.
Over the years, similar price predictions have been grossly discouraged based on its vast circulating supply of 58.8 billion. However, this has not discouraged commentators like BarriC from fixing its long-term growth at $1000, as noted in our earlier post. Similarly, the analyst at Sistine believes that a market cap of $4.29 trillion is not too large for XRP’s potential and its predicted price point.
Sistine Research Explains the Journey of XRP to $73
Shedding more light on this, Forrest pointed out that the main bullish run would start at $3 when investors start realising that they have missed their shot. From this level, Forrest believes that XRP could easily hit $7 and $10, which aligns with a recent prediction highlighted by CNF.
According to Forrest, XRP could experience a slight pullback but would stage a rebound to breach the $17 level, the $37 level, and subsequently the $73 level.
I have got a ton of targets, like $6. I will say like $7 to $10 regions. I think this thing will initially slow down. You will see a lot of people trying to sell between, like, $7 and $10, and then I have got a lot of targets between, like, $17 and $37. If XRP gets to $73, I will be fully out.
Commenting on this, CNF analysts highlighted that a realisation of this prediction could make XRP the most successful crypto project. As indicated in our recent discussion, analysts like Edoardo Farina have all agreed to this possibility. However, this level of growth is reported to depend on two main factors – institutional adoption and increasing token scarcity.
For now, eight main companies have publicly declared their interest in establishing an XRP Treasury, with Trident Digital Tech Holdings committing up to $500 million to this.
As outlined in our recent blog post, Chinese AI firm Webus has also announced a $300 million investment in XRP. More companies are expected to come on board as $100 billion fund manager WisdomTree describes it as the best altcoin for long-term portfolio strategy, as reviewed in our recent publication.
At the time of writing, XRP was trading at $2.1 after surging by 2% in the last 24 hours.
