Crypto Analyst Blasts $20,000 XRP Price Target, Reveals Why It’s Impossible
January 03 2024 - 1:00PM
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XRP YouTuber Moon Lambo has hit out at those who believe that the
XRP price could be worth $20,000 in the future. The analyst
believes that this price level is unattainable for the crypto token
as he highlighted reasons why he holds this belief. Why The
XRP Price Cannot Rise To $20,000 In a video on his YouTube Channel,
Moon Lambo explained that XRP’s market cap will need to run into
quadrillions of dollars if it were to achieve that price level
based on its current market cap. However, from his calculation,
there is not enough money in the world for such an occurrence, as
at least $100 trillion will need to flow into the XRP ecosystem for
that to happen. Related Reading: Solana Meme Coins: A Guide to
Buying, Trading, And Profiting From SOL Investments According to
the YouTuber, there is a “0% chance” that this will happen. He
dismissed any argument that some assets could be sold off to fund
this amount of inflows into the XRP ecosystem. This is unlikely to
happen as those assets will need to go to zero to get the amount of
liquidity needed to get the XRP price to $20,000, Moon Lambo
argued. XRP being worth that amount would also mean the
crypto token having a market cap worth over ten times more than the
value of the US stock market. Moon Lambo says that it is “utter
nonsense” to think that this will happen. He believes there is no
way that XRP can be more valuable than all the foremost companies
in the US put together. He also alluded to arguments that XRP
can attain this price by becoming the currency for the global
reserve. He says that swapping out the dollar, which currently
accounts for a huge chunk of the global reserve, won’t still see
the crypto token get the required liquidity to hit $20,000. XRP
price at $0.63 | Source: XRPUSD on Tradingview.com Enough Reason To
Still Be Excited As An XRP Holder Despite his stance, Moon Lambo is
still bullish on the XRP price. He stated that the crypto token
doesn’t need this “crazy hype nonsense” for one to be excited as an
XRP holder. The crypto analyst believes that as far as XRP is
widely adopted, there is enough money that can flow into it, which
could cause its price to hit three digits. Related Reading:
Top 5 Events That Shook Up The Crypto Industry In 2023 Unlike a
price prediction of $20,000, XRP’s price hitting three digits is
still within the “realm of possibilities.” However, Moon Lambo
doesn’t see that instantaneously happening as he says that it could
take “many market cycles.” The good news is that anyone who has
been in on XRP for some time is already well-positioned for such a
multiplier effect. Meanwhile, analysts who have in the past
made such “impossible” price predictions of $20,000 were not spared
in the crypto analyst’s rant. Moon Lambo mentioned that such people
only make baseless claims and do not provide justification for such
assertions. He provided insight into why these analysts make
such predictions as he suggested that they were doing this to get
more audience. He remarked that he would probably get more
subscribers if he jumped on this “bandwagon.” However, he has no
intention to do that as he says it will be “intellectually
dishonest” to do that. Featured image from Tekedia, chart from
Tradingview.com
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