Crypto pundit BarriC has said that an XRP price rally to $10,000 isn’t possible at the moment. He also revealed what needs to happen for the altcoin to potentially reach this level and even rally to $50,000.
Pundit Says XRP Price Cannot Rally To $10,000 Now
In an X post, BarriC stated that the XRP price cannot reach $10,000 to $50,000 if the altcoin remains purely a retail asset, which investors can buy and trade on exchanges. Instead, he explained that the only way this can happen is if XRP becomes part of the global financial infrastructure.
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The pundit further remarked that this could happen if XRP becomes integral to how every bank and financial institution worldwide conducts finance. Once this happens, the pundit predicts that the XRP price will no longer be low and will no longer experience a bear market as it is currently experiencing.
BarriC assured that the XRP price will stabilize at a higher level, between $10,000 and $50,000, once trillions of dollars flow directly into and through XRP on a daily, weekly, monthly, and yearly basis. He declared that this will be the price people must pay for XRP, and that those who diligently accumulated and held will be rewarded for their patience and perseverance.
Interestingly, the pundit stated that the XRP price could reach $10,000 this year. This came as he declared that XRP will move from $2 to $10, $10 to $100, $100 to $1,000, $1,000 to $10,000, and that all these price shifts for the altcoin could happen this year. BarriC also mentioned that the shift could happen faster than many expect, with many market participants potentially missing out on life-changing wealth.
XRP Still At Risk Of A Major Decline For Now
Crypto analyst Egrag Crypto has indicated that the XRP price is still at risk of a major decline at the moment. He noted that the Fib 0.618 at $1.51 is acting as the first major resistance and that so far, the altcoin has failed to provide confirmed closes above this level. Meanwhile, the analyst also mentioned that the next key resistance becomes the Fib 0.702 at $1.83.
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He explained that these two levels are extremely important because they determine whether the XRP price is transitioning into a bullish Wave 5 expansion or remains trapped within a larger corrective structure. Egrag Crypto said that if XRP cannot reclaim these levels, then the technical Elliot Wave measured move still favors a decline to the Fib 0.382 at $0.89 or even the Fib 0.236 at $0.64.
At the time of writing, the XRP price is trading at around $1.39, down nearly 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Adobe Stock, chart from Tradingview.com