Markets
Analyst Describes Market Reactions to Key Price Milestones
BarriC, a pro-XRP crypto commentator, recently discussed potential market reactions to XRP at different price stages during its anticipated journey to $1,000.
As one of the most ambitious voices in the XRP community, BarriC has always maintained that the asset will eventually reach four-digit values. Despite criticism from skeptics, he believes that, with hindsight, even a $500 XRP will be considered a bargain.
In his latest commentary on
Reactions for XRP at $1, $3 and $5
BarriC noted that the current sentiment towards XRP at its sub-$0.5 value is one of frustration, with some calling it a dead coin. This frustration is fueled by the fact that XRP tops the rankings of crypto assets underperforming in this bull market.
For example, while Bitcoin, Ethereum, BNB, and Solana saw gains of around 50% in the first quarter, XRP saw a loss of 5%, according to Ripple’s latest quarterly report. report. Additionally, in the last quarter of 2023, as the bull market frenzy began, XRP only saw a 7% gain, which it subsequently lost.
Despite this, BarriC and other bullish XRP enthusiasts believe this underperformance is temporary. In particular, he predicts that when XRP finally reclaims the $1 price it lost three years ago, the community reaction will likely remain dismissive.
However, according to the expert, reactions could change slightly once it hits $3. BarriC believes dismissive voices will start claiming that $3 is a “pathetic ATH” rather than recognizing the feat. Notably, XRP last reached its ATH of $3.84 in January 2018, six years ago.
By the time XRP hits $5, BarriC expects skeptics to become more curious, wondering why XRP continues to rise.
$XRP at $0.51 = frustration, it’s a joke, it’s dead$XRP at $1 = 😂 it’s only $1?! Let me buy more meme coins$XRP at $3 = pathetic ATH $XRP at $5 = confusion of the masses. Why is it starting to move?$XRP at $10 = FOMO starts to kick in, people will always be in denial…
– Barric (@B_arri_C) June 13, 2024
Reactions to XRP at $10, $100, and $1,000
BarriC believes that the fear of missing out (FOMO) won’t really take hold until XRP hits $10, although critics expect a pullback to $3.
At the $100 price level, he claims people will begin to recognize XRP’s usefulness in payments and tokenization of real-world assets (RWA), leading to increased interest in investments.
Finally, if XRP hits $1,000, BarriC assumes that most of the crypto community will view XRP as a core asset, with people saving up all month to buy XRP at that price.
Opposite view
While some share this view, others consider it wishful thinking. In a separate discussion, user Underlines that three years ago, XRP reached $1.96 despite lacking regulatory clarity and being embroiled in a lawsuit.
Today, three and a half years later, XRP is at $0.48, even with the clarity of the US court. put back on sale on major exchanges like Coinbase and Grayscale restoring XRP in its DLC Fund.
Despite these positive developments, price performance has been disappointing. As a result, many have lost confidence in XRP, although some retain a sense of optimism.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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