XRP is one of the cryptocurrencies that has persevered in the market and managed to retain a strong following despite performing poorly in the last few years. The legal battle between Ripple and the United States Securities and Exchange Commission (SEC), which is the major culprit behind this poor performance, has yet to end. However, this has not deterred the bullish sentiment among investors, who still believe that the altcoin’s price is destined for double digits.
Market Expert Says Selling XRP At $10 Is A Bad Idea
Although the XRP price is still trending at around $0.5 right now, the expectations that the altcoin will see a monumental surge are still high. One of those who believes that this will happen is James Jay, an XRP community member and the host of the Crypto4Life YouTube channel.
In a recent video, Jay revealed his expectations for the XRP price, saying that he expected it to eventually cross $10. However, the prediction was not the most interesting thing that came out of the video but rather the advice the host gave to investors.
Jay explains that he understands that the XRP price going to $10 from here would be life-changing for a lot of people. But he still encourages them not to sell at that price. According to the analyst, XRP investors will end up regretting selling their tokens at that price because he expects it to go much higher.
The analyst points to a Valhill Capital estimate for the future value of XRP tokens, which came in an extremely wide range of $9.81 and $513,000. However, Jay is undeterred by this wide margin and explains that even if the estimates end up being only 1% right, it would still put the price in the ballpark of even $100.
To put this in perspective, a $100 price target from here is a 20,000% increase or a 200x increase. This would mean that the XRP market cap would be in the trillions, a feat which has only be achieved by Bitcoin, the pioneer cryptocurrency, so far.
Nevertheless, Jay encourages investors to look beyond the quick gains and have “a solid plan” so they can make the most returns on their investments. “You should have strategic levels of where you’re cashing out and I wouldn’t go all out at a certain dollar,” the YouTuber stated.
Jay is not the only one that sees the XRP price crossing $10 and even rising to triple-digits. Crypto analyst and community member JackTheRippler has said that he expects the altcoin’s price to cross $100 once the Ripple vs. SEC case is over. Another analyst BarriC also revealed that they expect the altcoin to reach $100 in less than 10 years.
Chart from Tradingview.com
