- XRP must reclaim $2.90 to confirm bullish continuation after recent rejection.
- Analyst predicts XRP’s remittance utility could drive its value to $100-$1,000.
- Despite short-term bearish action, the market cap remains strong at $138.9B.
XRP bulls are attempting to hold their ground at a crucial support range between $2.30 and $2.40 following a sharp rejection from the $2.90-$3.00 supply zone. According to an analysis by BullishBanter, a reclaim of the $2.90 level would signal a continuation of the bullish trend. Meanwhile, market experts remain divided on XRP’s long-term potential, with some predicting exponential growth based on utility and historical market patterns.
XRP’s Long-Term Growth Potential
Matthew Brienen, Chief Operating Officer at CryptoCharged, has presented an optimistic long-term outlook for XRP. He believes the asset’s real-world utility in remittance services could drive its value significantly higher.
Brienen, who has been accumulating XRP for over five years, revealed that the cryptocurrency makes up 50% of his portfolio. He anticipates substantial returns, with plans to sell a portion of his holdings while keeping some for the next five to ten years.
Brienen argues that XRP’s ability to facilitate rapid, low-cost cross-border transactions gives it a strong competitive edge. He suggests that based on technical projections, XRP could reach valuations between $100 and $1,000 within the next decade. However, he acknowledges that market cycles will influence the timeline of such growth.
Comparing XRP’s Market Trajectory to Bitcoin and Ethereum
Brienen’s confidence in XRP’s long-term value stems from historical market patterns. Bitcoin, the only cryptocurrency to achieve a multi-trillion-dollar market cap, and Ethereum, which reached a half-trillion-dollar valuation in the previous cycle, set strong precedents. He speculates that XRP could follow a similar trajectory if adoption and market sentiment align with its growing utility.
However, XRP’s current price performance reflects a short-term bearish trend. As of press time, XRP is trading at $2.40, marking a 3.28% decline over the past 24 hours and a 4.17% drop over the last week. With a circulating supply of 58 billion tokens, XRP holds a market capitalization of approximately $138.9 billion.
