The possibilities of how high the XRP price can go has triggered heated debate among crypto community members over the past week. One particular forecast put the price of the cryptocurrency as high as $10,000 as Ripple advances in the payments sector. However, the validity of this prediction is still heavily debated, leading crypto analysts to weigh in on whether this price point is possible.
Analyst Explains Why $10,000 Is Not Possible
One analyst who has weighed in on the XRP price to $10,000 debate is Zach Rector. Following the circulation of predictions that the altcoin could rise to this level, Rector came forward to explain why he doesn’t believe that the XRP price can climb that high.
In the that was made on X (formerly Twitter), Rector points toward a currency reset and debt restructuring as the reason behind his belief. According to him, both a Currency Reset and Debt Restructuring would have to take place before the altcoin can mount such a rally.
Why The Sudden Bullishness On XRP Price?
Indicators and investors alike first turned bullish for the XRP price following in July. The price of the coin had risen over 60% in the days following the ruling as interest ballooned.
The token’s rally has since slowed down since then, wiping the majority of its gains from the ruling. However, crypto analysts remain bullish. One analyst put the XRP price at $130, while another .
XRP’s trading volumes, which have been nearly consistent above $1 billion, also show that investors are heavily involved in the coin. This sustained bullishness is further fueled by Ripple’s exploits in the payments sector, as well as working with various countries on their Central Bank Digital Currencies (CBDCs).XRP steadies above $0.51 | Source:
