A crypto analyst has released a decisive projection that challenges the long timelines that often accompany major price milestones for Bitcoin. His outlook was presented in response to the ultra-bullish forecasts by Michael Saylor and Jack Mallers, who openly discusses the possibility that Bitcoin will reach between $1 million and $20 million per coin.
Instead of focusing on Bitcoin’s distant targets, the analyst turned his attention to XRP and highlighted it XRP will reach $100 long before Bitcoin reaches the seven-figure mark.
Analyst Says XRP Will Hit $100 Before Bitcoin’s Million Dollar Goal
There have been many bullish predictions in recent months that Bitcoin would break above the $1 million mark, with notable names like Michael Saylor and Cathie Wood points to million dollar goals.
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However, an analyst who goes by the name 24HRSCRYPTO on the social media platform He contrasted these long-term projections with what he believes is a more achievable near-term milestone for XRP.
The numbers show that XRP is a 4.445% move away from $100, based on the current price level of around $2.2. Bitcoin, on the other hand, is 990% away from the $1 million price point.
Even with that difference, the analyst noted, “You will see XRP at $100 before Bitcoin reaches $1 million.” The statement points to the view that XRP is positioned for faster price growth in the near future, as evidenced by price dynamics in recent months. The crypto is increasingly positioned in a situation where the demand and adoption of the Ripple ecosystem could take it to new heights.
On the other hand, Bitcoin’s price action is slowing versus XRP. Remarkably, technical analysis of the XRP/BTC pair puts XRP on track to outperform Bitcoin in the coming weeks and months.
The Altcoin will reach $1,000 before Bitcoin reaches $19 million
The analyst expanded his projection even further by claiming that XRP could cost up to $1,000 before Bitcoin gets close to the $19 million figure Saylor refers to. Such a valuation for Bitcoin would imply a market capitalization of approximately $500 trillion, a scale far beyond anything seen in global financial history.
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Measured from current levels, Bitcoin would need to rise approximately 20,635% to reach the $19 million mark. XRP’s path to $1,000 amounts to an even bigger jump of approximately 45,300%, equivalent to a market cap of $60 trillion based on current circulating supply. Still, he believes it is more feasible for XRP to reach $1,000 than for Bitcoin to reach millions per coin.
Featured image from iStock, chart from Tradingview.com