Crypto expert BarriC said so XRP price rally up to $10,000 is currently not possible. He also revealed what needs to happen for the altcoin to potentially reach this level and even rise to $50,000.
Expert says XRP price cannot rise to $10,000 now
In one X messageBarriC stated that the XRP price cannot reach $10,000 to $50,000 if the altcoin remains purely a retail asset, which investors can buy and trade on exchanges. Instead, he explained that the only way this can happen is if XRP becomes part of the global financial infrastructure.
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The expert further noted that this could happen if XRP becomes an integral part of the way every bank and financial institution manages finances worldwide. Once this happens, the expert predicts that the XRP price will no longer be low and will no longer suffer from any bear market as it is currently experiencing.
BarriC assured that the XRP price will stabilize at a higher level, between $10,000 and $50,000, once trillions of dollars flow directly into and through XRP on a daily, weekly, monthly and annual basis. He stated that this will be the price people will have to pay for XRP, and that those who have diligently collected and held on will be rewarded for their patience and perseverance.
Interestingly enough, the stated expert that the XRP price could reach $10,000 this year. This came as he stated that BarriC also said the shift could happen sooner than many expect, with many market participants potentially missing out on life-changing wealth.
XRP is still at risk of a major decline for the time being
Crypto analyst Eggag Crypto has indicated that the XRP price is currently still at risk of a major decline. He noted that the Fib 0.618 at $1.51 acts as the first major resistance and that the altcoin has so far failed to provide confirmed closes above this level. Meanwhile, the analyst also said that the following key resistance the Fib becomes 0.702 for $1.83.
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He explained that these two levels are extremely important as they determine whether the XRP price transitions into a bullish Wave 5 expansion or remains trapped within a larger corrective structure. Egrag Crypto said that if XRP cannot regain these levels, the technical Elliot Wave The measured move still favors a decline towards the Fib 0.382 at $0.89 or even the Fib 0.236 at $0.64.
At the time of writing, the XRP price is trading around $1.39, down almost 2% in the past 24 hours. facts from CoinMarketCap.
Featured image from Adobe Stock, chart from Tradingview.com