Market commentator BarriC shares a bullish forecast for XRP, stating that market participants will soon see $2 as a new “favorable entry point” for the cryptocurrency.
BarriC expressed this sentiment in a tweet, highlighting bold price predictions and various timelines for when these prospects might materialize.
$3 XRP: Coming sooner than expected
First, the analyst shared that XRP could reach the $3 mark much faster than most analysts expect. The $3 mark has been a major obstacle for XRP for some time now. Earlier this month, it attempted to break above this level but stumbled at $2.90. Since then, it has fallen back to the $1.90 mark twice.
Currently, XRP is trading at $2.18 and reaching $3 would only require a 38% increase. Therefore, commentators like BarriC believe that the goal is within reach.
$5 XRP by early 2025
Meanwhile, BarriC predicts that XRP will hit $5 in early 2025. This forecast suggests a continued upward trend in the price of digital assets, which will attract more attention from retail and institutional investors, as seen in November.
Specifically, reaching $5 would require a 130% increase from current levels.
Interestingly, BarriC noted that while market participants might expect a retracement if XRP hits $5, he expects the asset to rise to $10 without a correction. A similar scenario occurred last month when XRP crossed the $1 mark for the first time in three years.
While many expected a drop below $1, XRP reached $2 without any major correction. As FOMO kicked in, it even maintained its momentum and moved closer to the $3 mark. BarriC expects a similar scenario to unfold again.
