Analyst names altcoin with upside potential of 2,400%

A trader explained when the value of Ripple’s token could rise to $20-30

A trader explained when the value of Ripple's token could rise to 20-30$

Analyst and author of the Credible Crypto YouTube channel (30,600 subscribers) predicted that Ripple’s token, XRP, could rise 2400% from current levels. The digital coin is trading at $1.1 on August 25.

The analyst says that the price of the token could rise as much as $20 to $30. This will occur if XRP’s value soon updates to a historical high of $3.4, as the token will then enter a price discovery phase, the analyst noted. Credible Crypto explained that XRP already showed such growth in 2017. Back then, the token rose 1260% in one month to reach $3.4.

“My goals for XRP, as I’ve said many times before, are at $20 to $30 at the end of this bull cycle”, the analyst added.

Over the past month, the price of XRP has risen 116% and its capitalization has increased to $54.5 billion, according to CoinGecko. If Credible Crypto’s forecast comes true, the altcoin could be worth as much as $1.4 trillion, which, by comparison, is higher than Facebook’s market valuation and twice the capitalization of Tesla. Now the largest cryptocurrency by capitalization, bitcoin, is valued at $910 billion.

Ripple is currently undergoing litigation in the U.S. At the end of 2020, the Securities and Exchange Commission (SEC) accused the company of selling $1.3 billion in unregistered securities under the guise of XRP tokens.

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