An epic and truly stunning price prediction appeared in the crypto space today, when an analyst undet the nickname "Amonyx" posted his outlook on XRP. According to him, the price of the popular cryptocurrency, currently the seventh largest, may be poised for an increase of over 11,745%.
You may ask "What?" and that would be absolutely justified. Amonyx's bullish view is based on the logarithmic price chart of XRP. On the chart, the analyst draws the boundaries of the price range in which XRP has been trading since 2014.
According to the analysis, the price of XRP is currently hovering around the lower boundary. Specifically, the token has been trading here since the end of 2021, and 11,745% is exactly how much XRP needs to reach the upper boundary of this price range.
Massive Green God Candles Loading. #XRP pic.twitter.com/v3KCd3Qupz
— Amonyx (@amonbuy) August 14, 2024
The prediction, accompanied by the caption "Massive Green God Candles Loading," garnered a lot of attention, including from XRP enthusiasts. The community reaction was largely sarcastic, and not many people shared Amonyx's optimism.
For real?
Well, there is a place for skepticism, because if XRP gains 11,745%, the popular cryptocurrency's market cap will be $3.82 trillion - bigger than Apple by almost half a billion dollars - and Apple is currently the largest company in the world.
Of course, if XRP ever reaches nearly $4 trillion in USD terms, either something's seriously wrong with the economy or XRP will become the world's money. But how likely these scenarios are depends on your own imagination.
