Cryptocurrency asset manager Bitwise has provided a long-term price forecast for XRP, outlining both bullish and bearish scenarios for the token.
Bitwise's Price Scenarios
Bitwise's projections are based on the capital asset pricing model and consider different market conditions. In the most optimistic outlook, XRP could reach $29.32 by 2030 due to widespread adoption in the payments and tokenization sectors. In the 'bull scenario,' the price would still rise to $12.70 if XRP maintains steady growth without dominating its niche. Conversely, in the 'bear scenario,' the price could fall to $0.13 if the token fails to secure key positions.
Market Conditions and Legal Developments
XRP's future growth is closely tied to regulatory developments and institutional interest. Ripple's recent withdrawal of its cross-appeal against the SEC concluded a prolonged legal battle. Despite the resolution, a significant price rally for XRP has not occurred. Regulatory approvals, like a potential XRP ETF in the U.S., could shift market sentiment positively.
Competition in the XRP ETF Space
Growing interest in cryptocurrency ETFs has led to speculation that major financial firms may enter the XRP ETF market. ETF analyst Nate Geraci predicts that BlackRock and Fidelity could soon file for XRP ETFs. Their participation could further legitimize XRP as an institutional asset and drive demand.
Bitwise's projections highlight the range of potential outcomes for XRP, from significant long-term gains to a steep decline. Institutional support and regulatory clarity will be crucial in determining the token's future.
