Analyst Matthew Perry recently shared his thoughts on whether Ripple (XRP) could hit $10 by the end of this year. Despite a slowing crypto market, he believes XRP still has a chance to rise.
How XRP Can Reach $10?
According to Perry, to reach a price of $10, Ripple would need to increase its market cap to about $600 billion. While this figure seems high, he considers it possible given positive developments in the crypto market.
Factors Affecting XRP Price
Several factors can influence XRP's price, including the SEC lawsuit against Ripple, actual use of XRP for payments, competition from other blockchains, and the volatility of the overall crypto market. Perry also noted that boosting factors such as the introduction of crypto ETFs and clear regulatory guidelines could contribute to price growth.
Perry's Final Thoughts on XRP's Future
Despite the risks, Matthew Perry still believes XRP can hit $10 before the year ends. He clarified that his opinion is based on research and careful market observation. He plans to take profits at various levels, whether it hits $5, $7.50, or $10. Perry added that XRP does not need to be bigger than Bitcoin to reach this price.
In conclusion, while predictions about XRP reaching the $10 mark carry certain risks, optimistic sentiments and potential growth factors could support this scenario.
