Will XRP Price Hit $2 Anytime Soon? Decoding The Possibilities

The XRP market has significantly matured over the years thanks to the ongoing SEC vs Ripple lawsuit in the United States. Notably, Ripple through CEO Brad Garlinghouse clarified that about $200 million has been spent fighting the SEC in the past two years. Meanwhile, Ripple’s products including On-Demand Liquidity and RippleNet have significantly been adopted outside the United States, thus exposing XRP to more demand. Additionally, Ripple Labs also noted that nearly $1 billion has been set aside for strategic acquisitions.

Deaton’s XRP Prediction

According to a popular crypto activist lawyer John E Deaton, the XRP market is yet to experience parabolic rallies fueled by FOMO traders. As a result, Deaton issued a prediction through Twitter that FOMO traders will not hit XRP until the digital asset hits $2.

“XRP sits at .48 cents and it’s crazy to think about how many people, who refuse to buy it now, are going to buy it over $1. What’s even more crazy is that fomo won’t likely kick in until $2,” Deaton noted. 

Notably, XRP price did not hit $2 during the 2021 crypto bull market. As a result, Deaton expects FOMO traders to heavily speculate on XRP after it surpasses this major resistance level. In this regard, the XRP price will be left with the ATH, around $3.4, to break to enter the price discovery phase.

Reality Check

The XRP market is heavily weighed down by the huge Ripple holdings ambition to nearly half of the total supply. In this case, if XRP is to ever reach a market capitalization of Ethereum at about $228 billion, then it will trade around $4.4. From another perspective, XRP will trade at around $10.41 if it ever reaches a valuation similar to Bitcoin’s, $540 billion.