Insane, inane, inaccurate, and downright idiotic, XRP price predictions continue to spin wildly out of control. A recent attempt at predictive “modesty” was put out by news BTC, which speculates on the possibility of a bull run leading to a price of $14 per XRP. And while I think this is unlikely for the current year, I am keeping my fingers crossed.
My spacesuit is ready. My moon Lambo is still waiting. I’ve built my rocket ship, and it’s powered by the combustion of paper from printouts of failed XRP price predictions. Like this U.Today article from back in 2019, indicating a future price of $300 per XRP. The author uses a tweet by @crypto_rand as a source.
Apparently, she didn’t see the follow up tweet by Crypto Rand:
Not to be outdone by level headed crypto-analysts like John McAfee, The Currency Analytics published an article arguing that XRP could hit $692 this year. And when the author is inevitably incorrect, there’ll be another prediction the next year, every bit as clickbait as the last. Maybe the price will be a thousand dollars, two thousand, or maybe even a million dollars. Anything’s possible in the world of crypto.
Jeffery Tucker, who I talked about in one of my previous XRP posts, XRP Disinformation in the News, said this about the future of XRP price breakouts: “Anything could happen. XRP could fall to zero, but it could also be worth a million dollars.” In all honesty, zero is more likely than a million dollars per XRP. The prediction is of so wide a range as to be useless. Tucker is being hyperbolic, but this didn’t stop crypto publications like U.Today from featuring Tucker’s quote as a headline to attract clicks. Though, unlike Crypto Rand’s tweet, it doesn’t appear that anyone took it seriously.
These articles are indicative of the cavernous predictive price differential that most XRP enthusiasts find themselves in. There’s the expectation of the moonshot, the $15-20 price range, and then there’s the pit of despair that lies ten thousand feet deep – when the price charts dive off the chasm and into fifteen, ten-cent, and five-cent predictions. Often these predictions are given weeks, or even days apart, not by the same individuals, but by different analysts who seem to be engaged in the cryptocurrency equivalent of dowsing.
The price predictions are so varied and disparate it’s almost impossible for your average investor to determine which way the price is heading, but it’s what people want to hear. They want the speculative moonshot article, almost as much as they desire the melancholy bear market articles when the price dips. The point doesn’t seem to be price accuracy (though there are individuals that write very informative price movement articles). The articles are more a reflection of the mood of the investors. As seen above, the predictions are so wildly unrealistic that I have the feeling the authors are more fiction writers than market specialists. And this is precisely the reason that we shouldn’t pay attention to them. Clicking on an article with a headline indicating that XRP is going to reach an unrealistic price of $692 is casting a vote in favor of more substanceless price fiction articles.