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XRP faces challenges in reaching its ambitious price targets🌟
XRP is currently struggling to surpass the critical resistance level at $2.30. While some members of the Ripple community claim that the token is capable of reaching a target of $100, the current supply amount, market capitalization, and technical analysis data raise serious doubts about the feasibility of this target.
The high offering and market value of XRP.
The total supply of 58 billion XRP is a key factor preventing the price from reaching astronomical levels. If the price of the coin reaches $100, the total market capitalization of XRP would rise to about $5.8 trillion. This figure indicates an economy nearly three times larger than the current market capitalization of Bitcoin, which is $1.8 trillion.
Experts confirm that this assessment is far from the reality of the market. They point out that to achieve this massive growth, not only Ripple but the entire financial system needs a radical restructuring. Even steps like the merger of Ripple with SWIFT are considered insufficient to reach this price level.
Technical analysis of altcoins and key support levels
The daily charts show that XRP is facing strong resistance at the $2.55 level. This area has become an important reference point for investors, as it has historically seen high trading volumes. The relative strength index (RSI) is still above 50, indicating that the price remains in an upward trend.
However, if the overall selling pressure in the market increases, the Relative Strength Index may drop below 50, which could lead to a potential price reversal. In this case, XRP is likely to retest the support level at $1.79.
Short-term data indicates that XRP has the potential to move towards levels of $2.94 or $3. However, for this increase to be sustainable, trading volumes must increase and overall positive market sentiment must be maintained.
Regarding long-term goals, experts adopt a more cautious stance. To reach 100 USD, the price of XRP would need to increase nearly 45 times, a significant rise that must be supported not only by technical data but also by global macroeconomic factors.