According to crypto analyst ChartNerd, these price targets being thrown around for XRP are FAR more dangerous and unrealistic than the sub-$1 calls, which are at least grounded in historical data. The point is not that the token cannot rise, but that some of the figures now attached to the cryptocurrency are far above what the chart and its circulating supply are saying.
Bears Might Be Closer To The TruthAccording to the analyst, the bearish case for XRP returning below $1 is at least rooted in historical data. The specific framework in this case is the Gaussian channel, which the price has always returned to its lower regression band in every bear market. Therefore, there’s still a chance of the altcoin coming down further to it again. On the basis of this recurring structure, the current cycle’s bottom could form in the $0.70 to $0.91 range.
