Prominent figures in the XRP community believe that those who cannot imagine XRP rising to the famous triple-digit goal are not “delusional” enough.
In particular, XRP has been the best performer in the ongoing bull market. November ended with a 283% gain and December was up 23%. XRP is trading at $2.41 and has been stable within this range for the past seven days.
At this stage, some analysts are offering multiple goals for XRP as it emerges from this consolidation. A few market commentators have set the target at $6, while others like EGRAG predict that XRP will reach $27.
“You don't have enough delusions.”
However, market commentator Crypto Bitlord believes these targets are not ambitious enough and has resurfaced his XRP forecast at $589. This number has historical significance within the XRP ecosystem.
In a recent disclosure, Bitlord claimed that other analysts had conservative forecasts, suggesting $589 is the real target. He said anyone who doesn't understand XRP at this price level is not “delusional” enough, referring to the derogatory comments commonly faced by XRP investors with ambitious dreams.
Not being delusional about price targets $XRP $589
— Crypto Bitlord (@crypto_bitlord7) December 16, 2024
In particular, Bitlord's comments appear to be aimed at many in the XRP community who feel that the $589 price is unrealistic. Earlier this month, Tony Edwards, host of the Thinking Crypto podcast, proposed The $589 goal is a “fantasy,” he said.
Remarkably, such a price could push XRP's market capitalization to $33 trillion, which would be higher than the combined valuations of the top 20 US companies by market capitalization. Such a market capitalization would require an unprecedented influx of capital. Either way, Bitlord and several other community stakeholders remain optimistic.
When XRP regained $2 earlier this month, Bitlord commented on the rally: point out EGRAG predicts that the altcoin will only need a 10x increase to charge $27.
In a subsequent disclosure, Bitlord claimed that XRP was sucking liquidity from major assets such as BTC, ETH, and SOL. He argues that this event will benefit XRP, impact other major assets, and trigger XRP to dominate the crypto economy.
$XRP creating a black hole now
people are selling $BTC $SOL $ETH and $BNB to get it
We're literally sucking the power out of these megacaps and pumping them harder
🚨 We are absorbing the entire crypto economy 🚨
-Higher 🚀🚀🚀 pic.twitter.com/rDo8T9HKs3
— Crypto Bitlord (@crypto_bitlord7) December 2, 2024
Historical background behind XRP reaching $589
Notably, the origins of the $589 target can be traced back to 2019 and were born out of speculative stories and theories. Initially, commentary linked it to Ripple's institutional adoption and possible collaboration with the global financial system.
Over time, this figure gained prominence in the XRP community and even evolved into a cult symbol. Some theories then linked it to Ripple's usefulness in cross-border payments and potential regulatory clarity. since then dismissed it as too ambitious or a meme-driven fantasy.
of Prediction of $589 It is also the focus of XRP-related memes. Despite his bold nature, this person has been repeatedly cited to rally support for the “XRPArmy”. However, most market experts caution against relying on such speculative price targets.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. We encourage our readers to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
