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Quick setting:
- MagicPoopCannon explored XRP’s idea of reaching $ 440
- $ 440 for XRP would put its market cap close to $ 20 trillion
- His analysis and $ 440 goal are based on a worldwide case of hyperinflation and central banks are continually printing fiat
- $ 440 is a bit extreme with the TradingView community pointing out that it’s unrealistic
XRP’s digital asset continued its impressive parabolic run by hitting a two-year high of $ 0.78 – Binance rate. This means that XRP’s remittance coin increased in value by 225% in November alone. At the time of writing, XRP has fallen in the $ 0.71 price area as investors expect more upside from the digital asset.
$ 440 for XRP due to uncontrolled inflation and money printing
According to Bitcoin and Crypto analyst MagicPoopCannon, XRP could go as high as $ 440. His analysis is based on a worst-case scenario of global hyperinflation and continued coin printing by central banks.
Here is the technical case of how XRP could go up to $ 440 … I know there will be people commenting on how that would make XRP worth trillions (around $ 20 trillion according to my calculations) and that such a feat is impossible for a cryptocurrency. like XRP.
I just want to end this discussion by reminding everyone that the global money supply is ever expanding. An XRP market cap of $ 20 trillion would be hard to imagine with the current global money supply, but the global money supply already appears to be entering a period of accelerated expansion.
Continuous and runaway printing inflation could easily make this a possibility, and with the looming global debt crisis in the background, nothing is beyond the realm of reason.
How XRP will reach $ 440
Magic also points out that XRP’s bear market since 2018 is very similar to that of 2015. If history repeats itself, XRP could experience a similar bull run as it did in 2017 that could push it to $ 440. Fibonacci retracements as explained below with an accompanying chart of his analysis.
Now, if we look back at the initial 2017 breakout, we can see the first resistance level it was at the 2,618 retrace. Currently, the 2,618 retracement is above $ 9! So if XRP behaves in a similar way, we would need to see a massive rally to $ 9 in the near future.
From there, we saw XRP rise to the 16 retracement, and then 128, which is interesting to me because 128 is a multiple of 16. Anyway, if XRP behaves similarly, it will rise to the $ 55 level (the 16 retracement). ) and then eventually to the $ 440 level (the 128 retracement).
The TradingView community reacts to its $ 440 prediction from XRP
The TradingView community was quick to throw cold water on Magic’s XRP $ 440 price prediction, with many pointing out that it was too far-fetched. Below is an example of some of the responses to his analysis on the charting platform.
why am I still subscribed to this idiot? $ 1.50 here we come tho lol. – CryptoeChris
He is always 100% wrong. He was completely wrong about bitcoin with his nvt and linear bullshit. He demanded that btc collapse and also said it was useless. He got completely wrong on the stock market in April when he said he was 100% sure the top was, yes ok! He was absurdly mistaken in his call to Trump to win a second term. wrong wrong WRONG. Lol! – StreetGainer
whatever you are smoking, I want some – It’s a lie
fuck yes to the fucking moon. Send this whore to space, through the stratosphere and then to Jupiter – bossmodetrader
