XRP Below $3 Is a “Failure”? Not for Long, Says Widely Followed Commentator BarriC

Widely followed XRP commentator BarriC is again urging the crypto community to buy as much XRP as they can while the price remains low.

Widely followed XRP commentator BarriC is again urging the crypto community to buy as much XRP as they can while the price remains low.

He emphasized that XRP is still undervalued below $3, but in the coming years, it could stabilize at a staggering $1,000 per coin.

XRP Below $3 Is a “Failure”? Not for Long, Says BarriC

In a recent tweet, BarriC presented a case for long-term accumulation. He argued that despite XRP trading at $2.35, many still consider its performance underwhelming.

Many are saying that XRP "failed" to perform well despite it being undervalued below $3.

For context, XRP is up 356% year-over-year at this price.

To put that in perspective, BNB is up 180%, Ethereum is up 280%, and Solana is up 140% year-over-year.

— BarriC (@BarriCC) August 15, 2023

For context, at this price, XRP is up 356% year-over-year, a gain that outpaces those of BNB, Ethereum, and Solana. However, concerns about XRP’s performance have intensified recently, as its progress has stalled since January.

Meanwhile, BarriC suggests that sentiment may shift dramatically if XRP follows the trajectory he anticipates in the coming months. He predicts that XRP will climb to $10 and then $20 per coin in the near term. He expects this range to mark XRP’s new all-time high during the anticipated alt season rally.

This aligns with his earlier predictions, which he shared in December 2022. At the time, he anticipated a surge in the alt season, pushing XRP to $5 to $10, followed by a 50% retracement to $2 to $3.

BarriC also cautions that the market could follow historical patterns, with a 50% correction after reaching $20. In this scenario, the $5 to $10 range would become the new entry point during the bear cycle, which would still be significantly higher than today’s price.

This leans toward his view that anything under $3 is a steal for XRP when considering its future potential.

Utility-Driven Growth Could Take XRP to $1,000

Looking beyond the current cycle, BarriC sees a future in which XRP becomes the backbone of global finance. He projects a scenario where banks and financial institutions worldwide adopt XRP for daily transactions and cross-border settlements.

In this case, he believes demand for the token would surge, driving its price to $1,000 per coin. At that level, BarriC contends XRP would no longer experience the wild volatility of past years. Instead, it would function as a stable financial infrastructure asset, with trillions of dollars flowing through its network regularly.

This commentary taps into a growing narrative among XRP supporters that the token’s utility, not mere speculation, will ultimately drive its value. Ripple’s ongoing collaborations with central banks, real-time payment systems, and liquidity providers add weight to this long-term vision.

Notably, BarriC expects this $1,000 price point to materialize within the next decade. Other market commentators share a similar perspective, suggesting it could happen by 2035 or later.

However, critics often highlight weaknesses in this lofty price prediction. For instance, reaching a triple-digit valuation from its current level would require XRP’s price to rise by 42,450%.

Achieving a $1,000 price would also necessitate a market cap of over $58.5 trillion, an outlook many consider unrealistic. Despite skepticism surrounding such ambitious targets, some XRP proponents continue to advocate for them.