The crypto community has been eagerly anticipating the potential price growth of XRP since it was certified as a non-security. Many predicted that XRP could rally to anywhere from $100 to $500, and maybe even higher.
A renowned banking expert, Shannon Thorp, who previously predicted this surge, has come back with more to say.
Expert’s Massive Prediction of $100 to $500 Surge For XRP and Skeptical Challenge
Thorp, a former Operational Specialist at Citi, has maintained that she believes XRP’s price could increase by a staggering 71,328%, expecting this surge to happen within two to seven months.
Thorp made this prediction six months ago after the court ruling on XRP’s security status.
In her argument, Thorp mentioned that she believes XRP’s price could rise between $100 and $500 within seven months, hence by February 2024. However, the expected growth is yet to materialize.
In January 2024, XRP still trades within the $0.5200 and $0.5300 thresholds, and it seems highly improbable that it will reach the anticipated surge. In response to Thorp’s prediction, a notable technical analyst, “JD,” expressed skepticism about the $500 projection in a recent X post.
He called out Thorp, questioning the validity of her predictions.
JD said:
“Saying charts don’t work? We are literally still within my orange box posted months ago. Charts win over nonsense.”
So what’s up w/this $100-500 in 7 months theory you posted last July 2023?
Saying charts don’t work? We’re literally still w/in my orange box posted months ago. 🤔🧐🤦♂️🤦
Charts WINS over these NONSENSE 🤦🤦♂️ $XRP #XRParmy #XRPCommunity https://t.co/v9upVaYEtm
— JD 🇵🇭 (@jaydee_757) January 28, 2024
Thorp has always maintained a strong position regarding the relevance of historical charts in XRP’s price predictions. However, such a notion does sync with analyst JD’s views and principles.
Expert Argues The Injustice Of XRP Analysis Without Utility
Defensively, Thorp launched a counter-argument over JD’s skepticism. The banking expert’s argument challenges the traditional approaches to market analysis, especially those that focus only on chart trends.
Further, Thorp argued that analyzing XRP’s value without utility charts would give inadequate results.
She views all predictions that are based on past trends as an injustice to the community members.
Thorp stated:
“Current charts for XRP utility do not exist. The premise of your argument is based solely on what ‘was’ the speculative nature of XRP founded on market sentiment and buy/sell pressure. Do you know how nonsensical it is for you to dismiss utility in your quantifiable approach?”
Current charts for XRP UTILITY do not exist! In fact, what you are doing is a true injustice to the #XRPCommunity. …