7 March 2024
Wall Street veteran Shannon Thorp has publicly admitted that her earlier bullish price projections for the XRP price have expired. The forecast, which had previously been a source of speculation and expectation within the XRP community, has fallen short of realization, leading market observers to further reflect on XRP’s price dynamics.
XRP Price Prediction Falls Flat
On Friday, March 1, Thorp took to X (formerly Twitter) to announce that her earlier ambitious forecast of XRP had come to an end. The Wall Street veteran acknowledged that her predictions had fallen flat, describing the unfortunate outcome as a “bittersweet” situation.
Previously, in July 2023, Thorp had made a bold prediction of XRP, projecting that the price of the cryptocurrency would surge between $100 to $500 in four to seven months. The Wall Street expert had provided critical analysis and statistics to back her projections, highlighting XRP’s potential for gaining more liquidity strength and achieving widespread adoption in the financial sector.
Now in March 2024, almost seven months after Thorp’s price prediction and analysis, XRP has failed to attain the projected $100 price mark. At the time of writing, the cryptocurrency is trading below $1 at $0.62, according to CoinMarketCap.
Since last year, the price of XRP has struggled to keep up with the market’s bullish trends and has been consolidating around the price of $0.50 for months. However, recently, the cryptocurrency witnessed a surge in its value after breaking through crucial resistance levels around the $0.6 price mark. The unexpected price gain has heightened anticipation for a significant price movement, suggesting a potential uptrend during this bullish period.
Wall Street Expert Remains Optimistic
After acknowledging the unmet $100 XRP price prediction, Thorp highlighted XRP’s accomplishments, underscoring the cryptocurrency’s resilience in overcoming challenges that could have severely disrupted other digital currencies under similar circumstances.
According to the Wall Street veteran, XRP has shown its immense potential by enduring an extensive lawsuit filed by the United States Securities and Exchange Commission (SEC). She revealed that XRP has continued to prevail, holding its title as one of the top 10 cryptocurrencies despite facing multiple adversaries and regulatory hurdles during its developmental and advancement stages.
“Are we really to believe that XRP will fail? Well, I refuse to believe that because still to this day, I know what I hold,” Thorp stated.
Despite her predictions not coming to fruition, the Wall Street veteran has remained optimistic about XRP’s prospects, staying consistent with her support for the cryptocurrency and its development team.