XRP to $99? Top Trader Doesn't Think So

The Realistic Outlook for XRP's Price

The prospect of XRP reaching $99 has been a topic of much discussion among crypto enthusiasts, but top trader Tony The Bull Severino has quickly dismissed this as a mere fantasy. The current price of XRP, hovering around $2.03, is a far cry from the absurdly optimistic $99 forecast.

Despite the monthly chart's RSI maintaining levels last observed in late 2017, which generally indicates strength, a move to $99 would require a 50x rally from the current price. This would propel XRP's market capitalization to rival that of Bitcoin, an unlikely scenario unless the cryptocurrency somehow replaces the U.S. dollar, which is simply unrealistic.

The daily chart reveals a descending triangle formation, suggesting that XRP has been consolidating. Declining resistance has capped the price, and buyers can be found where the 100 and 200 EMAs converge. A breakout above this triangle may see XRP return to testing the $3 region, but significant gains beyond that are unlikely, barring a major catalyst.

Metrics for on-chain activity and payment volume indicate a consistent rather than rapid increase in transactions, and a slight increase in XRP's burn rate suggests increased network usage—but not enough to power a 50x surge. If XRP breaks out of this consolidation, its current structure suggests a modest rally, though anything above $3-$4 in the near term would be pushing it.

Severino's realism has effectively dispelled the hype surrounding XRP's potential to compete with Bitcoin. For now, the $99 target remains a meme, and traders would be wise to view it as a pipe dream. Investors should watch for breakout attempts above $2.05 but adjust their expectations accordingly.