Following a period of progressive gains, XRP has cooled down after hitting a major barrier around $3, causing a prolonged delay.
The token’s holders however seem resolute about it as a tweet on 8 October shows they believe the token can reach $10,000 in the future.
Fondly known as the XRP army, the fans responded to the tweet in a way that shows strong confidence in the token regardless of current challenges.
A reasonable expectation?
The XRP army has always been optimistic that the token will rise to an unprecedented price despite the criticisms it has faced.
The most notable price the group has touted is $589, which some analysts have said is impossible to reach considering the token’s maximum supply of 100 billion.
It took roughly five years from its launch in 2012 for the token to reach the all-time high of $3.84 in early 2018, and it has not reached this price again since.
Most of the optimism concerning the token revolves around the hope for an XRP ETF which they believe will initially take the price to $10 and higher.
While the token has some utility around cross-border settlement as a cheap way of settling payments, a price target of $10,000 may be too ambitious for now considering current realities.
Current status
XRP has seen a lot of fear, uncertainty and doubt (FUD) in the last few days for unknown reasons.
However, this FUD may be in fact, a sign that the token is ready for a breakout and another leg up.
Onchain analysis platform Santiment said the FUD is a sign of good days ahead because the market usually acts in the opposite direction to the prevailing sentiment, especially among retail investors.
What do you think?
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