Experts Make a Case for XRP $589 Goal Amid Recent BTC Forecast

The argument for XRP’s rally to the lofty $589 goal recently re-emerged.

XRP remains one of the major crypto assets with promise, according to industry leaders. Notwithstanding, forecasts of the asset’s rally to a $589 price have been dismissed as wishful thinking. These speculations recently re-emerged amid predictions of a Bitcoin (BTC) surge to $1 million in 90 days.

Bitcoin’s impressive momentum and the surge above $28,000 reignited optimism among investors, with Balaji Srinivasan, ex-Coinbase CTO, predicting BTC could rise to $1 million in 90 days.

Recently, David Gokhshtein, former United States Congressional candidate, made a case for XRP’s $589 goal following Srinivasan’s forecast. According to Gokhshtein, if these predictions of BTC hitting $1 million could find their way into the crypto space, why are forecasts of XRP reaching $589 summarily dismissed?

Wait — I have a question. 🤔

When people talk about #Bitcoin potentially hitting $1M in 90 days, we throw parties and shit.

When the XRP army states that $XRP has a chance of hitting $589, you get the entire space dogging the possibility.

— David Gokhshtein ®️ (@davidgokhshtein) March 20, 2023

Nonetheless, Gokhshtein has clarified that he is not seeking to bring up reasons to back up the XRP forecasts, noting that he only seeks to point out the disparity in reception regarding both predictions.

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Gokhshtein dismissed the narrative that Bitcoin could hit $1 million in 90 days. He believes BTC is incapable of reaching that milestone, especially in such a short period. However, responding to him, some enthusiasts asserted that it could be possible.

Realistically, there’s no way #Bitcoin hits $1M per coin in the next 90 days.

But it makes for good conversation on social media.

— David Gokhshtein ®️ (@davidgokhshtein) March 20, 2023

Bitcoin to $1M: Possible or Wishful Thinking?

Recall that Srinivasan had opted to bet on a stance from pseudonymous Twitter personality James Medlock that the U.S. would not reach a stage of hyperinflation.

Srinivasan noted that he would send Medlock $1 million while Medlock purchases 1 BTC. Srinivasan argues that the 1 BTC will be worth $1 million in 90 days. That’s a 3,482% appreciation from Bitcoin’s current $27,916. Most proponents remain skeptical of this prediction.

I will take that bet.
You buy 1 BTC.
I will send $1M USD.
This is ~40:1 odds as 1 BTC is worth ~$26k.
The term is 90 days.
All we need is a mutually agreed custodian who will still be there to settle this in the event of digital dollar devaluation.
If someone knows how to do this… https://t.co/tcuBNd679T pic.twitter.com/6Aav9KeJpe

— Balaji (@balajis) March 17, 2023

Notably, the idea that XRP could potentially hit $589 sprang up last year amid the circulation of a fake Simpson image. The image depicts Bart Simpson scribbling “XRP to hit $589+ by EOY” on a board. The show is famous for making subtle predictions, some of which have materialized.

The image claims that the episode containing the XRP prediction aired in 2020, but this has been debunked. This still did not stop some enthusiasts from riding along with the forecast. XRP would need to surge by 154,452% from its current value of $0.3811 to $589. Numerous proponents have mentioned that this is impossible.

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• Source: https://thecryptobasic.com/2023/03/20/experts-make-a-case-for-xrp-589-goal-amid-recent-btc-forecast/?utm_source=rss&utm_medium=rss&utm_campaign=experts-make-a-case-for-xrp-589-goal-amid-recent-btc-forecast