The rise in the Bitcoin (BTC) price has nailed many altcoins, including XRP, in place. Although the XRP price has moved towards $ 0.30 in the last week, the rise that investors wanted is still not fully manifested. Cane Island Alternative Advisors manager Timothy Peterson thinks the expected year will be 2021.
XRP price is far from an all-time record
XRP price rose as high as $ 3.30 during the 2017 bull season. This shows that Ripple’s cryptocurrency XRP is currently approximately 95% behind its all-time high. While Bitcoin is nearly reaching the all-time record, the XRP stagnation is making investors uneasy.
In his tweet about the subject, Peterson emphasized that XRP and Ripple will surprise everyone with their performances in 2021. Stating that XRP is now at the lowest possible level compared to the days ahead, the manager stated that this can even surpass the performance of Bitcoin. 2021 will be the best year for XRP since 2017, according to Peterson.
I know it doesn't look like much but this is $XRP lowest price forward. I think people will be surprised at #Ripple's performance in 2021. It will probably have its best year since 2017 and maybe outperform #bitcoin. pic.twitter.com/sSwkPuS1Pl
— Timothy Peterson (@nsquaredcrypto) November 7, 2020
Possible targets for XRP price
Although the BTC price declined to $ 3,700 in March 2020, it has risen to $ 18,500 as of today. This shows that there has been a 500% increase since that level. If Peterson is right and the XRP price can outperform Bitcoin’s performance, it can be seen to experience a minimum 500% increase.
This indicates a unit price of $ 1.5 per press hour. Of course, even if XRP rises above the $ 0.50 resistance that has not been able to pass for a long time, it could start a real FOMO for investors. While the growth of XRP volume in the third quarter is hopeful, Ripple uncertainty in the US could spoil everything for investors.