XRP’s Price Prediction Falls Short, Citi Banker Acknowledges Mistake
Shannon Thorp, a prominent Citi banker in the cryptocurrency world, has finally admitted that her bold forecast about XRP’s future value did not come to fruition. In a recent post on X, Thorp acknowledged her inaccurate prediction that XRP could potentially reach $500 within seven months.
Last year, on July 30, 2023, Thorp confidently stated that XRP had the potential to hit a market value of $100 and $500 within four to seven months. This statement quickly gained attention and was viewed over 1.8 million times. Thorp based her optimistic forecast on the substantial size of the cross-border payment market, believing that a low-priced XRP would not be suitable for such a large market.
At the time of her prediction, XRP was trading at $0.712. Thorp anticipated a significant growth of 70,124% by February 29, but instead, the asset experienced a decline of at least 15%. With the seven-month timeframe ending, Thorp took to X to admit her mistake, facing backlash from critics in recent weeks.
Thorp described the experience as “bittersweet” and acknowledged how far XRP has come since her forecast. She reflected on various events that have shaped the XRP landscape, such as regulatory clarity, digital asset conferences, partnerships, and the exposure of ETHGATE. Thorp expressed gratitude towards attorney Steven Nerayoff and other influential figures in the XRP community for their contributions to these developments.
Despite the failed prediction, Thorp maintained her unwavering faith in XRP’s future. She remains optimistic about the resilience of XRP in the face of adversity, questioning whether the asset will truly fail considering the progress it has made.