The cryptocurrency market is no stranger to bullish predictions, especially given the current positive market sentiment. According to a crypto market participant who goes by the name Scofield (@Crypto_Scofield) on social media platform
In his recent post, Scofield shared a list of price targets for several cryptocurrencies, including well-known tokens such as Dogecoin and XRP. Among notable predictions, he suggested that Dogecoin could reach $3 while XRP could reach $5, describing these price levels as “a matter of time.”
Price predictions to stir crypto investors
Although the mail in which this analyst emphasized that these bullish price targets were not accompanied by technical analysis and potential timelines, it nevertheless plays into the current bullish sentiment surrounding these cryptocurrencies.
For example, XRP is in decline ultra-bullish inflows and buying pressure from crypto traders, putting the price at its highest point in more than three years. At the time of writing it is XRP is trading at $1.93, that is the highest level since 2018. This impressive rally has reignited interest in the token and it is only a matter of time before the XRP price rises. exceeds the critical threshold of $2.
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Scofield’s claim that the XRP price could rise to $5 is in line with the bullish sentiment that has surrounded the token since the US presidential election. Furthermore, the expected change in SEC leadership has caused the XRP price to rise more than many expected. However, reaching $5 would require the XRP price to overcome its current all-time high of $3.40 and maintain consistent trading volume.
Another interesting aspect of Scofield’s predictions is the projection of Dogecoin reaching $3. This prediction resonates with the continued enthusiasm surrounding the token, which has received renewed attention from both retail and institutional investors.
Dogecoin, like XRP, is trading at a multi-year high, recently rising to $0.4759. Notably, this marks the highest level the Dogecoin price has reached in three years. For Dogecoin, reaching the predicted value of $3 would translate into a 530% increase from $0.4759.
Other predictions: Broader bullish sentiment
Scofield’s list extended beyond Dogecoin and XRP as it includes several altcoins with equally ambitious goals. Specifically, he foresees Fetch.ai (FET) rising to $10, Fantom (FTM) rising to $5, and Injective Protocol (INJ) rising to $150. Moreover, he predicted that VeChain (VET) will reach $0.25, Coti (COTI) $1, and Oasis (ROSE) $0.80.
Featured image from Pexels, chart from TradingView