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<p>The post <a href="https://coinpedia.org/news/citi-bankers-xrp-prediction-faces-criticism-over-500-price-target/" rel="noopener noreferrer nofollow">Citi Banker’s XRP Prediction Faces Criticism Over $500 Price Target</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Shannon Thorp, an Operational Specialist at Citi, is under scrutiny from the crypto community after her bold prediction that XRP could surge to $100 to $500 within seven months has not come to fruition.</p>
<h2 class="wp-block-heading" id="h-countdown-to-disappointment">Countdown to Disappointment</h2>
<p>In a recent post, user “Scam Detective” drew attention to Thorp’s ambitious forecast, noting that there’s only about a week left before her projected timeline concludes. Despite the anticipation for XRP to trade between $100 and $500, the cryptocurrency is currently struggling around $0.5369.</p>
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   <p lang="en" dir="ltr">Shannon has less than 10 days for her price prediction of $100-$500 near short term (4-7 months). <br>Do you think <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> will pump 18,500% in the next few days?<br><br>This post was seen by more than 1.7 million ppl &amp;the fact that she worked for a bank lent credibly to her poor prediction. <a href="https://t.co/Racyk1d9Zz" rel="noopener noreferrer nofollow">https://t.co/Racyk1d9Zz</a></p>— ⍼ ScamDaddy (@ScamDetective6) <a href="https://twitter.com/ScamDetective6/status/1760723252400267686?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 22, 2024</a>
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<p>Scam Detective sarcastically questioned the possibility of <a href="https://coinpedia.org/news/dark-defenders-bullish-prediction-xrp-aims-for-0-91-amid-market-challenges/" rel="noopener noreferrer nofollow">XRP experiencing an 18,500%</a> surge within the next few days to meet Thorp’s prediction.&nbsp;</p>
<p>Despite being viewed by over 1.8 million people, Thorp’s post has let down many in the community. Initially seen as credible because of her association with a major financial institution, her unfulfilled prediction has now raised doubts.</p>
<h2 class="wp-block-heading" id="h-xrp-to-500-doubtful-target">XRP To $500 – Doubtful Target</h2>
<p>Thorp’s analysis challenged the conventional methods of predicting XRP’s future price. She argued against the reliability of historical trends and criticized approaches based on utility and Ripple partnerships.&nbsp;</p>
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   <p lang="en" dir="ltr">People have long asked what will be the price of <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a>, when will this “utility” come? In my opinion, now more than ever I see a divided <a href="https://twitter.com/hashtag/XRPArmy?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRPArmy</a>! One side looking at only charts, taking cues from the past and trends that follow Bitcoin to draw short term price predictions. Whilst…</p>— Shannon Thorp (@thorpshannon87) <a href="https://twitter.com/thorpshannon87/status/1685427003879522305?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 29, 2023</a>
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<p>Instead, Thorp emphasized that XRP’s current supply needs a higher valuation to meet the demands of financial institutions settling cross-border payments effectively, especially considering the multi-trillion dollar valuation of the cross-border payment market.</p>
<p>Although the banker’s forecast of $100 to $500 was grounded in her belief that XRP’s current valuation was insufficient for the demands of the market it aimed to serve. Despite facing criticism, Thorp asserted that her $500 projection was a conservative estimate and stood by her analysis.</p>
<h2 class="wp-block-heading" id="h-a-questionable-surge">A Questionable Surge</h2>
<p>As of now, Thorp has not provided an updated response on her $500 projection. With XRP currently <a href="https://markets.coinpedia.org/xrp/" rel="noopener noreferrer nofollow">trading at $0.5409</a>, achieving a $500 valuation within the next seven days would require an improbable 93,027% surge in the asset’s price.&nbsp;</p>
<p>However, the significant gap between the predicted and actual value has fueled community discussions, questioning the feasibility of such a surge in the given timeframe.</p>

Citi Banker’s XRP Prediction Faces Criticism Over $500 Price Target

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