Jordan Belfort, popularly known as the Wolf of Wall Street, told the public that he owns many XRP coins despite US financial regulators calling it an unregistered security. Jordan Belfort was also a Bitcoin skeptic in 2017, claiming that the coin was a scam.
When asked by many XRP enthusiasts about the coin, he said that it was the “best thing since sliced bread.” Belfort predicted that the coin’s price could rise to $10, a sky-high target.
However, other XRP enthusiasts supported Belfort’s claim by calling the goal a very realistic target. For XRP to hit this price, the coin would need to have a market capitalization of $500 billion.
This goal becomes harder to reach when people remind themselves that the current market cap of XRP is $50.12 billion. Furthermore, Ripple is one of the cryptocurrencies that did not follow the bullish trend of other cryptocurrencies.
In fact, due to the legal lawsuit they are dealing with in the United States, the price continues to remain sideways, with many people fearing a potential downwards correction in the future.
Fortunately, Ripple made a comeback by restoring itself at the $1.6 mark. However, XRP seemed unable to rise above its weekly position despite possessing a 1.91% market dominance.
Moreover, other investors found an inverted cup and handle pattern in the coin’s weekly chart that signified a potential price decline in the coming future.
Although Jordan Belfort might be right in Ripple’s success in the future, reaching $10 might take more time than other XRP enthusiasts expect.