XRP Price Tumbles Below $1.40 as Analyst Sets Ambitious $60 Target

XRP's price has fallen below $1.40, down 3.24% from its previous session. This development comes as analyst Ali Martinez sets a target of $60 for the token, suggesting that a monthly close above $3.66 could unlock this potential.

According to Martinez, reaching this milestone would require XRP to climb almost 170% from current levels, and getting to $60 would mean a jump of close to 4,000%. The analyst's argument is based on breaking the long pattern of failed attempts to hold gains above prior highs.

Ripple CTO David Schwartz also weighed in on XRP's potential, stating that it could overtake Bitcoin in total market value. However, he clarified that this would not happen due to a decline in Bitcoin's value, but rather from XRP growing faster than its rival.