Dogecoin price to $3 and XRP price to $5? Analyst says it’s ‘a matter of time’

The cryptocurrency market is no stranger to optimistic predictions, especially given the current positive market sentiment. According to a crypto market participant who goes by the name Scofield (@Crypto_Scofield) on the social media platform X, there are some altcoins with upside potential in the coming weeks and months.

In his recent post, Scofield published a list of price targets for various cryptocurrencies, including well-known tokens such as Dogecoin and XRP. Notable predictions included that Dogecoin could reach $3 while XRP could reach $5, describing these price levels as “a matter of time.”

Price predictions are designed to excite crypto investors

Although the contribution While this analyst emphasized that these bullish price targets did not come with technical analysis and possible timelines, it still plays into the current bullish sentiment surrounding these cryptocurrencies.

XRP, for example, has endured extremely bullish inflows and buying pressure by crypto traders, causing the price to reach its highest level in over three years. At the time of writing this article XRP is trading at $1.93, This is the highest level since 2018. This impressive rally has revived interest in the token and it is only a matter of time before the XRP price rises exceeds the critical threshold of $2.

XRP price is already up 270% in the last 30 days, and reaching the predicted $5 mark would represent a further 160% increase at this point.

Scofield’s claim that XRP price could rise to $5 is in line with the optimistic sentiment surrounding the token since the US presidential election. Additionally, the expected change in SEC leadership has pushed the XRP price higher than many expected. However, to reach $5, XRP price would need to overcome its current all-time high of $3.40 and maintain consistent trading volume.

Another interesting aspect of Scofield’s predictions is that Prediction that Dogecoin will reach $3. The Prediction resonates the ongoing enthusiasm for the token, which has attracted renewed attention from both retail and institutional investors.

Dogecoin, like XRP, is trading at multi-year highs and recently rose to $0.4759. Notably, this is the highest the Dogecoin price has reached in three years. For Dogecoin, reaching the predicted $3 mark would represent a 530% increase from $0.4759.

Other predictions: A broader bullish sentiment

Scofield’s list went beyond Dogecoin and XRP as it includes several altcoins with equally ambitious goals. Specifically, he expects Fetch.ai (FET) to rise to $10, Fantom (FTM) to reach $5, and Injective Protocol (INJ) to rise to $150. Additionally, he predicted that VeChain (VET) will reach $0.25, Coti (COTI) will reach $1, and Oasis (ROSE) will reach $0.80.

Featured image from Pexels, chart from TradingView