One crypto analyst, Egrag Crypto, is making some bold predictions about XRP. They believe XRP’s price will skyrocket, even surpassing Bitcoin and Ethereum.
XRP’s Potential Dominance
Egrag’s analysis suggests XRP has a much bigger potential for growth than Bitcoin or Ethereum. They predict XRP’s market cap could reach anywhere from $619.61 billion to a whopping $1.56 trillion! This is based on their assessment of XRP’s current market position and its potential to gain market share.
The analyst points to several key indicators supporting this prediction:
- Fibonacci Levels: XRP’s current dominance is above a key Fibonacci level (0.382). Breaking above another level (0.5) could trigger a significant increase in dominance, possibly reaching double digits.
- VRVP (Volume Relative to Volume Price): The VRVP shows low resistance, suggesting a smoother path to new all-time highs.
- Smaller Market Cap Advantage:
XRP’s relatively smaller market cap means it has more room to grow quickly compared to giants like Bitcoin and Ethereum.
Egrag highlights specific dominance levels to watch: 11.44%, 15.22%, and 21.5%. Reaching these levels would significantly impact XRP’s market cap, potentially reaching the trillions based on their projections for the overall crypto market cap.
Short-Term Targets and Current Price
While the long-term predictions are ambitious, the short-term target is a more achievable all-time high (ATH) of $3.80. This is a significant increase from the current price, but another analyst, Javon Marks, even suggests a potential ATH of $4.80. They point to recent price movements as a bullish signal.
Currently, XRP is trading around $2.19, slightly down in the last 24 hours. However, the analysts’ predictions suggest this could be a temporary dip before a significant price surge.
