XRP Market Cap Surges to $65 Billion, Becomes Sixth Largest Cryptocurrency
The price of XRP has surpassed $1, entering a zone last seen in 2021. The altcoin has experienced a 104.59% surge over the past seven days, with analysts expressing bullish sentiments regarding its potential growth.
XRP 'Kaboom' Confirmed – Price Path to $32
Market analyst EGRAG CRYPTO predicted a positive trajectory for XRP's market cap following recent gains. XRP's market cap is approaching the Fibonacci level of 0.702 at $51.35 billion and has reached 0.786 at $60.06 billion. The coin is also breaking past an ascending trendline dating back to 2017, signaling a potential series of significant price increases.
If the monthly candle closes above the Fibonacci level of 0.786, it could confirm an ascent to 1.618, leading to a total market cap of $283.42 billion. With a supply of 57 billion XRP, this could result in a price target of $4.96. EGRAG Crypto suggests that achieving subsequent Fibonacci levels will confirm further price targets.
Future targets include levels 2.0, 2.272, and 2.618, which would correspond to market caps of $577.86 billion, $959.66 billion, and $1.83 trillion, translating to prices of $10.13, $16.83, and $32.11, respectively.
XRP Market Cap Hits $65 Billion, Becomes 6th Largest Crypto
XRP’s market cap has reached $65.24 billion, reflecting a 26.51% increase in one day, allowing it to surpass DOGE as the sixth-largest cryptocurrency. The price rally began on November 15, following SEC Chair Gary Gensler's hints at a possible resignation, which may positively impact Ripple's ongoing case. Additionally, there has been a significant buying spree by XRP whales anticipating future gains.
As of now, XRP trades at $1.10, with daily trading volume increasing by 104.46% to $23.13 billion.
