Analyst Predicts XRP Price Will Outperform Bitcoin and Ethereum
Crypto analyst Egrag Crypto predicts that XRP will outperform Bitcoin and Ethereum, citing a significantly higher multiplier for XRP compared to these leading cryptocurrencies.
XRP Price Projection
Egrag Crypto forecasts XRP's market cap could reach between $619.61 billion and $1.56 trillion, indicating potential for greater dominance. Currently, XRP’s dominance stands at 3.93% above the Fibonacci 0.382 level; closing above Fib 0.5 (5.57%) may lead to double-digit dominance.
The price’s Volume-Weighted Average Price (VWAP) indicates minimal resistance above 4.30%, suggesting a smoother path toward an all-time high (ATH). Egrag Crypto identifies the "Kaboom green zone" beginning at Fib 0.50, signaling significant upward movement.
The smaller market cap of XRP allows for higher upside potential, enabling faster growth in dominance as it aligns with an overall altcoin rally. Key levels to monitor include Fib 0.0702 (11.44% dominance), Fib 0.786 (15.22%), and Fib 0.888 (21.5%). The total crypto market cap could rise to $5.42 trillion or $7.25 trillion, corresponding to XRP market caps of $1.16 trillion or $1.56 trillion at 21.5% dominance.
Short-Term Target: ATH Rally
XRP has achieved over 200% year-to-date gains, targeting a return to its ATH of $3.80. Analyst Javon Marks suggests a potential new ATH of $4.8. After briefly surpassing the $2.47 target, XRP's recent movements indicate a low time-frame bullish signal. A sustained movement above this level could facilitate a rally towards $4.8.
As of now, XRP is trading at approximately $2.19, reflecting a decline of over 4% in the past 24 hours, according to CoinMarketCap.
