XRP Price Hits $100 Billion Market Cap: What’s Next?

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As a seasoned crypto investor with a knack for spotting trends and reading charts, I find myself increasingly bullish about XRP‘s future. With analysts like Dark Defender pointing towards a potential rally to $5, it’s hard not to get excited. The recent surge has not only pushed XRP back into the top 5 by market cap but also flipped BNB – a significant milestone.

The value of XRP has reached a market capitalization of $100 billion once more, strengthening the optimistic viewpoint towards this cryptocurrency that has been among the top performers in recent periods. Notable crypto analysts like Dark Defender have shared their predictions about XRP’s future.

XRP Price Could Rally To $5 Next

In a recent post, cryptocurrency expert Dark Defender proposed that the price of XRP might surge up to $5 during its next upward trend. This prediction stemmed from his observation that the initial target of $1.8 for XRP in this bull run has already been achieved, causing the crypto to surpass the $100 billion market capitalization milestone.

After achieving the initial goal, there’s potential for XRP to rise to approximately $5.8, as suggested by Dark Defender’s accompanying chart, which marks this as one of its median targets. Notably, the chart also points towards a potential $18 level, implying that XRP might reach this height at certain stages in the future.

In a recent analysis, Dark Defender employed the Elliot Wave theory to demonstrate that, within this market cycle, XRP might reach as high as $18. This anticipated surge is based on the projection of a parabolic rally during the Wave 5 upward impulse.

In a separate analysis, a cryptocurrency expert has highlighted the importance of the $1.8815 Fibonacci level in the immediate future. He mentioned that the value of XRP reached $1.9508 and subsequently fell back to this significant level. Consequently, he advised that the crypto should maintain its position above $1.8815 for a minimum of three candles.

Based on Dark Defender’s advice, the initial move involves maintaining a position for 12 hours at or above this specified level, followed by a consecutive closure above it over a period of 3 days. If we manage to sustain a close above this Fibonacci level, it could suggest that it serves as a strong support level and potentially drive XRP prices to unprecedented heights.

In light of the current surge in XRP, it’s noteworthy that this cryptocurrency has overtaken BNB to claim the fifth spot on the list of largest cryptos by market capitalization. Dark Defender speculates that XRP might even surpass Solana to take the fourth position. In fact, this analyst has previously made a daring forecast that XRP could one day outrank Ethereum as well.

Double Digits Price Target On The Horizon

According to crypto analysts such as Egrag Crypto and Mikybull Crypto, it’s expected that the price of XRP could reach double-digits soon. Egrag Crypto believes that if XRP manages to close above the $2 mark, a surge in fear of missing out (FOMO) might occur.

The analyst suggests that if history repeats, XRP may trade within a range from $20 to $27, with values in the double digits. This prediction appears to be based on the 2017 bull run, where XRP experienced significant growth en route to its current all-time high of $3.8.

According to crypto expert Mikybull Crypto in a recent post, the price of XRP seems reminiscent of the 2017 bull run. This suggests that XRP could potentially reach $2, followed by a dip, before it resumes its upward trend towards a possible new cycle peak of around $10, characterized by what Mikybull calls “vertical hated rallies.

In a previous post, he advised market participants to keep an eye on the events that will unfold once XRP surpasses its all-time high (ATH). The cryptocurrency expert further speculated that we might soon witness another massive surge similar to 2017, becoming visible to all. Given that XRP is currently soaring, a recent analysis by CoinGape suggests that the crypto could be reaching its ATH very soon.

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2024-12-01 03:42