Chainlink Price if LINK Hits XRP’s $144 Billion Market Cap

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As a seasoned analyst with over two decades of experience in the financial markets, I must admit that the potential growth of Chainlink (LINK) is quite captivating. With my eyes trained on the technical indicators and market trends, it’s hard not to be intrigued by the prospect of LINK matching XRP’s current market cap.

The current movement in the price of Chainlink (LINK) exhibits a new surge in bullish energy, with the overall market trend largely remaining flat. At present, LINK is constructing an ascending triangle structure, hinting at a possible breakout. As speculation grows about what the price of Chainlink might reach if it were to match XRP’s $144 billion market cap, investors are looking forward to potential further increases.

Here’s Chainlink Price If It Hits XRP’s Market Cap

If Chainlink’s market value were to equal XRP’s current market value, its price could potentially skyrocket. Currently, Chainlink has a market capitalization of $17.7 billion, ranking it 12th on CoinMarketCap. On the other hand, XRP boasts a market cap of $144 billion, placing it third after a recent 5% increase over the past day. This indicates that XRP’s market cap is roughly 7.1 times larger than Chainlink’s, demonstrating a significant disparity between these two cryptocurrencies.

To match XRP’s market capitalization of $144 billion, LINK would need to experience a significant increase in value, roughly 8 to 9 times its current valuation. Given that LINK is currently priced at $28, this would translate to an impressive rally of approximately 720%, pushing the price up to around $230. This estimation aligns with expectations based on LINK’s current supply of about 626 million tokens. Although this forecast seems ambitious, it becomes plausible when considering recent events such as the reported addition of LINK to Donald Trump’s investment portfolio, rumors of a partnership with BlackRock, and other promising developments within Chainlink, the leading oracle in the cryptocurrency market.

The following tweet details that Chainlink stands out as the sole cryptocurrency firm collaborating with multiple established institutions, such as DTDC, Fidelity, SWIFT, among others.

$LINK is the only project collaborating with the biggest financial institutions on the planet

Study it before the train leaves the station

— Quinten | 048.eth (@QuintenFrancois) December 17, 2024

 

LINK Technical Analysis

As of Tuesday’s European trading session, the current price of LINK was $28.21. However, it has dropped by 3.63% since then. Over the last week, Chainlink has experienced a surge of 22%, and over the past month, the coin has seen an impressive increase of 95%.

The price movements in these digital currencies mirror the broader cryptocurrency market trends. Notably, Bitcoin reached an all-time high of $107,000, which has increased investor confidence and caused major altcoins like Ripple‘s XRP and Chainlink (LINK) to increase in value as well.

The cost of LINK encounters stiff opposition at the $30 mark, with bulls and bears engaged in a struggle for dominance. If the bullish trend continues, the LINK price forecast could surge towards $40 in the immediate future. A significant breakout above $40 might propel the token towards its previous all-time high of $52, a level not seen since four years ago. On the flip side, if sellers gain the upper hand, the price may dip and retest support around $20.

In simpler terms, the MACD line, which represents a bullish trend, is slightly above the signal line, suggesting a slowing but still positive momentum in the market. The histogram, despite being positive, shows diminishing bars, implying less buying enthusiasm among investors. Meanwhile, the Chaikin Money Flow (CMF) for LINK stands at 0.07, signifying a modest increase in capital inflow towards this cryptocurrency.

If Chainlink reaches XRP’s $144 billion market cap, its price could surge to $230. While ambitious, current bullish momentum and market trends signal growing investor confidence in LINK’s future.

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2024-12-17 12:39