XRP Price Hits $100 Billion Market Cap: What’s Next?
Summary
- Crypto analyst Dark Defender suggests that XRP’s price could rally to $5 after reaching a $100 billion market cap.
- He cautions that XRP must maintain a sustained close above the $1.8815 Fib level for the upward trend to continue.
- Analysts Egrag Crypto and Mikybull Crypto also predict that XRP could target double digits in the near future.
XRP has once again reached a $100 billion market cap, fueling a bullish outlook for the cryptocurrency. This milestone reinforces XRP’s position as one of the top-performing assets in the crypto market recently. The achievement reflects strong investor confidence and suggests continued growth potential for the asset.
Crypto analyst Dark Defender has shared his perspective on what might come next for XRP. He believes that the cryptocurrency could experience a rally to $5, provided it maintains momentum and sustains key price levels. According to Dark Defender, a critical factor for the upward trend is XRP’s ability to close consistently above the $1.8815 Fib level, which would signal a strong continuation of the bullish movement.
Other analysts, such as Egrag Crypto and Mikybull Crypto, also share an optimistic view for XRP. Both believe that the asset is on track to reach double-digit prices in the near future, further enhancing its appeal to investors. With XRP’s market cap reaching new heights, many are watching closely to see if the cryptocurrency can sustain its upward trajectory.
XRP Price Set to Rally Towards $5 Next
In a recent X post, crypto analyst Dark Defender suggested that XRP’s price could rally as high as $5 on its next upward move. He pointed out that the first target of $1.80 in this bull run had already been achieved, helping XRP reach a $100 billion market cap. With this target surpassed, Dark Defender believes XRP could now target $5.80, which he highlighted as a median target on his chart. Interestingly, the chart also suggests $18 as another potential median target, implying that XRP could reach this level at some point in the future.
Dark Defender also used his Elliott Wave theory to demonstrate how XRP could eventually hit $18 in this market cycle. His analysis indicates that such a parabolic rally could occur during the Wave 5 impulsive move to the upside, signaling significant upward momentum for the cryptocurrency.
However, in another X post, Dark Defender cautioned about the critical Fibonacci level at $1.8815 for XRP in the short term. He observed that XRP touched $1.9508 before retracing back to this key Fib level. For the upward trend to continue, he emphasized that XRP must maintain a sustained close above $1.8815, starting with a 12-hour stay above this level, followed by a 3-day close. If XRP can hold this level, it could establish $1.8815 as a strong support, potentially propelling the asset to new highs.
Amid XRP’s recent rally, the cryptocurrency has surpassed BNB to become the fifth-largest by market cap. Dark Defender now predicts that XRP could soon flip Solana, positioning it as the fourth-largest crypto by market cap. The analyst had previously made bold predictions, including the possibility of XRP eventually flipping Ethereum as well.
Double Digits Price Target On The Horizon
Crypto analysts Egrag Crypto and Mikybull Crypto suggest that a double-digit price target for XRP is on the horizon. In his analysis, Egrag Crypto explained that FOMO (fear of missing out) will likely drive price action if XRP closes above the $2 level.
Egrag further noted that if history repeats itself, XRP could trade in the double digits, potentially reaching between $20 and $27. The analyst seems to reference the 2017 bull run in his chart analysis, during which XRP experienced significant gains on its way to its current all-time high (ATH) of $3.80.
Crypto analyst Mikybull Crypto also shared in an X post that XRP’s price is showing signs reminiscent of the 2017 rally. Based on this pattern, the analyst predicts XRP will hit $2, then experience a pullback before continuing its “vertical rallies” to a new cycle peak, potentially reaching $10.
In another X post, crypto analyst Mikybull Crypto urged market participants to pay close attention to what happens once XRP breaks its all-time high (ATH). He believes that a major rally, similar to the one seen in 2017, is on the verge of unfolding before everyone’s eyes. According to the analyst, this next phase could be even more explosive, with XRP poised for significant price action.
Mikybull Crypto’s comments have generated excitement among investors, who are watching for XRP to surpass its previous ATH. The analyst emphasized that the market is entering a critical phase where historical price patterns could repeat, leading to a new surge in XRP’s value. As the cryptocurrency continues to gain momentum, many are eagerly anticipating what comes next.
Adding to the bullish sentiment, a recent market analysis by CoinGape also suggested that XRP’s ATH may be imminent. The analysis highlighted strong technical indicators and market conditions that align with a potential breakout. With XRP’s price on the rise, both analysts and investors are closely watching the next move, expecting a breakthrough that could send the cryptocurrency to new heights.
The possibility of a new ATH has fueled speculation that XRP could replicate the kind of massive rallies seen in 2017. During that bull run, XRP saw substantial gains, and many investors are hopeful that the crypto is set to repeat that success. With the market showing signs of bullish momentum, there is increasing confidence that XRP will soon achieve new all-time highs.
As XRP continues to soar, Mikybull Crypto and others in the crypto community are closely monitoring the market for signs of the next big move. If history is any guide, the coming weeks could bring significant price action for XRP, possibly setting the stage for another explosive rally similar to the one that captivated investors in 2017.
