All speculations that XRP was dead came true as the price of XRP increased by 11%. Now, the bigger question is, can it reach $10? Achieving this would require a market capitalization of approximately $520 billion, almost double that of Ethereum.
Given that the current value is still hovering above $0.55 and trading volume is $1.55 billion, attention will turn to the SEC's conference in early March when the discovery phase concludes. Despite legal concerns, XRP has shown resilience and counters speculation that customer interest will wane.
One analyst expects XRP to reach $10 this cycle.
Historically, XRP has been close to $10.here it is why?
A prominent cryptocurrency analyst known as “CrediBULL Crypto” has sparked a frenzy within the XRP community by predicting the potential for huge profits by closely monitoring XRP. In a recent analysis, analysts suggest that XRP's potential valuation within the current market cycle is $10, taking advantage of historical price trends and the coin's ability for aggressive spikes. I am.
The analyst argues for watching XRP closely this cycle, pointing to its history of explosive growth, especially when compared to Bitcoin. His analysis is supported by evidence. During the 2017/2018 bull market, XRP showed great resilience, soaring from $0.2326 to an all-time high of $3.84 in just five weeks. This surge resulted in an astounding 1,550% rise, overturning Bitcoin's meager 40% rise during the same period.
Similarly, historical data for 2014 tells a different story. XRP has outperformed Bitcoin during the bull market, gaining an astounding 455% in just 33 days, compared to Bitcoin's 170% rise.
XRP – Signs of a breakout
Analysts have identified new signs of a potential breakout in XRP, hinting at the possibility of a big rally in the near future. They set a goal of potentially 200% return on Bitcoin in hopes of doubling the value of XRP.
Moreover, analysts believe that the expected 200% gain is only a conservative goal and that even higher gains are possible if XRP breaks above historical resistance levels. Such a breakthrough could pave the way for further upside, potentially delivering a 600% return against Bitcoin.
Asked about the chances of XRP reaching $10 in the current bull market, analysts expressed confidence in XRP's chances of achieving this milestone. However, achieving this ambitious goal will depend on various market factors and whether XRP can maintain its momentum in the coming weeks.
As of the latest update, XRP is trading at $0.5638, and it remains unclear whether it will outperform Bitcoin by 800%. Nevertheless, analysts' optimistic outlook on XRP highlights the potential for significant gains in the cryptocurrency market, offering investors an opportunity to take advantage of emerging trends and current dynamics. doing.
