According to strategists, XRP is currently heading towards the huge 200x mark, based on historical "altcoin season" data, with a lower limit of 10x.
The market data indicates that #XRP could rise significantly in value, with a potential of 10-500x in the next altcoin season.
This conclusion was based on two charts shared by Kevin Cage, a well-known market analyst and consultant.
His analysis is based on historical patterns that show the relationship between bitcoin's dominance in the market and XRP's performance in previous bullish periods.
Historically, XRP has shown strong growth during altcoin seasons. Typically, these seasons occur when #bitcoin dominance is declining and #altcoins are thriving.
In 2017 and 2021, the bull markets saw significant spikes.
In 2021, XRP managed to achieve another significant spike despite serious legal challenges from the SEC and the delisting of several exchanges.
In December 2020, the SEC filed charges against #Ripple and its executives, claiming that XRP was an unregistered security.
Despite these obstacles, the price of XRP has increased tenfold, from $0.18 to $1.96, while bitcoin's market share has fallen from 73.51% to 39.54%.
The chart currently shows that the market may be approaching another altcoin season, although bitcoin's dominance has recently increased to around 58.95%.
the previous cycles, if bitcoin's dominance starts to decline again, XRP could rise significantly in price. If XRP repeats its 2017 performance and reaches 500x growth, its price could soar from $0.55 to $BTC Otherwise, if it repeats its more modest 2021 performance and grows 10x, its price could be around $BTC This data suggests that altcoin season is here again, and history shows that XRP usually performs best during such periods.
However, the exact size of the potential upside remains uncertain. In addition, with the SEC recently filing a notice of appeal in the Ripple case, legal challenges could continue, potentially holding back the price of XRP.
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