Nov 30, 2024
6thTrade
XRP Reaches 42-Month High, Surpasses BNB
XRP has been riding a powerful bullish wave, recently hitting $1.92, its highest price in over 42 months. This surge has elevated XRP above Binance Coin (BNB) in market capitalization, securing its position as the fifth-largest cryptocurrency globally. The price boost is attributed to significant whale activity and increasing market enthusiasm, fueling speculation about XRP’s potential to outperform both BNB and Solana in the near future.
XRP’s Bullish Potential: Aiming for $3.40 and Beyond
Crypto analyst Dark Defender has outlined an ambitious roadmap for XRP’s price trajectory, predicting it could reach $3.41 soon, with a possibility of hitting its all-time high (ATH) of $3.84. Recent technical milestones, such as breaking resistance at $1.44 and successfully retesting $1.97, suggest that XRP is positioned for further gains.
Key targets identified by Dark Defender include:
$3.41 as an immediate goal.
$5.85 as the next significant level based on Fibonacci retracement.
$11.30 within this bull run, supported by Elliott Wave theory.
$18 in 2025, driven by strong market fundamentals and continued growth.
The current rally, expected to accelerate in December, has strengthened speculation that XRP could secure a spot among the top three cryptocurrencies.
XRP Crosses $100 Billion Market Cap
XRP’s recent 21% price jump has pushed its market cap beyond $100 billion, reinforcing its position as a dominant player in the crypto space. This rally coincides with key developments, such as:
Stablecoin Approval: Anticipation around the potential regulatory approval of an XRP-backed stablecoin.
Upcoming ETF Launch: Market optimism about new investment opportunities tied to XRP.
These factors have bolstered investor confidence, with analysts predicting continued bullish momentum for the remittance-focused token.
The Race Against Solana: Will XRP Flip SOL?
As XRP gains momentum, it is closing in on Solana in market capitalization. Currently, Solana is priced around $244 with a market cap of $116 billion, while XRP’s market cap stands at $107 billion.
If XRP achieves its $3.40 target, its market cap could soar to $193 billion, surpassing both Solana and Tether, potentially securing the #3 spot in the cryptocurrency rankings.
Crypto analyst CrediBULL Crypto has speculated that XRP’s ascent to the top three is a realistic possibility, given its historical precedence of surpassing Ethereum in market cap prior to Ripple’s legal battle with the SEC in 2020.
Can XRP Achieve Its Ambitious Targets?
XRP’s current bull run is fueled by strong market fundamentals, growing investor confidence, and key developments in its ecosystem. While challenges remain, such as competition from Solana and market volatility, the token’s ability to consistently break resistance levels suggests it is well-positioned for further growth.
If XRP can sustain its momentum, achieving its $3.40 target and flipping Solana in market cap are within reach, marking a significant milestone in its journey to reclaiming a top-three position in the crypto market.
