XRP Coin
- In a post on the X platform, a crypto analyst suggested that the market cap of Ripple (XRP) will soon reach $1.5 trillion. How reasonable is this prediction? Last Wednesday, a crypto analyst shared a post on the X platform in which he explained an investment thesis that the market cap of Ripple (XRP) is likely to rise to $1.56 trillion if its dominance continues to grow in the coming months. Technical analyst Egrag Crypto - who has about 70,000 followers on the X platform - indicated that Ripple could outperform Bitcoin (BTC) and Ethereum (ETH) in terms of gains achieved at this stage of the bull market.
The analyst first explained that XRP’s dominance has continued to grow recently, rising from 1% to more than 5% in the past four years. One of the main reasons for this rise is Ripple’s victory in its lawsuit against the US Securities and Exchange Commission (SEC). After that, Egrag suggested that XRP price will rise above the 0.5 Fibonacci retracement level – which is usually a bullish sign – which could lead to its dominance increasing to 11.44%.
Given the current market cap of all cryptocurrencies – which is $3.28 trillion – Ripple’s market cap could soon reach $375 billion if Egrag Crypto’s predictions are realized, which could provide XRP holders with a 3x gain compared to its current market cap.