#Xrp🔥🔥 could finally overcome its underperformance if it replicated the rally experienced by Binance Coin (BNB) between 2020 and 2021.
The market continues to give cryptocurrency assets opportunities to break free from their current positions during what investors refer to as a bullish phase. Some assets have seized this phase to reach price levels they may never return to in the future.
XRP's Weak Performance in 2020
However, some assets failed to fully capitalize on the bullish market during these periods. One such asset was XRP, which saw a remarkable 60,000% increase during the 2017-2018 bull run but failed to make the most of the 2020/2021 bull phase.
Some experts argue that XRP's underperformance was due to the SEC lawsuit against Ripple, which began in December 2020, just before the bull market started. This lawsuit negatively impacted XRP's price action, as several U.S.-based exchanges delisted the token, leading to widespread capitulation.
However, after XRP was declared a non-security during the summary judgment in July last year, these exchanges relisted the altcoin. Now, some market analysts believe that XRP could benefit from the ongoing bull run, despite warnings from some commentators.
What If XRP Replicated BNB's 2020 Rally?
It’s worth noting that several assets experienced remarkable surges during the 2020/2021 bull run. For instance, BNB started 2020 at a price of $13.7, rising to $27 by February that year. After a correction, BNB dropped to a low of $12.5 in March 2020.
This bearish turn was short-lived, as BNB eventually recovered. The recovery led to a massive surge, with the altcoin posting 11 bullish monthly candles out of 13 in the following year. BNB rose from its low of $12.5 in March 2020 to a peak of $638 in April 2021, marking an incredible 9,813% increase.
Now that XRP is free from the legal pressure that hindered its performance during the 2020/2021 run, we recently assessed what price XRP could reach if it mirrored BNB’s rally from March 2020 to April 2021.
Notably, XRP traded at a low of $0.5386 in March 2024. Many market observers expect the current bull run to continue into next year, following a similar trend seen in previous bull markets. If XRP were to replicate BNB's 9,813% rally, its price could soar to $53, a new all-time high.
At this price, an investment of $1,000 in XRP would yield $96,839. While this presents a significant opportunity for investors, the scenario is purely hypothetical and not guaranteed. This is mainly because XRP's supply would lead to a market capitalization of $5.3 trillion at a price of $53 per token.
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