Altcoin Season To Push XRP 10x-500x
The Ripple token is one of the best cryptos, and despite its struggles, investors are still focusing on this crypto. It is because of the long-awaited rally that might push its value to new highs so many can recover their losses. Interestingly, a market analyst and Iron Key Capital advisor, Kevin Cage, predicted that the altcoin season might push the Ripple native token by 10-500x.
In a recent X post, Cage shared two charts to back his crypto prediction. With these, he revealed that the last two times the market witnessed the XRP price rally happened during the alt seasons. More importantly, Bitcoin was drawing a higher high first at that time. The two rallies mentioned here are from 2017 and 2021, where a 500x surge was seen in the first and a 10x surge in the second.
In diving deep, during 2017, the Ripple price lifted from $0.006 to $3.50, managing a surge of 500x. Interestingly, Bitcoin’s dominance faced a major drop at the same time. It was around 95.91% in the beginning, but it dropped to 35.46, leading to this XRP price rally. The main reason is that an altcoin season started with a drop in BTC dominance.
Moving ahead, everything was against the Ripple token in 2021, as it was the time when the Ripple Vs SEC lawsuit took a serious turn. Even the token got delisted from multiple cryptocurrency exchanges. Despite that, the token had a 10x rally, pushing its price from $0.18 to $1.96. Interestingly, there was another drop in Bitcoin’s dominance from 73.51% to 39.54% over months, confirming the relation between the dominance/alt season and the XRP price rally.
If the BTC dominance begins to decline, bringing an altcoin season, the same rally might form this time as well
