TL;DR
One analyst believes that XRP could flip ETH due to potential factors such as a favorable Ripple vs. SEC outcome or ETF approval. However, some predict a possible 12% decline.
Will XRP reverse ETH?
Ripple’s XRP is one of the few major cryptocurrencies to see a decline in year-to-date (YTD) price. It is currently trading at around $0.52, representing a 15% decline compared to the numbers observed on January 1st.
XRP price, source: CoinGecko
Nevertheless, many bullish analysts believe that XRP is about to catch up with the market pace and record impressive gains. One optimist is Ben Armstrong, better known in X as Bitboy.
Recently, he predicted that the market cap of Ripple’s native token could exceed that of Ethereum (ETH). He made his wild predictions based on the assumption that XRP has no competitors. Meanwhile, BitBoy said that Ethereum’s rivals have been on the rise recently, citing Solana (SOL), Avalanche (AVAX), Cardano (ADA), and Polkadot (DOT) as examples.
The analyst believes ETH still has a chance to make a big comeback sometime next year, but he doesn’t think the market cap will exceed $1 trillion (the current market cap is $300 billion). strength).
Turning to XRP, he expected the price to explode to $22. Such an increase would bring the asset’s market cap to a whopping $1.17 trillion.
“20x to 30x for XRP from here is not that crazy. In fact, more than that is possible. I believe this will probably be the number one coin in the entire bull market.” Bitboy guessed.
It is worth noting that the XRP bull market depends on a combination of numerous factors. According to the analyst, these include a possible Trump victory in the US presidential election (and the resulting firing of SEC Chairman Gary Gensler), the final resolution of the Ripple v. SEC case, and the approval of XRP. It is said to include things like. American ETFs etc.
Another X user who has seen his assets reach uncharted peaks is Dark Defender. Earlier this week, the same strategist claimed that XRP could soar to $18.22 if it breaks above the $0.66 resistance level. Another imperative is for it to sustain above USD 0.3917.
What about more pullbacks?
Nevertheless, not all analysts believe that XRP is on the way up. For example, X user Cryptoinsightuk claimed that a correction to $0.46 is “increasingly likely”.
The protracted litigation between Ripple and the US Securities and Exchange Commission (SEC) could be another factor that could constrain asset valuations in the coming months. Recall that regulators recently appealed Judge Torres’ 2023 ruling that ruled that the company’s sales of XRP to retail investors on virtual currency exchanges did not violate securities laws. I want it.
This move postpones the formal resolution of the case, adds new uncertainty, and begins a new phase of the prosecution and explanation process.
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