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XRP Reverses CourseNew All-Time High Looks Unstoppable, Analyst Says

XRP Reverses CourseNew All-Time High Looks Unstoppable, Analyst Says
© Copyright Image: NewsBTC

XRP has pushed past $2.60 again this week, marking its second break above that level in just a few days. The token is up 17% over the last seven days as traders set their sights on the $3 mark.

Based on reports from wellknown trader CryptoWZRD, a fresh alltime high could be around the corner. But what stands behind these bullish calls, and how realistic are they?

Historical Patterns Point Higher

According To CryptoWZRD, XRPs climb follows a familiar script. He highlights two long phases of calm price actionin 20142017 and again since 2018that were each followed by big rallies.

After holding as low as $1.60 in the recent downturn, XRP is now up 60% from that trough to return to $2.47, when this article was made. His chart suggests that this leg could carry XRP past the $5.00 mark. If that plays out, the token would more than double from todays levels.

Market Cap Could Eclipse Ethereum

Based on the analysts math, a $5.90 XRP would push its market cap above $345billion. That sits just above Ethereums current $317billion valuation. Flipping ETH might feel bold, but its worth noting that ETH bulls have piled back in.

Ethereum jumped 30% over the past weeknearly twice XRPs gain. So even if XRP finds room to run, it may face stiff competition on overall market share.

Wider Community Weighs In

Other analysts compared todays roughly 5% market dominance to the 30% seen in early 2018, when XRP reached $3.84. They think a return to that share could drive the price past $10 this year.

Bull Case Versus Bigger Risks

Not Everyone is convinced that numbers tell the full story, though. Legal headwinds in the US still hang over XRP after its lawsuit with the SEC, and any setback there could send prices tumbling.

Market experts painted a superbullish scenario too, saying that if the global crypto market hits $35trillion, XRP could reach a $1.25trillion caproughly $20 per coin. Thats a 750% jump from $2.60. But even seasoned investors know that giant leaps rarely happen without sharp pullbacks along the way.

At this stage, traders have a clear choice. They can chase XRP as it tests new ground, or they can wait for a pause or pullback before jumping in. The tokens recent strength is real, but the road to fresh highs could be bumpy. Whether its $5.80 or even $20, odds are the journey will be anything but straight.

Featured image from The Market Periodical, chart from TradingView

Read more: https://www.newsbtc.com/altcoin/xrp-reverses-course-new-all-time-high-looks-unstoppable-analyst-says/

Text source: NewsBTC

Disclaimer: Financial information and news are not financial advice, read the disclaimer.
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