The post XRP Price: First Stop $5 And Second Stop $11 If BTC And ETH Skyrocket appeared first on Coinpedia Fintech News
According to several analysts, Ripple’s XRP has been setting up a similar pattern to what was seen from 2014 to 2017, which led to a massive price increase. Furthermore, regulatory clarity in the cryptocurrency space, particularly the conclusion of the SEC’s investigation into Ethereum, also bodes well for XRP. Over the past 48 hours, there have been significant XRP transfers, totaling almost 160 million coins. These transactions coincided with a 3% price surge for XRP.
To understand XRP’s price predictions, analyst Cheeky Crypto said that it’s essential to consider Bitcoin and Ethereum as well. Bitcoin is currently priced at $61,000 with a market cap of $1.2 trillion. Predictions suggest Bitcoin could reach $500,000, making its market cap even higher.
Ethereum, priced at $3,400 with a market cap of $45 billion, is also expected to grow, especially with the upcoming spot ETFs. Some predict Ethereum could reach new heights.
XRP, with a market cap of $26.4 billion, could see major growth if Bitcoin and Ethereum reach their predicted values. The overall crypto market often moves together, so as Bitcoin and Ethereum rise, XRP is likely to follow. The SEC lawsuit has impacted XRP’s price, but its potential remains strong in the context of overall market dynamics.
According to the analyst, currently, there is potential for XRP to rise significantly, possibly reaching $5.59 to $11.26. Some might find these numbers unrealistic, given past negative sentiments and setbacks from the SEC lawsuit. If the SEC case concludes favorably for Ripple, XRP could reach new heights. He suggests that XRP’s potential could go even higher, potentially reaching $35 if the market conditions are favorable.
At the time of writing, XRP is trading in the red zone, below the crucial $0.50 levels.