The post XRP Price Prediction: Will It Reach $0.9 Amidst Market Momentum? appeared first on Coinpedia Fintech News
Remember when XRP soared 60,000% in 12 months, from $0.006 to $3.84? That was pure speculation! Now, with stronger partnerships and real-world utility, the potential is staggering. Is XRP About to Skyrocket to $0.9 Next? Crypto assets got an excellent kick-off in November on a positive note as the market has recorded a stable rise in value. Further, the 5th largest crypto, Ripple Lab’s XRP price, has displayed a significant uptrend in its chart, gaining approximately 16% in value within the past week.
The Ripple Swell 2023, a two-day event inaugurated Yesterday, has created a market frenzy for XRP. This is expected to benefit XRP, as participants will come together and discuss the intricacies of payments and digital currencies.
XRP Price Predictions, With Whooping $997B Market Cap
With a lot going around Ripple, XRP is taking all the cream and showing strong resilience to hit the projected figure of $0.9. XRP is currently trading at $0.6933. EGRAG’s technical factors suggest a potential bullish scenario. It came to light because of XRP’s market capitalization, potentially reaching an all-time high of $997 billion. This would correspond to a price rally propelling XRP to around $18 per coin.
#XRP Market Cap $1 Trillion: Just the Beginning!:
In the wake of #XRP 's previous parabolic ascent, where it skyrocketed by a staggering 100,000%, the current surge of 7% might seem like a mere drop in the ocean. However, let's take a closer look.
Unlike the last… pic.twitter.com/jYD3gzoEFu
— EGRAG CRYPTO (@egragcrypto) November 8, 2023
Historically, its market cap was $110.5 million in January 2017, indicating poor valuation. After falling to $0.0030 that month, the cryptocurrency rebounded. An all-time high of $3.3170 followed in January 2018. Market cap rose 140,140% to $128.4 billion. XRP dropped to $4.9 billion in March 2020 and rose to $89.3 billion in April 2021.
If XRP has historically been good, a forecasted $18 number requires more than an 800% growth; only an IPO miracle can do that if Ripple wants to capture the early takers.
Current XRP Position Reveals January Rally?
XRP holds the fifth position among cryptocurrencies, with a market cap of $37.2 billion. EGRAG’s forecast suggests the possibility of a substantial market cap surge and a significant price rally for XRP. This projection is based on the idea that XRP could recreate the rally it experienced from January 2017 to January 2018, albeit at a slower pace, roughly 7% of the previous appreciation rate.
The starting point for this potential surge was in June 2023, when XRP’s market cap hit $13.87 billion. If XRP’s market cap does increase by a substantial 7,070% from this low point, it could reach a remarkable $997 billion in market cap, translating to an XRP price of $18.6. While this prediction is ambitious, especially in cryptocurrencies, it underscores the potential for significant growth in XRP’s value.
#PriceAnalysis #Ripple(XRP) [Source: Coinpedia]