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Altcoin Season To Push XRP 10x-500x

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Oct 18, 2024 am 12:20 AM

xrp Altcoin Season Analysts Predictions 10x-500x Surge

The Ripple token is one of the best cryptos, and despite its struggles, investors are still focusing on this crypto.

Altcoin Season To Push XRP 10x-500x

Investors are eagerly awaiting an altcoin season as Bitcoin’s gains momentum in the crypto market. While a select few cryptocurrencies are experiencing a surge, XRP, among others, still awaits a bullish push to propel it out of the downturn. However, in anticipation of "Uptober," the Ripple token has also seen a slight uptick, potentially setting the stage for new highs.

Altcoin Season May Drive XRP 10x-500x

Despite its challenges, the Ripple token remains a favorite among investors, largely due to the possibility of a long-awaited rally that could drive its value to new highs, enabling many to recoup their losses. Notably, a market analyst and Iron Key Capital advisor, Kevin Cage, anticipates the altcoin season could propel the native Ripple token by 10-500x.

In a recent X post, Cage shared two charts to support his crypto prediction, highlighting that the last two times the market witnessed a XRP price rally was during the alt seasons—and more significantly, when Bitcoin was drawing a higher high first. 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.

Last 2 Times $XRP Pumped

Was during the previous 2 Alt Seasons

when #Bitcoin was drawing higher highs first.

2017: Over 500X (over 300x with Monthly Candle Bodies)

2021: 10x (During Lawsuit & Exchange Delistings)

Will history rhyme or will the future be different?… pic.twitter.com/V8nb9yh8qR

— Kevin Cage (@Kevin_Cage_) October 16, 2024

To elaborate, during 2017, the Ripple price surged from $0.006 to $0.350, achieving an over 500x rally. 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 reason being 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

XRP Price May Hit $278

Kevin Cage’s X post also suggests an upcoming altcoin season that could drive the Ripple token to new highs like it did in the 2017 and 2021 cycles. If considered, the price can range between $5.5 to $278 based on 10x-500x possibility. However, as this token has suffered heavy losses for years, currently trading at $0.556, there is uncertainty as to how the candles will play on the charts. Moreover, with its peak performance at $3.84, the anticipation around $278 is too big for now. Not to forget, the Bitcoin price is rising, strengthening its dominance. However, if the Ripple Vs SEC lawsuit ends in the blockchain service provider’s favor, such a goal might become achievable, as this is the only limiting factor for this token.

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