XRP Set To Skyrocket: 10x To 500x Massive Gains Possible
- Susan SarandonOriginal
- 2024-10-18 16:30:15701browse
According to market data, XRP might be set to experience a huge price increase, with projections ranging from 10x to 500x during the upcoming altcoin season. This prediction is based on two charts shared by Kevin Cage, a market analyst and advisor to Iron Key Capital.
The charts show a strong relationship between Bitcoin’s dominance and XRP’s performance during previous bull markets. When Bitcoin’s market share declines, the token tends to make explosive gains.
During the 2017 bull run, XRP skyrocketed by over 500x, rising from $0.006 to $3.50 by early 2018. This surge occurred as Bitcoin’s dominance plummeted from 95.91% to 35.46%, allowing altcoins like XRP to thrive.
In the 2021 bull run, despite facing legal hurdles from the U.S. SEC and delistings on various exchanges, XRP still achieved a 10x increase, climbing from $0.18 to $1.96. This growth also aligned with a steep decline in Bitcoin’s dominance, which dropped from 73.51% to 39.54%.
These historical instances reveal a clear pattern, that is, XRP tends to perform best when Bitcoin loses ground, allowing altcoins to take center stage.
Currently, Bitcoin’s dominance sits at around 58.95%, having recently surged. However, if its dominance begins to decline again, similar to past cycles, the Ripple token could be poised for another massive price rally.
Though these projections are exciting, the magnitude of XRP’s rise remains uncertain. The market could repeat its historical behavior, but unpredictable factors such as the ongoing Ripple lawsuit may still influence the outcome.
The U.S. SEC’s recent notice of appeal in the case against Ripple adds a layer of complexity, potentially prolonging the legal battle.
Nevertheless, even under legal pressure, a 10x increase would push XRP to a new all-time high above $5, proving that altcoin seasons remain a powerful driver for the token’s price action.
The market’s next move may depend on how Bitcoin’s dominance shifts in the coming months. If history is any guide, XRP holders may be in for an exciting ride.
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