In a recent captivating analysis, EGRAG CRYPTO (@egragcrypto), a notable XRP analyst, painted a bullish picture for XRP, projecting a remarkable ascent to $18 with an unprecedented market cap of almost $1 trillion.
XRP’s recent surge to a 4-month high of $0.729 has gotten many investors and enthusiasts in the crypto market speculating on what could come next for the digital asset. Data from CoinMarketCap shows XRP as the 5th largest digital asset in the market, with a market cap of $35.437 billion and trading at $0.65.
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Tracing XRP’s Journey
EGRAG CRYPTO’s insights draw from XRP’s historical market cap trajectory. From a modest $110.5 million in January 2017, XRP experienced a resilient comeback after a temporary plunge to $0.0030 that same month. In January 2018, XRP hit an all-time high of over $3, propelling its market cap to an impressive $128.4 billion.
However, the subsequent decline from this peak resulted in a substantial $33.58 billion loss in market cap. Despite fluctuations, XRP’s valuation oscillated between extremes, with a low of $4.9 billion in March 2020 and a rise to $89.3 billion in April 2021.
Insights from EGRAG CRYPTO
EGRAG CRYPTO’s recent analysis introduces the prospect of a resurgence like the 2017-2018 rally, albeit at a more conservative 7% rate.
Identifying June’s market cap low of $13.87 billion as the starting point, the analyst’s chart shows a dramatic 7,070% surge from $0.236, culminating in the $983.464 billion market cap projection, and 2,669% from the current price of $0.65. Assuming a stable circulating supply of 53.5 billion XRP, this forecast implies an estimated price of $18.6.
#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
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Putting It in Perspective
While the forecast is undoubtedly ambitious, it warrants a comparative lens within the cryptocurrency landscape. Bitcoin currently boasts a market cap of $716.066 billion, and Ethereum follows with $251.8 billion. XRP’s potential ascent to almost $1 trillion would signify uncharted territory, reflecting a substantial leap in the crypto hierarchy.
EGRAG CRYPTO’s bold prediction injects a sense of optimism into the XRP community. The volatile nature of the cryptocurrency market makes this projection a focal point for investors and enthusiasts alike.
While looking to new milestones, EGRAG CRYPTO also recently predicted a path XRP could take to $27. The crypto community eagerly awaits to see if these forecasts will materialize.
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