King Karan, the founder of The Alpha Husky Club, an NFT project built on the XRP Ledger (XRPL), has expressed his bullish sentiment towards XRP. He believes the digital asset is set for a substantial price increase soon as it has been one of the top-performing coins over the past three months.
Karan highlights that the coin would experience the most significant increase in value, especially since it is closely behind most coins featured in the top 50.
Read Also: XRP Massive Pump Not Without Reason, Says BitBoy. Here are the Catalysts
XRP vs. The Top 50
Data presented by Karan reveals the performance of the top 50 cryptocurrencies. FLOKI leads the pack with a staggering 588.5% growth, followed by PEPE (490.1%), Arweave (AR) (297.5%), Fetch.ai (FET) (284.4%), and Near Protocol (NEAR) (230.8%), as well as established players like Ethereum (ETH) (72.2%), Dogecoin (DOGE) (69.5%), and Bitcoin (BTC) (68.7%).
While the broader market experienced a significant uptrend, XRP recorded a modest 6.8% growth over the past three months ranking as the 49th asset, surpassing only Monero (XMR). According to Karan, this positions XRP for a potential “pump” with room for significant growth.
Karan argues that XRP’s relative lag compared to these top performers signifies its potential for explosive growth. As other cryptocurrencies have experienced substantial price increases, XRP is primed for a significant increase in value.
In the top 50 performance over the last 90 days, $XRP is WAY behind compared to other assets.
This is why I still hold $XRP, because it will pump the hardest at last. pic.twitter.com/nT21UTPsht
— 👑 𝕂𝕚𝕟𝕘 𝕂𝕒𝕣𝕒𝕟 👑 (@KingKaranCrypto) March 13, 2024
XRP Price Target Speculations
While Karan refrained from providing a specific price target or timeline for XRP’s projected growth, other market analysts have offered their insights. Cryptobilbuwoo, a prominent analyst, previously utilized Fibonacci retracement levels to predict a potential price target of $31 for XRP based on a “cup and handle” pattern.
He also suggests a more optimistic scenario with a potential target of $51 based on a different Fibonacci extension range (3.618 to 4.236).
It is vital to note that XRP recently reached a 2024 high of $0.7442, but has undergone a slight correction since then. According to CoinMarketCap, XRP is currently priced at $0.6586 with a market capitalization of $36.901 billion. This reflects a 3.24% decrease in price over the last 24 hours and a 45% increase in trading volume to $3.4 billion.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Popular Influencer Reveals 4 Strategies That Could Pump Terra Classic (LUNC) Price. Details
King Karan’s analysis and forecasts from other analysts depict the growth potential for XRP. While past performance is not necessarily indicative of future results, XRP’s relative underperformance compared to its peers could be a precursor to a period of significant growth.
Notwithstanding, it is paramount to keep in mind that the cryptocurrency market is inherently volatile, and investors should endeavor to conduct their research before making any investment decisions.
Follow us on Twitter, Facebook, Telegram, and Google News
