Analyst: “Blow-Off Top” Rocket Rally Will Send XRP to $20 and ETH to $20k. Here’s when

CrediBULL Crypto, a well-known pseudonymous crypto analyst, recently offered his insights on the future prices of Ethereum (ETH) and XRP.

Ethereum Poised for Significant Growth

CrediBULL Crypto predicts a significant price increase for Ethereum in the current market cycle. He estimates a minimum target of $10,000, with the potential to reach as high as $20,000. This ambitious prediction hinges on the assumption that Bitcoin will likely double from its previous peak of $69,000.

Read Also: If 2017 Trend Repeats, Analyst Says XRP Is Poised For 1,485% Rally to $10. Here’s when 

Historically, altcoins have often experienced even greater surges following Bitcoin’s price movements. In Ethereum’s case, a 3-4 fold increase from its prior all-time high of $4,878 would place its value within the analyst’s projected range.

CrediBULL Crypto envisions a scenario where Ethereum’s market capitalization reaches $2 trillion. While this figure may seem outlandish, he argues that such valuations might occur during a market bubble or “blow-off top” period.

“Yea remember we are talking about blow off top/bubble territory so the marketcaps WILL look outrageous, if they don’t then there is a problem lol,” he stated, highlighting the potential for extreme price movements in these situations.

The analysts suggest that Bitcoin typically reaches its peak first, followed by a rotation of capital into altcoins like Ethereum. This implies that Ethereum’s price surge would likely occur after Bitcoin reaches its peak. This capital inflow from Bitcoin would contribute to Ethereum’s price rise, making combined market cap calculations more complex than a simple addition.

XRP’s Potential Despite Regulatory Challenges

CrediBULL Crypto also offers a bullish outlook for XRP, a cryptocurrency that has faced regulatory hurdles in recent times. Despite these challenges, he predicts XRP has the potential to surpass $10, and even reach $20 or higher. This forecast is based on market cap comparisons rather than pure speculation.

He clarifies an earlier point regarding XRP’s fully diluted valuation, stating, “A $10,000 Ethereum translates to an XRP price exceeding $20.” This comparison aims to challenge negative biases surrounding XRP and show its potential for significant growth.

Currently, Bitcoin, Ethereum, and XRP trade at $65,725, $3,300, and $0.5698, respectively. These figures provide a baseline for potential price increases if the analyst’s predictions materialize.

Considering Bitcoin’s all-time high of $73,700, Ethereum’s $4,800 peak, and XRP’s record of $3.82, the analyst’s targets represent a substantial climb. However, CrediBULL Crypto believes these targets are achievable within the current market cycle.

Read Also: Here’s Why Ben Armstrong (Bitboy) Sets $7 XRP and $1,000 Solana (SOL) For 2024

Notably, the analyst previously predicted a period of price stability for Bitcoin, with potential sideways movement. He observed a balance between buying and selling pressure, preventing significant price swings. He also noted rising open interest, indicating more traders entering positions. This suggests that once Bitcoin breaks out of this stable phase, price volatility could increase significantly.

In essence, CrediBULL Crypto suggests that while Bitcoin’s price might not show immediate dramatic changes, the growing market activity points towards a future period of more pronounced price movements.

Ultimately, the analyst presents a bullish long-term outlook for Ethereum and XRP. While his predictions are ambitious and contingent on certain market conditions, they offer an interesting perspective on the potential future trajectory of these altcoins.

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