XRP’s Potential to Set New Milestones in the Crypto Market
XRP has shown remarkable price activity recently, nearing a significant threshold of $2.70 for the first time since February. On Monday, the digital asset surged by nearly 13%, climbing from an intraday low of $2.3515 to reach a peak of $2.6549. This recent high represents an impressive recovery of about 65% from its low of $1.61 just a month prior. The rally was notably influenced by news regarding a breakthrough in U.S.-China tariffs. At one point during the surge, XRP briefly regained its status as the third-largest cryptocurrency by market capitalization, surpassing Tether’s USDT, with a valuation of $152 billion. However, a minor correction followed, and XRP lost that position. Currently, XRP seems to be on an upward trajectory again, experiencing a 4% increase today and trading around $2.50 at the time of this report. Analysts are suggesting that if the upward trend continues, XRP could break multiple records should its price double.
XRP’s Potential to Reclaim Second Place in Crypto Rankings
A prominent figure in the cryptocurrency community, known as “The Modern Investor,” recently remarked on social media that if XRP’s price were to double, it could potentially reclaim the title of the second-largest cryptocurrency. When the tweet was made, XRP was trading at $2.60, positioned above USDT and only trailing behind Ethereum, which had a market cap of approximately $300 billion. Should XRP experience a 100% increase while Ethereum remains stable, it could re-establish itself as the largest altcoin, second only to Bitcoin, thus surpassing Ethereum’s market cap. Achieving a price of $5.20 would also mark a new all-time high for XRP, a level it last reached around seven and a half years ago when it was the second-largest cryptocurrency behind Bitcoin. At this price point, XRP’s market capitalization would rise to $304 billion, slightly exceeding that of Ethereum.
Industry Predictions for XRP’s Rise Over Ethereum
Many analysts and industry experts are predicting that XRP could surpass Ethereum in the near future. This confidence has significantly grown since late last year, as XRP’s value surged nearly sixfold, while Ethereum’s price remained relatively stagnant. Some commentators, such as Edoardo Farina, have made bold claims that XRP could overtake Ethereum within a 90-day timeframe. Additionally, the growing interest from institutional investors, with more than ten asset managers exploring XRP ETFs, has further fueled optimism regarding XRP’s potential to outperform Ethereum. Attorney John Deaton has expressed the belief that XRP is more attractive to Wall Street than many realize and predicts that XRP will surpass Ethereum by the end of this year. Furthermore, a report by WisdomTree, a $100 billion asset management firm, has identified XRP as a valuable addition to Bitcoin in investment strategies. There are even suggestions that XRP could compete with Ethereum and Solana in the decentralized finance (DeFi) sector.
Skepticism Amidst Optimism
Despite the prevailing optimism surrounding XRP, not all voices in the community share this positive outlook. In response to The Modern Investor’s predictions about XRP’s potential to overtake Ethereum, some commenters expressed skepticism, suggesting that the scenario remains speculative and contingent on various factors. Conversely, optimistic voices, such as user Cedric Beau, argue that the more XRP’s price rises, the more challenging it will be for skeptics to dismiss its potential.
Disclaimers: This content is intended for informational purposes only and should not be construed as financial advice. The opinions expressed in this article may reflect the author’s personal views and do not represent the stance of The Crypto Basic. Readers are encouraged to conduct their own research before making investment decisions. The Crypto Basic is not liable for any financial losses incurred.
