- XRP is expected to retrace in the short term but rally to a new all-time high of $4.4 in the long term, according to a popular analyst.
- XRP recently cooled off after significant gains and is currently down 10% on the week, losing its third spot in market cap to Tether.
- The analyst remains highly bullish on XRP’s long-term potential, believing it will bounce off the $2.25 support and skyrocket to over $250 billion in market cap.
The cryptocurrency market is an ever-evolving landscape filled with triumphs and trials. At the forefront of this terrain is Ripple’s native token, XRP. Despite its recent struggles, XRP’s future appears bright according to market analysts.
Current Market Position of XRP
The tug-of-war for the third position in terms of market capitalization continues between XRP and Tether. The late bloomer, XRP, burst into the limelight following the decisive victory of Trump in the US presidential elections. The asset, at one point, registered a staggering 420 percent increase on a monthly scale. This led it to a multi-year peak of almost $3, stealing the limelight entirely.
However, the party was short-lived. XRP’s momentum faded, and it began a gradual decline, with the token currently standing at an 11 percent weekly decline, struggling to reclaim the $2.4 mark. This led to XRP conceding its third spot in terms of market capitalization to Tether.
Expert Predictions: Short-Term Pain, Long-Term Gain
Market analyst Ali predicts a further decline in the short term for XRP. But, despite the predicted decline, the strategist maintains an optimistic outlook for XRP’s long-term potential. Ali expects XRP to bounce back from the $2.25 support level and soar to a new all-time high of $4.4. This would catapult its market cap to over $250 billion.
Ali’s optimistic projections for XRP’s future include a conservative target of $8.4 and a more audacious one of $48.12. Given these optimistic predictions, one can’t help but speculate if XRP has the potential to surpass Ethereum (ETH) in terms of market capitalization.
Conclusion
Despite the short-term pain, XRP is forecasted to experience a long-term rally. The current trials may be a precursor to imminent triumphs. Only time will tell if these optimistic predictions will materialize, and if XRP can outdo Ethereum in the race for market cap supremacy.
