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Crypto analyst Egrag Crypto has boldly predicted that the XRP price will outperform Bitcoin and Ethereum. The analyst provided an in-depth analysis showing that XRP has a much higher multiplier than BTC and ETH.
XRP Price To Outperform Bitcoin And Ethereum
In an X post, Egrag Crypto predicted that the XRP price would outperform Bitcoin and Ethereum as he envisages XRP’s market cap could reach between $619.61 billion and $1.56 trillion. With XRP’s dominance and market potential, the crypto asserted that it has a much higher multiplier than the two largest coins by market cap.
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Egrag Crypto went further to explain why an explosive surge in the XRP price’s dominance is imminent. The crypto analyst noted that XRP’s dominance is currently at 3.93% above the Fibonacci 0.382 level, and if the crypto closes above Fib 0.5 (5.57%), then XRP could witness a double-digit dominance ahead.
Egrag Crypto mentioned that the XRP price’s VRVP is showing a void above 4.30%, meaning less resistance and a smoother road to an all-time high (ATH) and beyond. The analyst remarked that the “Kaboom green zone” starts at Fib 0.50, signaling a big move ahead for the crypto.
Egrag Crypto added that the XRP price’s smaller market cap offers higher upside potential. This means the crypto could enjoy faster dominance growth as it catches up with the broader altcoin rally and takes Lion’s share. The crypto analyst highlighted three key levels to watch for XRP’s dominance.
This includes Fib 0.0702, which puts the XRP price’s dominance at 11.44%, and Fib 0.786 and 0.888, which puts the dominance at 15.22% and 21.5%, respectively. Meanwhile, the crypto analyst predicts that the total crypto market cap could hit $5.42 trillion or $7.25 trillion if it reaches Fib 1.414 and Fib 1.618, respectively. This would put XRP’s market cap at $1.16 trillion or $1.56 trillion if the crypto hits a 21.5% dominance.
A Rally To ATH Remains The Short-Term Target
Having already enjoyed a year-to-date (YTD) gain of just over 200%, the short-term target for the XRP price is a rally to its current ATH of $3.80. Crypto analyst Javon Marks suggested that XRP could soon reach this target as he predicted a rally to a new ATH of $4.8.
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He noted that the XRP price touched the $2.47 target and broke above it briefly before dropping this resistance level again. However, with this representing a low time-frame bull signal, movement above this resistance level could be imminent, which Marks predicted would pave the way for a rally to $4.8.
At the time of writing, the XRP price is trading at around $2.19, down over 4% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
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