XRP to Overtake BTC and ETH Crypto Analyst Points to $1.5 Trillion Market Cap

One crypto analyst on X shared on Wednesday an investment thesis that sees the market cap of XRP surging to as much as $1.56 trillion if the token’s dominance continues to scale up in the following months.

Egrar Crypto, a technical analyst whose X account is followed by nearly 70,000 fans people, emphasized that Ripple could deliver much higher gains than Bitcoin (BTC) or Ethereum (ETH) during this stage of the bull market.

He first shared an assessment of how XRP’s dominance has been evolving lately, moving from as little as 1% to over 5% in the past four years, primarily as a result of the legal victory that Ripple had in its case against the United States Securities and Exchange Commission (SEC).

He went on to predict that a break above the 0.5 Fibonacci level – typically interpreted as a bullish signal – could propel XRP’s dominance to 11.44%.

Given that the combined value of cryptocurrencies currently stands at $3.28 trillion, that would mean XRP’s market value could be propelled to $375 million on short notice if that scenario unfolds as Egrar Crypto expects.

This would result in 3X gains for XRP holders based on the token’s current market cap. However, Egrar predicts that the total market cap of cryptos could surge to $5.42 trillion once alt-coin season starts, meaning that reaching the 11.44% dominance level would mean a total market cap of $620 billion or 5X gains for XRP investors.

Although past performance is not a guarantee of future outcomes, the trend for XRP dominance is currently on an upward path. If its ascent continues, these are plausible targets that could be reached in the medium term.

XRP at $4 Before Year End is a Real Possibility

From a technical standpoint, the $4 area is a feasible target that XRP could reach once the market shakes off the latest pullback and late buyers enter the scene to add more fuel to the rally.

The post-election uptick that the crypto market experienced is interpreted by analysts as the first wave in what could be a prolonged climb for digital assets as multiple tailwinds including Donald Trump’s victory in the November U.S. presidential election and the Federal Reserve’s commitment to keep lowering rates are favoring higher prices for risky assets like cryptos.

XRP has been the most favored asset of this rally of all the top 10 cryptocurrencies as it experienced a 253% uptick since a court of law ruled in favor of the company in its long-standing legal rift against the SEC.

The robustness of the XRP network and the active involvement of its C-level officers along with a strong community of die-hard backers who have accompanied the project despite the many challenges it has faced could make XRP become a powerhouse in the cross-border payments, decentralized finance (DeFi), and smart contracts segments.

The launch of the stablecoin RLUSD is a step forward for the project to keep expanding its reach.

During the latest pullback, XRP has found support at around $1.95 per token. This is the most critical area to watch moving forward. As long as it holds, it could serve as a launching pad once alt-season kicks in.

The short-term target of $4 seems attainable and this would result in XRP doubling its market cap. However, the target shared by Egrar Crypto provides a longer-term view of the potential of this cryptocurrency to keep expanding its footprint in the crypto market.

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