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According to market analysis XRP could almost see a significant price increase. The next altcoin season could range from 10x to an astonishing 500x, experts believe.
Two key charts from noted market analyst Kevin Cage on XRP’s relationship to Bitcoin’s supremacy in previous bull markets form the basis of this favorable prediction.
The last 2 times $XRP Pumped
Was during the previous 2 Alt Seasons then #Bitcoin first drew higher highs.
2017: over 500x (over 300x with monthly candle bodies)
2021: 10x (during lawsuits and delistings)
Will history rhyme or will the future be different?… pic.twitter.com/V8nb9yh8qR
— Kevin Cage (@Kevin_Cage_) October 16, 2024
Recently, financial analyst Gary Cardone generated excitement within the XRP community with a cryptic tweet suggesting a possible “launch” of the cryptocurrency.
Historically, Bitcoin’s market dominance has significantly affected the performance of altcoins such as XRP. When Bitcoin’s dominance declines, altcoins often experience problems significant increases.
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We are waiting… I have confirmed with the authorities that they are ready for you, this was the message;
XRP LAUNCH PATH IS: Green…….
Continue with launch codes…..
Repeat:
The launch pad is the green light for XRP.
XRP can be launched.
General Barnaby Anushopium https://t.co/JB2BMQDoHs
— Gary Cardone (@GaryCardone) October 15, 2024
This trend was evident in previous altcoin seasons, when XRP flourished as Bitcoin’s market dominance waned. Proponents like Zach Rector argue that XRP is poised for a substantial breakout, reinforcing the belief that the token’s future could be promising.
Historical performance indicates potential
Cage highlights two pivotal eras in XRP’s history. During the 2017 bull market, XRP rose more than 500 times, from $0.006 to $3.50 in early 2018. This surge occurred when Bitcoin’s dominance decreased from 95.91% to 35.46%. Altcoins, including XRP, rose significantly as Bitcoin fell and took the opportunity to shine.
Although XRP was delisted from multiple exchanges and faced legal challenges from the US SEC, XRP had an incredible 10x increase in value during the 2021 bull run.
It rose from $0.18 to $1.96 with a corresponding drop in Bitcoin supremacy, which fell from 73.51% to 39.54%. These historical examples show a clear trend: XRP typically excels when Bitcoin falls.
Altcoin: market dynamics
Currently, Bitcoin’s dominance is around 58%, having increased recently. Should XRP’s dominance start to wane again as per previous cycles, then XRP could be primed for another one significant price increase.
A tenfold increase is possible, which would push XRP above $5. This shows that altcoin seasons are still a major reason for the token’s price changes.
While these predictions are getting a lot of attention, it is still not clear how much XRP will rise. Things like the current lawsuits against Ripple could change the way the market works.
The SEC’s recent appeal in the case against Ripple complicates matters. It makes the legal battle last longer and makes investors less sure of what will happen.
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Community discourse and speculation
The XRP community is full of speculation. Cardone’s tweet, made while using military imagery, hinted at some sort of upcoming development for XRP. Some community members seemed to see it as good news.
Supporters of XRP, such as Zach Rector, interpreted Garry’s tweet as an indication of the altcoin’s growing recognition. “Gary is jumping aboard the XRP train,” he noted.
Featured image of HTX, chart from TradingView