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Crypto analyst Egra 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 will outperform Bitcoin and Ethereum
In one X messageEgrag Crypto predicted that the XRP price would outperform Bitcoin and Ethereum as he expects the market cap of XRP could reach between $619.61 billion and $1.56 trillion. With the dominance and market potential of XRP, the crypto claimed that it has a much higher multiplier than the two largest coins by market capitalization.
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Egrag Crypto went further and explained why an explosive rise in XRP price dominance is imminent. The crypto analyst noticed this The dominance of XRP is currently at 3.93% above the Fibonacci 0.382 level, and if the crypto closes above Fib 0.5 (5.57%), XRP could witness double-digit dominance.
Egrag Crypto said that the VRVP of the XRP price shows a void of over 4.30%, which means less resistance and a smoother path to a all-time high (ATH) and beyond. The analyst noted that the “Kaboom green zone” starts at Fib 0.50, which represents a big step forward for the crypto.
Egrag Crypto added that the smaller market cap of the XRP price offers greater upside potential. This means the crypto could see faster growth in dominance as it catches up with the broader altcoin rally and takes over Lion’s share. The crypto analyst highlighted three key levels to watch for XRP’s dominance.
This includes Fib 0.0702, which brings the XRP price dominance to 11.44%, and Fib 0.786 and 0.888, which brings the dominance to 15.22% and 21.5% respectively. Meanwhile, the crypto analyst predicts that the total crypto market capitalization could reach $5.42 trillion or $7.25 trillion if it reaches Fib 1.414 and Fib 1.618, respectively. This would bring XRP’s market cap to $1.16 trillion, or $1.56 trillion if the crypto reached 21.5% dominance.
A rally to ATH remains the short-term goal
Having already posted a year-to-date (YTD) gain of just over 200%, the short-term target for the XRP price is a rally to the current ATH of $3.80. Crypto analyst Javon Marks suggested that XRP could reach this goal soon, as he predicted a rally to a new ATH of $4.8.
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He noted that the XRP price is the Target $2.47 and briefly broke above it before this resistance level dropped again. However, since this represents a bull signal on a low timeframe, a move above this resistance level could be imminent, which Marks believes would pave the way for a rally to $4.8.
At the time of writing, the XRP price is trading around $2.19, down over 4% in the past 24 hours. facts from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com