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Recent data has shown what the XRP price would be if it flips Ethereum’s market cap. Such a development would also lead to a new all-time high (ATH)for XRP. Meanwhile, crypto experts have given their opinions on whether XRP could indeed flip Ethereum. How High The XRP Price Would Be If It Flips Ethereum’s Market Cap
MarketCapOf datashows that the XRP price could reach as high as $3.94 if it flips Ethereum’s market cap. This is significant as a rally to this price level would mark a new ATH for the asset. Flipping ETH’s market capalso means that XRP will become the second largest crypto by market cap. Related Reading XRP Price Continuation After Crash Below $2.4? New Targets Emerge 2 weeks ago
The XRP price is already on the heels of the Ethereum price. It currently occupies the number four spot with a market cap of $135 billion while ETH boasts a market cap of $227 billion. Crypto analyst Egrag Cryptohad previously predicted that the altcoin will flip ETH in this market cycle. In a recent X post, the analyst suggested that it will still likely happen.
He asserted that the XRP price’s dominance is exhibiting “tremendous strength” as it is on the verge of closing above the 2021 high of 6%, surpassing Fib 0.5. The analyst added that a close above that level would be super bullish since Fib 0.5 is a critical level. Egrag Crypto predicts that the altcoin could surge straight to Fib 0.888 if it successfully closes above 0.5. He noted that this would align with the highs from 2015.
The analyst stated that this prediction for the XRP price isn’t just speculation. He seems confident in this prediction because of the asset’s utility. While Egrag Crypto believes XRP could flip Ethereum, crypto expert Ansem argues that XRP can never flip Ethereumbecause its use cases cannot be compared to ETH’s, which boasts a robust ecosystem. The $2 Support Level In The Spotlight
Crypto analyst Ali Martinezhas again highlighted the importance of the $2 support level. He noted that the price is shaping up a head-and-shoulders pattern on the weekly chart, which spotlights the $2 support level, as holding this price level is crucial. His accompanying chart showed that XRP could drop to as low as $1.2 if it loses this support. Source: Ali Martinez on X
Crypto analyst Dark Defenderalso highlighted $2.04 and $2.22 as the critical support levels for the asset. He suggested that it was important for XRP to hold above these price levels as it eyes a rally to the upside targets at $4.2932 and $5.8563. A rally to as high as $5 could see it flip Ethereum, especially if the latter continues to underperform. Related Reading XRP Price Eyes 40% Gains, Analyst Reveals The ‘Best Level’ To Buy And Hold 1 month ago
At the time of writing, the XRP price is trading at around $2.3, down over 2% in the last 24 hours, according to datafrom CoinMarketCap. XRP trading at $2.3 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Medium, chart from Tradingview.com