Ripple\u2019s XRP made headlines throughout the past few days, charting massive gains day after day and ultimately achieving a new all-time high earlier in the week (it\u2019s debatable but most market participants agree).<\/p>\n
The popular altcoin managed to take over Tether\u2019s USDT stablecoin for the spot of the third-largest cryptocurrency, currently sitting on a market capitalization of around $208 billion.<\/p>\n
Now, analysts are racing to predict its next move as social media chatter is peaking.<\/p>\n
John Squire, a well-known XRP proponent and a frequent price commentator, spotted a supposedly similar structure in the cryptocurrency\u2019s trading chart on the bi-weekly time frame.<\/p>\n
According to him, some 36 weeks ago, the altcoin followed a similar structure and increased by a factor of 6x.<\/p>\n
If history rhymes, we might be in for another rocket. \u2013 said Squire.<\/p>\n
<\/a>Source: X<\/a><\/p>\n Is it realistic, though, and what would it take? Well, the first and most obvious requirement would be for XRP to achieve a market cap of around $1.2 trillion (given no new tokens float) \u2013 around three times that of Ethereum.<\/p>\n On top of that, there would have to be constant buy-side liquidity to the tune of hundreds of millions, if not billions of dollars at current levels of market liquidity. Just for example, a 2% move in XRP\u2019s price would require unmatched buying worth over $12 million on Binance, which accounts for around 14% of XRP\u2019s total trading volume.<\/p>\n In reality, XRP\u2019s volume is down 15% over the past 24 hours and the cryptocurrency is seemingly consolidating for the past couple of days.<\/p>\n As\u00a0CryptoPotati\u00a0<\/em>reported<\/a>, Thumzup Media Corporation \u2013 a Nasdaq-listed firm, has approved a $250 million investment plan to expand its crypto holadings. It will be incorporating altcions such as XRP, ETH, SOL, DOGE, and LTC.<\/p>\n Popular analyst Lark Davis, meanwhile, seems<\/a> to be of the opinion that if XRP is able to steady its price action above $3, it could surge to $4.1 or $4.5 \u2013 or, in other words \u2013 \u201cbonkers territory.\u201d<\/p>\n The post Proponent Suggests the XRP Price Can 6x From Here, But is it Realistic?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Ripple\u2019s XRP made headlines throughout the past few days, charting massive gains day after day and ultimately achieving a new all-time high earlier in the week (it\u2019s debatable but most market participants agree). The popular altcoin managed to take over Tether\u2019s USDT stablecoin for the spot of the third-largest cryptocurrency, currently sitting on a market […]<\/p>\n","protected":false},"author":0,"featured_media":82327,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-82326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/82326"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=82326"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/82326\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/82327"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=82326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=82326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=82326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}XRP Prepares For Another Move?<\/h2>\n
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