Analyst: XRP could dethrone Bitcoin in next explosive rise

The crypto market was shocked last week by the largest liquidation in its history. Many coins took a hit, and XRP was also caught up in the broader pullback. Yet some analysts see opportunities for a new revival now. But can that move be big enough to challenge Bitcoin’s (BTC) dominance?

Monthly chart shows positive pattern for XRP

According to crypto analyst Alex Cobb, the next “pump” of XRP could cause unrest in the Bitcoin community. “Bitcoiners will be worried,” he said on

Charting Guy points to the monthly chart of XRP, where the coin is around the 0.888 Fibonacci level at $2.44. According to his analysis, there is a strong support zone between $1.61 and $1.70, an area that already held during the 2021 rally. As long as XRP remains above that zone, the technical picture remains positive.

If a break above $3.31, the next Fibonacci extensions could yield price targets around $8.29, $13.38 and even $26.63. At a current price of $2.41, that would mean a potential profit of almost three to eleven times the current value.

Bitcoin remains far out of reach of XRP for the time being

A price of $26.63 would give XRP a market value of approximately $1.6 trillion. According to Cobb, this could significantly change relations within the crypto world. Currently, Bitcoin has a market cap of $2.21 trillion, while XRP hovers around $145 billion.

Before XRP comes anywhere close to Bitcoin, the coin must first pass BNB and stablecoin USDT. Then a bigger challenge awaits: Ethereum (ETH). To match ETH’s current position of around half a trillion dollars, XRP would have to rise to around $8.

Ethereum itself is also showing strong technical signals

Cobb thinks a “flipping” with Ethereum is feasible, although not all analysts share that optimism. Charting Guy points out that Ethereum is also currently showing strong technical signals.

To dethrone Bitcoin, XRP would have to rise by almost 1,400 percent to around $38, provided the Bitcoin price remains stable. The chance of this seems small for the time being, but the hope remains within the XRP community that the coming years will offer new opportunities.