Market commentator The3Antons suggests that XRP might be on the brink of surpassing Ethereum.
XRP has experienced a significant surge, showcasing a strong bullish trend. The value of XRP has soared over 59% from its July 5 low of $0.3823 to a recent high of $0.6114. This remarkable performance places it among the top gainers in the cryptocurrency market.
In the last 24 hours alone, XRP has jumped 13.36%, making it the third-largest gainer among the top 100 assets and the leading performer within the top 40. Over the past week, XRP has risen by 39%, securing its position as the second-largest weekly gainer among the top 100 assets.
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**XRP Set to Surpass Ethereum**
Market analyst The3Antons recently highlighted XRP’s outstanding performance in a post. He suggested that XRP is benefiting from a broader trend he calls the “Wealth Transfer.” As XRP outperforms the market, The3Antons pointed to his March forecast, which predicted a significant XRP rally.
In the March post, he emphasized XRP’s potential to overtake Ethereum (ETH) in market capitalization at its peak. Recall that XRP and Ethereum previously vied for the second spot on the list of largest assets by market cap. However, ETH has since surpassed XRP.
Currently, Ethereum boasts a market cap of $419.6 billion, while XRP’s valuation stands at $33.74 billion. With a circulating supply of 55.8 billion, XRP would need to exceed $7.5 to surpass Ethereum’s market cap.
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**Factors Favoring XRP’s Growth**
The3Antons referred to XRP as the “people’s coin” against corruption, highlighting its strong community support. He noted that he had been urging the investing public to invest in meme coins and AI tokens. These asset classes have since performed exceptionally well.
Now, he draws attention to XRP, an asset he emphasizes is not a meme coin or an AI token but the “people’s coin.” The analyst also pointed to the XRP community’s resilience against challenges.
He argued that the XRP community could drive significant investment into the crypto asset. According to him, this large community, combined with a potential price spike, could trigger widespread interest and media coverage, leading to a fear of missing out (FOMO) effect.
The3Antons then highlighted multiple factors that favor XRP’s growth. He pointed out that the over 4 million XRP holders represent a bullish factor for XRP. Such a large community is crucial for driving mass adoption and sustained investment.
The current market dynamics also favor XRP’s growth. Major crypto whales, including those holding Bitcoin (BTC) and Ethereum, are holding their positions, creating a stable market environment. He further highlighted a trend of limited funding from ETH and SOL whales into other projects.
**XRP Analysis Confirms Growth Potential**
The3Antons presented two XRP price charts to further support his bullish outlook. The XRP/USD chart reveals a massive descending triangle pattern that has been forming since 2016. The triangle’s apex is approaching, suggesting a potential breakout.
XRP Weekly Chart | The3Antons
Historically, XRP’s price has shown strong support at the base of this triangle, indicating that a downward breakout is less likely. Given the current bullish sentiment around XRP, an upward breakout seems plausible.
The key support level around $0.40 has held firm, preventing any significant downward movement despite various market pressures. XRP retested this support when it slumped to $0.38 on July 5. The recent price surge to $0.6114 suggests increasing investor confidence and bullish momentum.
Moreover, in the XRP/BTC chart, the price is at a crucial support level of around 0.00001025 BTC. Historically, this level has been a strong reversal point. The chart indicated that XRP may soon experience a bullish reversal against Bitcoin.
XRPBTC Chart | The3Antons
However, XRP gave up the support amid an unforeseen market downturn. Interestingly, with the recent recovery effort, XRP has outperformed Bitcoin by over 23% since July 5.
**Disclaimer:** This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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