According to market commentator The3Antons, there is a possibility that XRP could surpass Ethereum in terms of market capitalization. XRP has experienced a significant surge in value, with a 59% increase from its low of $0.3823 on July 5 to a recent peak of $0.6114. This impressive performance has positioned XRP as one of the top gainers among major cryptocurrencies.
In the past 24 hours alone, XRP has surged 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 seen a 39% increase, making it the second-largest gainer among the top 100 assets.
The3Antons suggests that XRP’s exceptional performance is part of a larger trend known as the “Wealth Transfer.” He had previously predicted a major rally for XRP in March and emphasized its potential to surpass Ethereum in terms of market capitalization. While Ethereum currently has a market cap of $419.6 billion, XRP’s valuation stands at $33.74 billion. To surpass Ethereum, XRP would need to exceed $7.5.
The3Antons also highlighted several factors that are in favor of XRP’s growth. He described XRP as the “people’s coin” against corruption and emphasized its strong community support. He believes that the large XRP community, combined with a potential price spike, could generate widespread interest and media coverage, leading to a fear of missing out (FOMO) effect.
In terms of market dynamics, The3Antons noted that major crypto whales, including those holding Bitcoin and Ethereum, are holding their positions, creating a stable market environment. He also highlighted limited funding from Ethereum and Solana whales into other projects.
To support his bullish outlook, The3Antons presented two XRP price charts. The XRP/USD chart shows a descending triangle pattern that has been forming since 2016, with the triangle’s apex approaching, suggesting a potential breakout. Historically, XRP has shown strong support at the base of this triangle, indicating that a downward breakout is less likely. Given the current bullish sentiment, an upward breakout seems plausible.
Furthermore, the XRP/BTC chart indicates that XRP is at a crucial support level against Bitcoin, suggesting a potential bullish reversal. Despite experiencing a market bloodbath, XRP has outperformed Bitcoin by over 23% since July 5.
It’s important to note that this content is informational and should not be considered financial advice. Readers are encouraged to conduct their own research before making any investment decisions.