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According to market analysis, XRP It could be close to a major price explosion. Experts believe that the next altcoin season could rise from 10x to a staggering 500x.
Two important charts by famous market analyst Kevin Cage on XRP’s relationship with Bitcoin’s outperformance in past bull markets form the basis of this positive prediction.
Last 2 times $XRP pumping
It was during the previous two alternate seasons when #Bitcoin He would draw the higher peaks first.
2017: Over 500x (over 300x with monthly candle bodies)
2021: 10x (while filing lawsuits and delisting)
Will history stand still or will the future be different? pic.twitter.com/V8nb9yh8qR
– Kevin Cage (@Kevin_Cage_) October 16, 2024
Recently, financial analyst Gary Cardone sparked excitement within the XRP community with a cryptic tweet suggesting a potential “launch” of the cryptocurrency.
Historically, Bitcoin’s market dominance has greatly impacted the performance of altcoins, such as XRP. When Bitcoin’s dominance declines, altcoins are often confronted Significant increases.
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We are waiting…. I have confirmed with the authorities that they are ready to meet you, and this was the message;
XRP- Launchpad: Green…….
Moving forward with launch codes…..
repeats:
Launchpad is green for XRP.
XRP may be released.
General Barnaby Anochobium https://t.co/JB2BMQDoHs
– Gary Cardone (@GaryCardone) October 15, 2024
This trend was evident in previous altcoin seasons, as XRP boomed when Bitcoin’s market dominance waned. Proponents like Zach Rector assert that XRP is poised for a major breakthrough, reinforcing the belief that the future of the token may be promising.
Historical performance indicates potential
Cage focuses on two crucial eras in XRP’s history. During the 2017 bull market, XRP rose more than 500-fold, rising from $0.006 to $3.50 by early 2018. This increase occurred because Bitcoin dominance It decreased from 95.91% to 35.46%. Altcoins including XRP rose significantly when Bitcoin fell, seizing the opportunity to shine.
Despite being delisted from several exchanges and facing legal challenges from the US Securities and Exchange Commission, XRP achieved a staggering 10x increase in value during the 2021 bull run.
It rose from $0.18 to $1.96 with a similar decline in Bitcoin’s lead, which fell from 73.51% to 39.54%. These historical examples show a clear trend: XRP typically outperforms when Bitcoin declines.
Altcoins: Market Dynamics
Currently, Bitcoin dominance is around 58%, having increased recently. If its dominance starts to wane again, based on previous cycles, XRP may be ready for another Huge price rise.
The price of the coin could rise tenfold, which could push XRP above $5. This shows that altcoin seasons are still a big reason for token price changes.
Although these predictions are receiving a lot of attention, it is still unclear how much XRP will rise. Things like the current lawsuits against Ripple could change the way the market works.
the Latest SEC Call In its case against Ripple, it makes matters more complicated. It makes the legal battle last longer and makes investors less confident about what will happen.
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Societal discourse and speculation
The XRP community is full of speculation. Cardone’s tweet while using military imagery suggests some kind of upcoming development for XRP. It appears that some community members took it as good news.
XRP supporters, such as Zach Rector, interpreted Garry’s tweet as an indication of the altcoin’s growing recognition. “Gary is jumping on board the XRP train,” he noted.
Featured image from HTX, chart from TradingView