Avid investors in XRP, Ripple’s popular cryptocurrency, are currently left guessing as this summer’s huge surge has completely evaporated. XRP skyrocketed in July following a positive ruling in the legal dispute with the US Securities and Exchange Commission (SEK). Despite the recent price drop, the future is for
Is a Huge XRP Surge Coming?
On July 13, Judge Analisa Torres ruled that secondary sales of XRP, i.e. through trading platforms, are not covered by US securities law. However, this gigantic victory is currently not reflected in the price. Following the ruling, XRP quickly rose from $0.47 to a high of $0.9447. However, now we are back to zero, with the price at $0.4793.
That doesn’t stop “XRP Captain,” a well-known crypto analyst with a whopping 53,800 followers bullish for the future of the popular altcoin.
On September 3, he shared a post on In his message, he outlined the comparison between a symmetrical triangle in the period 2014-2017 and the symmetrical triangle in which XRP is currently located. The current triangle started in 2018 and next year XRP could break out of this pattern.
Can you imagine the magnitude if this outbreak happens💥💥?? I won’t be surprised if #XRP Reach $100-$130 on the next bull run🚀🚀🚀. #XRP Consolidation 2014 to 2017 VS 2018 to 2024. Full throttle #XRPHolders #XRPCommunity pic.twitter.com/gm9hLiqh6M
– XRP CAPTAIN (@UniverseTwenty) September 3, 2023
In 2017, when the bull market began, All-time high of $3.84.
As a direct result of the SEC lawsuit filed in December 2020, XRP failed to reach a new high during the previous bull market. Since the price has been trading in the current triangle pattern for so long, XRP Captain is expecting a bullish breakout of absurd proportions.
Is $130 Realistic for XRP?
XRP is currently 6the the largest cryptocurrency in the industry with a market capitalization of approximately $25.5 billion. To get an idea of how realistic XRP Captain’s price prediction is, let’s look at what the market cap would be at a price of $130.
Market capitalization is calculated by multiplying the number of crypto coins in circulation by the price. For simplicity, we use the current circulating supply of 53.083 billion coins for the calculation. At a price of $130, the market capitalization would be around $6.9 trillion.
For comparison, when Bitcoin (BTC) reached its all-time high of $69,000, it had a market cap of $1.28 trillion. According to the XRP captain’s prediction, the total value of XRP would be worth more than five times the current peak value of Bitcoin.
Crazier things have happened in the crypto market, but a price of $130 in the next bull market seems very unlikely.