Although XRP has already broken past this price point to register a new peak of $3.65 this cycle, it is still closing below its previous peak. According to the analyst, this means that the breakout to new highs has not been confirmed. The accompanying chart reinforces this view, showing a consolidation just below the old ATH, with an arrow pointing to where the bull run begins.
If realized, this would represent more than a 1,130% increase from today’s price levels. Based on XRP’s current circulating supply, this would translate to a market cap of over $2.4 trillion. To put this into perspective, Bitcoin’s current market cap is currently about $2.2 trillion.
At the time of writing, XRP is trading at $2.92, down by 2.7% in the past 24 hours.
