Market Data Hints At 500x XRP Rally In Upcoming Altcoin Season

Christian Encila

9 months ago

3 mins read

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According to market analysis, XRP might be near to having a significant price blowup. The next altcoin season could go anywhere from 10x to the amazing 500x, experts believe.

Two important charts by renowned market analyst Kevin Cage on XRP’s relationship with Bitcoin’s supremacy in past bull markets form the basis of this favorable prediction.

The Last 2 Times $XRP Pumped

Was during the previous 2 Alt Seasons when #Bitcoin was drawing higher highs first.

2017: Over 500X (over 300x with Monthly Candle Bodies)

2021: 10x (During Lawsuit & Exchange Delistings)

Will history rhyme or will the future be different?… pic.twitter.com/V8nb9yh8qR

— Kevin Cage (@Kevin_Cage_) October 16, 2024

Recently, financial analyst Gary Cardone generated enthusiasm within the XRP community with a cryptic tweet suggesting a possible “launch” for the cryptocurrency.

Historically, Bitcoin’s market dominance has significantly influenced the performance of altcoins, such as XRP. When Bitcoin’s dominance declines, altcoins frequently experience significant increases.

We are waiting….I confirmed w/ authorities they are ready for you, this was the message;

XRP- LAUNCH PAD IS: Green…….

Proceed with launch codes…..

Repeat:

Launch pad is green lite for XRP.

XRP may Launch.

General Barnaby Anushopium https://t.co/JB2BMQDoHs

— Gary Cardone (@GaryCardone) October 15, 2024

This trend was apparent in previous altcoin seasons, as XRP flourished when Bitcoin’s market dominance diminished. Proponents such as Zach Rector assert that XRP is poised for a substantial breakout, bolstering the belief that the token’s future may be promising.

Historical Performance Indicates Potential

Cage emphasizes two critical epochs in XRP’s history. During the 2017 bull market, XRP surged more than 500-fold, increasing from $0.006 to $3.50 by early 2018. This increase occurred as Bitcoin’s dominance decreased from 95.91% to 35.46%. Altcoins including XRP surged significantly when Bitcoin fell, grabbing the chance to shine.

XRP market cap currently at $31 billion. Chart: TradingView.com

Though delisted from multiple exchanges and facing legal challenges from the US SEC, XRP had an incredible 10x gain in value during the 2021 bull run.

It increased from $0.18 to $1.96 with a corresponding decrease in Bitcoin’s supremacy, which fell from 73.51% to 39.54%. These historical examples demonstrate a distinct trend: XRP typically excels when Bitcoin declines.

XRP price up in the last seven days. Source: CoinMarketCap

Altcoin: Market Dynamics

Currently, Bitcoin’s dominance is approximately 58%, having recently increased. Should its dominance begin to wane once more, according to previous cycles, XRP may be poised for another substantial price surge.

A tenfold rise is possible, which would push XRP above $5. This shows that altcoin seasons are still a big reason for the token’s price changes.

Even though these predictions are getting a lot of attention, it’s still not clear how much XRP will rise. Things like the present lawsuits against Ripple could change how the market works.

The SEC’s recent appeal in its case against Ripple makes things more complicated. It makes the legal fight last longer and makes investors less sure of what will happen.

Community Discourse And Speculation

The XRP community is full of speculations. Cardone’s tweet made while using military imagery indicated some kind of upcoming development for XRP. Some members of the community seemed to take it as good news.

Supporters of XRP, such as Zach Rector, interpreted Garry’s tweet as an indication of the growing recognition of the altcoin. “Gary is hopping onboard the XRP train,” he remarked.

Featured image from HTX, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

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Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

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