Recent changes in cryptocurrency market capitalization have led a prominent analyst to revise his prediction for XRP, which previously suggested the possibility of it overtaking Ethereum.
Analyst's Prediction Shift
Well-known crypto analyst Charting Guy has abandoned his prediction that XRP could surpass Ethereum in market capitalization after Ethereum significantly recovered from April by 239%, reaching a level of $4,784. "That is no longer the case," he noted this week, emphasizing changes in the market.
Ethereum's Recovery
Ethereum is currently trading at $4,736, with a market capitalization of $572 billion, creating a substantial gap with XRP, valued at $193 billion. The gap has widened sharply since it was under $200 billion in mid-July. In the last four weeks, Ethereum has gained 52%, while XRP has stagnated in growth.
Market Dynamics and Future Outlook
For XRP to match Ethereum's market position, the token needs to reach $9.30. The analyst emphasizes that this is rather unlikely, given Ethereum's sustained strength. He also recommended not to focus exclusively on a single asset but to hold positions in both tokens, reflecting the principle of diversification.
Thus, XRP no longer appears to be a likely candidate to overtake Ethereum, as recent market changes have made the competition between these cryptocurrencies more one-sided.
