After underperforming for the past couple of years, Ripple’s XRP has started catching attention due to significant price gains over the past three months.
XRP Market Growth
XRP's price has risen over 250% in the past three months. Some analysts believe it might reach $8 in the coming months. This potential is linked to an increase in the overall cryptocurrency market cap to $5 trillion, as predicted by the Ripple CEO.
Analysis by EGRAG
Veteran crypto trader EGRAG shared an analysis on X, noting XRP's potential in expanding its market capitalization. He expects XRP to achieve 10-20% market dominance in the crypto industry. Based on 2017 and 2021 data, his analysis notes that XRP is currently rebounding, potentially restoring its market dominance.
Public Sentiment
Current market sentiment toward XRP is quite optimistic, particularly as Bitcoin aims to reclaim its all-time highs. XRP's price has hit $2.20, an increase of 52% over the past month, highlighting investor confidence in its potential.
XRP shows impressive growth and could potentially increase its market influence in the future if positive market trends continue.
