XRP Approaches Historic $200 Billion Market Cap
XRP is nearing a $200 billion market capitalization milestone, demonstrating strong performance against both Bitcoin and Ethereum in July. This upward trend coincides with increased trader interest in altcoins during what’s known as ‘altseason‘.
Technical Analysis Points to Continued Growth
Market analysts observe that XRP‘s current trajectory could push its market cap beyond $200 billion, potentially reaching $250 billion. The cryptocurrency has already grown 71.75% in market capitalization over the past month, reaching $193.10 billion.
Altseason Momentum Fuels XRP’s Rise
The ongoing altseason reflects a broader market shift, with traders moving capital from Bitcoin to altcoins like XRP and Ethereum. Both have shown significant gains against Bitcoin this month.
Long-Term Projections for XRP
Technical indicators, including Fibonacci extension levels and breakout patterns, suggest XRP could achieve a $258 billion market cap by year-end. This projection is supported by increasing large-volume transactions and positive technical formations.
