Cryptocurrency, XRP the third most popular token by market capitalization, has, once again, taken the spotlight as it soared. From where it was about $0.50 a week ago, XRP which is now trading in traders’ platform at $2.50 per coin, has appreciated by 470% in just weeks.
This influx has taken the market cap of Ripple to an astonishing $143 billion making it ranked after only Bitcoin (BTC) and Ethereum (ETH).
The rally gets XRP to the vicinity of its record high at $3.75 that it touched early in January last year. People interested in the token and people doubting its potential are still observing the token extremely closely because it just keeps proving everyone wrong.
Can XRP Challenge Ethereum or Bitcoin? Speculation Grows as Price Rises
Crypto analyst DonAlt, a popular trader in the industry, seems to think that the bottom isn’t in just yet for XRP. In a recent post in the X channel, DonAlt publicly suggested that there may be another upswing for XRP a second round.
Still, as paradoxical as it might sound, XRP could be preparing for another run, DonAlt wrote, sharing an incredible run of the coin in the past few weeks. While optimism and confidence in Ripple continue to mount, more and more traders and investors are beginning to wonder how high the token can possibly go.
That is definitely quite speculative but could it eventually threaten Ethereum’s market cap? Or even Bitcoin’s? Of course, such narratives might seem rather fanciful at the moment, but the current trajectory of Ripple opened the door to even such visions.
Although, many people have had negative things to say about it, XRP has stood as one of the oldest cryptocurrencies in the market. Its recent performance did not show the expectations for the growth of the market to be stable and predictable but prove that the cryptocurrency remains engaging.
Whether this current price surge will extend in the long-run or not marks the course for XRP. The one thing that remains evident at the very least though is that XRP has bumped the conversation and interest in this area back to the foreground.
With the market continuing to battle on its search for a new form, traders and investors are keenly waiting to see whether Ripple will one more time pull a rabbit out of its hat or not, and maintain, or improve on its position in the new cryptocurrency order.
