Analyst Alex Cobb believes the next XRP price pump could turn heads across the Bitcoin community, potentially challenging BTC’s dominance.
He shared this perspective amid a mixed crypto market marked by bearish sentiment, while XRP continues to hold firm above key support levels despite recent pullbacks.
Notably, his comments followed market watcher Charting Guy’s analysis of a monthly XRP chart featuring key Fibonacci levels. The chart shows XRP hovering around the 0.888 retracement level near $2.44.
The coin is currently sitting above a powerful support zone between $1.61 and $1.70, an area previously tested during the early 2021 rally. The analysis suggests that XRP remains structurally bullish. “XRP is NOT bearish in the slightest,” Charting Guy wrote.
In other words, XRP is merely undergoing a natural consolidation phase before a potential breakout above $3.31. If that move plays out, the next Fibonacci extension levels suggest XRP could target price levels of $8.29, $13.38, and $26.63 as bullish momentum accelerates.
With XRP trading at $2.50 today, these price projections imply a potential 3x to 11x return on investment for XRP holders. Notably, a $26.63 price would give XRP a market cap of approximately $1.6 trillion.
“Bitcoiners Will Be Worried”
Given the bullish outlook, Alex Cobb remarked that XRP’s next pump will make Bitcoin holders nervous about their top spot.
Cobb’s comment suggests that XRP could challenge Bitcoin to become the number one cryptocurrency globally, a prospect many in the XRP community are eager to see. However, as of today, XRP and Bitcoin remain far apart, with over a $2 trillion market cap gap between them.
Bitcoin currently boasts a market cap of $2.24 trillion, while XRP is under $150 billion. Despite being the fifth-largest cryptocurrency, XRP held the third position just a few weeks ago. Now, it faces more competition with its market cap at approximately $149 billion.
The Journey Ahead: Before XRP Can Overtake Bitcoin
XRP must first surpass BNB, which currently leads by around $15 billion, and then USDT, which holds over a $30 billion lead. While XRP has achieved this in the past, reaching a peak market cap of $210 billion, its main challenge lies in overtaking Ethereum, which sits near the half-trillion mark.
To catch up with Ethereum’s current position, XRP would need to surge 3x to around $8. Any further increase in ETH’s price would widen the gap even more.
While Cobb maintains that XRP could overtake Ethereum, other XRP bulls like Charting Guy have previously expressed skepticism about such a flippening, noting that Ethereum is also displaying strong bullish signals.
In sum, XRP has a long road ahead, not only to catch up with Ethereum but even more so to challenge Bitcoin’s dominance.
Hypothetically, XRP would need to rise by 1,396% to around $38, assuming Bitcoin’s price remains static, to overtake it in market cap.
While many XRP enthusiasts envision a future where XRP becomes the top crypto, few expect it to happen in the short term.
Some, like Tradeship University founder, have given a 2030 timeline for such a flippening. Meanwhile, others believe Bitcoin could reach $1 million by then, which would further reduce XRP’s chances of taking the lead.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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