XRP News Today: XRP Surges 22% Weekly, Analysts Predict New All-Time High

XRP has recently surged past $2.61 for the second time this week, marking an impressive weekly gain of 22%. This upward trend has sparked speculation among analysts about the potential peak for the coin. CryptoWZRD, a widely followed trader, is among those offering bullish predictions. According to him, XRP is now on an “up-only” trend, steadily grinding higher. He noted that the coin held its ground during the most recent downturn, which saw a retest of the $1.60 level. With XRP now above $2.61, up 62% from that low, CryptoWZRD warned skeptics to stop fighting the trend. He asserted that a new all-time high is inevitable for XRP.

CryptoWZRD’s analysis is supported by a weekly XRP chart highlighting its historical price action since 2014. The chart shows how XRP broke out to an all-time high after a three-year consolidation between 2014 and 2017. The longer consolidation period from 2018 has now ended, and there is significant room for price levels to surpass XRP’s previous peak. Notably, CryptoWZRD’s chart indicates XRP could soar to $5.90 during this current leg, implying a 126% gain from today’s price. A $5.90 price point would place XRP’s market cap above $345 billion, higher than Ethereum’s current valuation. While this hints at the possibility of XRP flipping Ethereum, the path may be difficult, as ETH bulls have returned. The coin has surged 43% in the last seven days, double XRP’s gain.

Other market commentators are also weighing in on XRP’s breakout. Good Morning Crypto podcast host Abdullah Nassif, known as Abs, claimed that XRP’s breakout is gaining momentum and invited community members to share their price targets. The chart accompanying his tweet showed potential peaks of $8 and $27 for XRP, based on historical Fibonacci levels. These levels aligned with the 1.272 and 1.618 Fibonacci extensions, which defined XRP’s price movement during the 2017–2018 rally. Some analysts are predicting XRP’s potential in this cycle by drawing inspiration from its historical market dominance during previous peaks. For instance, trader DK64Trades stated that XRP could easily surpass $10 this year. He compared XRP’s current market dominance (~5%) to its 2018 peak (~31%) when the price reached $3.84. He believes a return to similar dominance levels could drive the price significantly higher. On the other hand, analyst Capt Toblerone projects a $1.25 trillion market cap for XRP in a full-fledged crypto bull market with a global crypto valuation of $35 trillion. Based on this valuation, XRP’s price could reach $22 per token.