Ripple’s XRP is moving around the $2.90 to $3 price range after experiencing a 2% dip on Monday. The fall in price comes after Bitcoin faced a sudden 4% flash crash late Sunday, pushing its price to $112,000. After BTC dipped, the broader cryptocurrency markets bled with leading altcoins losing nearly 3% to 10% of their value. Ethereum, Solana, Cardano, and Dogecoin are all in the red, allowing investors to take an entry position during the dips. In this article, we will highlight whether Ripple’s XRP can go 5x from here and generate massive returns for investors.
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Ripple’s XRP To Deliver 5x Returns To Investors Next?
Nothing is impossible in the cryptocurrency market, as leading altcoins and meme coins have defied all odds in the charts. From Dogecoin to Shiba Inu and even Solana and Binance coin, they’ve all outperformed market expectations, generating massive profits. However, that’s not the case for Ripple’s XRP, as a 5x return could be challenging, as it was under the purview of the SEC. The altcoin’s price was heavily influenced by legal troubles, and some investors are wary about the situation.
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For Ripple’s XRP to go 5x from here, its market cap must climb above the $900 billion level. Its market cap is currently hovering at the $178.4 billion range, and reaching $900 billion is a herculean task. Bitcoin is the only cryptocurrency that has achieved the feat and has a strong backing from retail, institutional funds, and some governments. Ethereum, despite being the second biggest cryptocurrency, has a market cap of $568 billion even after its price climbed above $4,700.
Therefore, Ripple’s XRP doing a 5x from here remains doubtful as the market dynamics don’t support the thesis. It could take longer to do a 5x if it does not receive major support from institutional investors. While institutional funds are pouring into XRP, the amount needs to go tenfold for the altcoin to turn foolproof.