rewrite this content using a minimum of 1000 words and keep HTML tags
Following its historical surge from $0.5 to over $3, the XRP price has remained in the spotlight, climbing alongside Bitcoin (BTC) and other leading cryptocurrencies. Given its past bullish performance, many forecasts anticipate a strong upward trend for this cryptocurrency. One particular prediction by a crypto analyst boldly suggests that the altcoin could flip Bitcoin’s market cap during this bull cycle.
XRP To Overtake Bitcoin As Dominance Collapses
Axel Rodd, a TradingView crypto analyst, has reignited speculation about XRP potentially flipping Bitcoin, citing the major breakdown in BTC’s Dominance and the early signs of an altcoin resurgence. According to his analysis, the structure of the altcoin’s market currently mirrors conditions last seen in late 2017, when it briefly overtook Bitcoin to become the most valuable cryptocurrency by market capitalization.
The latest Bitcoin Dominance (BTC.D) weekly chart reveals a steep plunge from 63% to 15%, a move the analyst describes as a “violent shift” in market structure. This move typically suggests an upcoming altcoin season, when capital rotates out of BTC into altcoins like XRP, ETH, and others.
The recent dominance breakdown is projected to serve as a springboard for XRP’s explosive growth, potentially pushing it past Bitcoin in market capitalization. Rodd predicts that this historical shift is expected to take place around September, particularly with fresh all-time highs in sight.
The analyst’s confidence in his forecast is strengthened by past performance so far in this bull cycle. He noted that the cryptocurrency has already flirted with a new ATH this year, signaling strong underlying momentum.
Macroeconomic Factors To Fuel The Altcoin Overtake Of BTC
During his technical analysis, Rodd highlighted a complex mix of macroeconomic and geopolitical catalysts that could play a key role in fueling XRP’s growth and potential to flip Bitcoin. He mentioned speculation surrounding Donald Trump‘s second Presidency and Europe’s new zero-tariff stance.
The TradingView analyst argues that Trump’s economic trolling on a grander scale could destabilize traditional markets, potentially opening the door for alternative assets like XRP to shine. Furthermore, he points to the Tether (USDT) stablecoin as an unstoppable force in this cycle. With its high minting capacity and dominant market presence, Rodd notes that it could surpass Ethereum in market cap soon.
The analyst has presented a scenario in which the asset not only overtakes Bitcoin but Tether as well in market cap. If this happens, the asset’s current market cap of $106.46 billion could exceed Bitcoin’s $1.53 trillion by 1,335% and Tether’s $143.9 billion by 35.18%
Moreover, some analysts have drawn parallels between a surge in market capitalization and a corresponding rise in price. If this holds true, XRP’s market cap growth could serve as a significant catalyst for a price surge. Despite the current downtrend, XRP is trading at $1.82, showing a modest price increase from weekly lows.
Featured image from iStock, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this
Source link
