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Market watchers argue that while XRP may continue to frustrate holders in the short term, it could be gathering momentum for a dramatic rally that will push it past its all-time high.
Currently, XRP is trading 81% below its all-time high, while Bitcoin is in a price discovery phase, regularly claiming new peaks.
Notably, Bitcoin has gained 112% year-to-date (YTD), while XRP’s growth over the same period is significantly slower, with just an 11% gain. Meanwhile, prominent altcoins like Solana and BNB have closely mirrored Bitcoin’s performance this year, each registering over 100% YTD gains.
Data shows that among the top 100 cryptocurrencies by market cap, 71 of them are outperforming XRP in terms of yearly price performance.
With such disappointing results, many have written XRP off, arguing it has no bull market potential. However, core XRP proponents continue to assert that the asset still holds significant promise.
XRP Could Rally to ATH “Within Weeks”
In a post on X, macro investor “Pharaoh” pointed out that it’s in XRP’s nature to frustrate holders with its stagnant, suppressed price action.
However, he reassured them that this pattern may persist until someday, the price suddenly surges past its all-time high within a matter of weeks.
This perspective draws parallels to XRP’s price action in 2017/2018 when the asset traded with two leading zeros but dramatically changed course towards the end of the bull cycle. For instance, as of December 11, 2017, XRP traded at $0.2365, but over the subsequent three weeks, it surged by 1,523%, reaching $3.84.
XRP enthusiasts are hoping for a similar repeat of history in the current bull run.
XRP Bull Run Already in Motion
Meanwhile, it’s important to note that XRP has already started to break free from its previous sluggish price action. This week, XRP is up over 25%, trading above the $0.70 mark for the first time in eight months.
This encouraging comeback has given market watchers and XRP enthusiasts renewed confidence that the asset’s bull market potential remains intact.
According to analyst Javon Marks, XRP’s recent bullish signals are showing early-stage results. However, he believes this could be just the beginning of a massive rally, potentially leading to new all-time highs and beyond.
On a more conservative outlook, Marks has set a target of $15 for XRP. However, in the event of a full-blown rally, where XRP repeats its historical performance, he sees the potential for the price to soar as high as $200.