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Altcoin Moe projects that Cardano and XRP could surpass their previous all-time high records if Ethereum reaches a target of $8,000 in this bull season.
The relief rally across the broader crypto market has reignited investors’ hopes of an imminent bull run. Currently, the global crypto market cap, led by Bitcoin (BTC) and Ethereum (ETH), is up 2.24% in 24 hours to $2.17 trillion.
Given the slight relief rally in the market, some experts have updated their price forecasts for top crypto assets, like ETH, Cardano (ADA), and XRP (XRP).
Ethereum’s $8,000 Target
Altcoin Moe, a pseudonymous crypto expert with a trading history dating back to 2014, is among those who recently updated their price targets for the bull run.
Altcoin Moe set their realistic price target for BTC and ETH at $115,000 and $8,000, respectively. The expert projects that the two leading assets by market cap could hit the targets in this season’s bull run.
Here are my realistic price targets for this #crypto bullrun:$BTC – $115,000$ETH – $8000$INJ – $150$LINK – $125$BRETT – $1.5$PAAL – $1$BNB – $1,000$TAO – $750$XRP – $5$ARB – $7$SUI – $7$LTC – $150$AVAX – $300$PORTAL – $20$OMNI – $1000$SOL – $600$ADA – $4$DOT -…
— Altcoin Moe (@AltcoinMoe) July 9, 2024
While the $115,000 prediction for BTC seems new, other entities had set a similar $8,000 price target for ETH. In particular, Standard Chartered researcher Geoff Kendrick forecasted that ETH might trade at $8,000 by the end of this year.
Since Bitcoin and Ethereum price actions significantly impact altcoins’ performance, Moe projected that XRP and ADA would also witness significant rallies in the upcoming bull run.
XRP to Hit $5
Last month, Moe projected that XRP would rally 600% to $3.3 in the bull season. However, in the updated prediction, the veteran trader set XRP’s price target for the bull run at $5. Reaching this target from the current price of $0.4392 requires a 1,038% surge.
Moreover, the $5 target represents a 30.2% increase from XRP’s previous all-time high of $3.84, registered on January 4, 2018. Besides Moe, other top crypto experts, such as World of Charts and Ash Crypto, believe that XRP could surge to $5 in this bull season.
Moe Sets $4 Target for Cardano
Furthermore, the trader suggested Cardano could be worth $4 per token if ETH hits the coveted target of $8,000. It bears mentioning that Cardano must surge 937.88% from the current price of $0.3854 to reach the $4 target, eventually setting a new ATH.
This also reflects a 29.03% increase from the previous ATH record set on September 2, 2021. While Moe believes Cardano could trade at the $4 target this bull season, analysts from Changelly do not expect the coin to hit the target before June 2030, approximately six years from now.
Meanwhile, XRP and Cardano’s correlation with ETH is insufficient to propel their prices to $5 and $4, respectively. Both assets also require other major updates that could potentially pave the way for such rallies.
For instance, a favorable ruling for Ripple in the SEC lawsuit could serve as a major catalyst for an increase in the price of XRP. Also, the upcoming Cardano’s Chang Hard Fork could play a similar role for ADA.