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A prominent market watcher argues that XRP could witness nearly eight-fold gains if Bitcoin reaches $115K or Ethereum hits $8,000.
The crypto market turned bullish last week when Bitcoin surged past a four-week high of $64,000. This renewed optimism was reflected in the global crypto market cap, which rose from just over $2.01 trillion to more than $2.21 trillion today. In other words, the crypto market has seen over $200 billion inflow within a week.
Amid this booming market, analysts are revising their outlooks for prominent cryptocurrencies, projecting promising futures for assets like XRP as market sentiment strengthens.
One well-known trader, “Altcoin Moe,” has recently updated his forecasts for several assets. In a recent post on X, Moe shared his price predictions for XRP and 27 other cryptocurrencies.
Bitcoin to $115K and Ethereum to $8,000
Expectedly, Bitcoin led the pack, with the trader noting he anticipates an all-time high for Bitcoin at the $115,000 price point. At the time of reporting, Bitcoin is just $63,193. Reaching the $115K target would require the premier cryptocurrency to grow further by 81% in this ongoing bull market.
Meanwhile, as for the altcoin king Ethereum, the trader expects even better price returns for investors. Specifically, Moe projected Ethereum could reach a price of $8,000 in this bull run. This would amount to a return of over 210% from its current price of $2,573.
Notably, he stressed that these targets for Bitcoin and Ethereum are realistic projections for this bull run. While this trader has outlined promising outlooks for Bitcoin and Ethereum, he is proposing an even better future for top altcoins like XRP in this.
Projected XRP Price When Bitcoin Hits $115K, Ethereum $8K
Trader Moe noted that the realistic target for XRP in this season is $5. XRP is worth around $0.5908 as of today. This $5 outlook translates to a massive ROI of 745% from current prices.
Essentially, Moe anticipates that as Bitcoin rallies by 81% to a new ATH at $115K, XRP would see more commendable growth, seeing near eight-fold price gains.
It is worth noting that in the last bull run, Bitcoin registered a cumulative growth of 721%. XRP largely experienced a similar growth trajectory, registering a 942% gain when its bull run encountered resistance at $1.96.
While this gain is commendable, XRP enthusiasts believe XRP would have performed even better, save for the SEC lawsuit at the time, which scared many away from XRP.
However, this lawsuit has ended, and the popular belief is that XRP will see explosive growth once again, similar to 2017.
Additionally, Moe is bullish on other top altcoins, including Chainlink (LINK), with a target of $125, Binance Coin (BNB) at $1,000, and Avalanche (AVAX), which he expects to reach $300.