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CrediBULL, a widely followed technical analyst, has suggested that XRP could reach a $1.2 trillion market cap as the ongoing bull run progresses into the new year.
The seasoned analyst made this prediction in a recent commentary on X, discussing the short-term fluctuations observed in XRP’s price.
For context, XRP surged nearly 500% in recent weeks, particularly between mid-November and early December. However, the asset’s bullish momentum lost steam after XRP reached a price of $2.87. Specifically, XRP has struggled around the $2 mark over the past two weeks, even dipping to $1.90 at one point before recovering.
Commenting on XRP’s recent price action, CrediBULL advised non-traders to “zoom out” and focus on the bigger picture. He emphasized that XRP’s structure looks exceptionally clean and bullish from the current position, describing it as “insane.”
The analyst urged holders to ignore the short-term fluctuations, calling them mere “noise” for non-traders. He reassured them that the broader market outlook is “incredibly and unequivocally bullish.”
XRP to $1.2T Market Cap by Early 2025
CrediBULL referenced a historical XRP chart, pointing out that the asset is largely in a long-term uptrend and is now undergoing a brief consolidation. He believes a breakout from this consolidation is inevitable, in line with past patterns.
Notably, the chart CrediBULL shared depicted XRP’s potential path through 2025, suggesting the possibility of reaching as high as $22 in the first quarter. Currently, XRP is trading at $2.39, with a market cap of $137 billion.
Reaching $22 would require an additional 820% increase from its current level, boosting XRP’s market cap to $1.26 trillion.
When asked to confirm this projection, especially regarding the first-quarter timeline, CrediBULL responded affirmatively. However, he noted that the timeline could extend into the second quarter of 2025.
Clarifying the Insight from the Chart
Meanwhile, he also cautioned that, as with all charts, the time and price aren’t shown in exact proportion. He advised taking things step by step, noting that this chart is meant to illustrate how early XRP is in the context of a larger, higher-timeframe impulsive structure.
Additionally, another commenter asked for CrediBULL’s thoughts on potential triggers for XRP’s price beyond the chart, such as the upcoming RLUSD stablecoin and lower interest rates.
CrediBULL responded that it’s impossible to know the exact driving force behind the price action. He agreed that multiple factors could influence buying behavior but explained that it’s too difficult to quantify the effect of each fundamental catalyst.
Therefore, it’s best to focus on the chart and the unfolding structure. According to CrediBULL, the specific causes of the price movement don’t matter as much as the broader market structure.