Here’s How High XRP Could Go if Its Market Cap Reaches the 4.236 Fib Level

Well-regarded analyst Kevin Cage recently projected a possible surge in XRP market cap to the same Fibonacci extension Bitcoin and Ethereum hit in 2021.

Cage’s recent analysis comes on the back of the ongoing uncertainty surrounding XRP price action. Notably, XRP has failed to overcome the $3 psychological mark despite Bitcoin (BTC) hitting a new all-time high during the latest recovery push and the rest of the market gaining considerably.

While XRP has followed the uptrend, it has done so at a slower pace, up only 3% over the past week, as opposed to Bitcoin’s 9% gain and Ethereum’s 12% upsurge within the same timeframe. Amid this divergence, Ethereum has surged to a valuation of $568.5 billion, while XRP remains under the $180 billion mark, as the gap between both assets widens further.

XRP 1M Market Cap Chart | Kevin CageWith XRP currently boasting a market cap of $178.61 billion at press time, data from the chart shows that it now trades above the 1.27 Fibonacci extension at $161.8 billion but below the next pivotal extension of 1.618 at the $204.6 billion mark. Note that XRP’s market cap surpassed Fib. 1.618 in July, when it crossed $204 billion

Today, it now trades below it, but Cage expects another run above the valuation mark. Beyond this, the next Fibonacci level is the 2 extension at $252.05 billion, which would mark a new all-time high in the XRP market cap and price. After this, the next levels are Fib. 2.618 ($328.4 billion) and Fib. 3.618 ($451.95 billion).

XRP Price at the Ultimate Market Cap Fib Target

Interestingly, Cage believes that the ultimate XRP market cap target sits at the Fibonacci 4.236 mark, which aligns with $528.29 billion. From the current market valuation of $178.61 billion, XRP needs a 195.8% increase to reach this ultimate target.

Despite the upsurge required, Cage has expressed optimism that XRP’s market cap could reach this mark. He called attention to the fact that Bitcoin and Ethereum claimed this same Fib. 4.236 level on their monthly valuation charts during the 2021 bull run.

If XRP ever claims this mark, its price would have soared to greater heights. Specifically, with XRP featuring a circulating supply of around 60 billion tokens, a market cap of $528.29 billion, aligning with Fib. 4.236, would translate to a price of $8.8 per XRP. Notably, Dark Defender, a market analyst, previously predicted a possible XRP run to the $8 level this cycle