XRP Has a Possible Path to $28 This Cycle, Analyst Suggests

Summary:
XRP, the cryptocurrency, has the potential to reach $28 during this cycle, according to analyst Will Taylor from CryptoInsightUK. He bases this proposition on the market's behavior and perceptions, particularly how capital from traditional markets could flow into crypto assets.

Key Takeaways

Analyst Will Taylor predicts XRP could hit $28 in this cycle, depending on market conditions.
He believes total crypto market capitalization might reach around $10 trillion.
Bitcoin's dominance is a key factor, with potential declines allowing more investment in altcoins like XRP.
Taylor’s primary target for XRP is between $8 to $12, with $28 as a less likely, high-end scenario.
The market structure of XRP, along with favorable U.S. policy, could enhance its growth potential.

XRP news

Could XRP Reach $28 This Cycle?

According to Taylor, XRP’s prospects hinge on the total crypto market capitalization potentially reaching $10 trillion, a plateau that aligns with historical trends. He emphasizes that the crucial factor is Bitcoin’s market dominance during this period.

He suggests that Bitcoin could see its dominance drop between 31.5 percent and 35.3 percent. In this environment, Bitcoin’s market cap might range from $3 trillion to $4 trillion, potentially facilitating around $6 trillion in investments directed towards altcoins. This scenario sets the stage for his XRP price forecasts, indicating it's part of a broader view on altcoin growth, rather than just a prediction focused solely on XRP.

Taylor also referenced a conversation with trader Credible Crypto, highlighting how upward price targets can form when liquidity and investor sentiment align. He noted, “My pinned post on X highlights how XRP could reach $26 if the market conditions are favorable,” suggesting that the current market sentiment feels promising.

He revealed that XRP constitutes a large majority of his personal investment portfolio—around 90 percent—acknowledging this as a potential bias. “I will likely take profits if XRP rises between $8 and $13,” he stated. His ultimate target extends to $28, based on a technical analysis of XRP’s prolonged period of price stagnation and potential investor behaviors.

The Case for XRP

Taylor argues that XRP's market behavior is distinct from many large-cap altcoins, as it has endured an extended phase of price compression and is positioned for a breakout. He believes XRP has maintained significant support levels even as it transitions out of an eight-year trend.

Moreover, he sees a positive regulatory environment in the United States as a possible catalyst for growth, citing factors like the ongoing discussions around U.S. corporate regulations, the "U.S. Clarity Act," and Ripple's operational presence in the U.S. as reasons why a higher price target is feasible during a bullish market.

However, Taylor is clear that the $28 price point is not his main expectation. “To be very clear, this is not my primary target,” he stated. “My main target has consistently been between $8 and $12, with the possibility of extending to $15 or $16. The push to $28 represents a scenario that is less probable.”

As of the last update, XRP was trading at $1.86.

XRP price chart
XRP remains under key resistance levels, as reflected in this one-week chart | Source: XRPUSDT on TradingView.com