A new technical projection is circulating in the crypto market after pseudonymous analyst and XRP Ledger (XRPL) developer Bird forecast a sharp rise in the cryptocurrency’s market capitalization. The analyst predicts that the altcoin could soon reach a valuation of $300 billion, accompanied by a significant price increase from current levels.
XRP Market Cap Forecasted To Surge To $300 Billion
The most recent price action shows the market cap revisiting a long-term support zone between $100 billion and $80 billion, an area circled on the chart to emphasize its significance. Fibonacci retracement and extension levels are plotted from a price swing high to a major now, marking key levels at 0.236, 0.382, 0.5, 0.618, 0.702, 0.786, 1, and 1.618.
The 1 level aligns near the $225 billion region, while the 1.618 extension points above toward Bird’s projected $300 billion market cap. The chart illustrates a large upward green arrow extending from $88.38 billion valuation at the time of the analysis toward $300 billion, representing an increase of more than $211 billion. This suggests that Bird expects its valuation to skyrocket by more than 239%.
Price At A $300 Billion Market Cap
