According to the analyst, XRP could emerge as this cryptocurrency. He predicts that XRP's dominance may drive the market capitalization up to $1.56 trillion, which corresponds to a price of $27.2.
Currently, XRP's dominance stands at 3.93%, but EGRAG believes it will increase. XRP has already surpassed the Fibonacci level of 0.382 and is moving towards 0.5 at 5.57%. Breaking through this level could pave the way for market dominance.
Ripple's CEO, Brad Garlinghouse, had forecasted a cryptocurrency market capitalization of $5 trillion by the end of 2024, but market corrections have pushed this timeline back.
At present, the total cryptocurrency market capitalization is $3.41 trillion, leaving ample room for growth. EGRAG believes this figure could peak at $5.42 trillion (Fib. 1.414) or even reach $7.25 trillion (Fib. 1.618), with XRP accounting for a significant portion of this figure.