ZyCrypto
2025-03-16 15:41:28

Crypto Trader Sets $20 Target For XRP, What’s Next For Altcoins?

A crypto trader has projected a massive XRP price uptick after the White House Crypto Summit. Altcoins suffered over the weekend, extending long-term losses above double-digits. While the bear phase tightens its grip on traders, bulls expect a reversal by April. Total assets outflows hit 4.5% in the last 24 hours, while the market cap plunged to $2.7 trillion. XRP To 10x In Projected Rebound Crypto trader Egrag Crypto wrote on X that XRP price is expected to bounce 10X alongside other altcoins. According to this view, a wider market upswing would be characterized by heightened whale volumes to hit such levels. At press time, XRP price stands at $2.21, falling 1% today. A 10X upward swing will spur the asset over $20, taking its market cap to unprecedented highs. This projection is a far stretch to many, as the asset has yet to break $4 this cycle. Last year, XRP became an institutional favorite, breaking the $3 mark for the first time in two years. The asset plunged below $1 for months after the Securities and Exchange Commission (SEC) filed a lawsuit against Ripple and its two executives for allegedly offering unregistered securities. Massive institutional interest sparked the rebound as bulls cited clear rules and global partnerships. At the moment, similar sentiments are at play with the formulation of the crypto task force in the United States. The group, among others, will help usher in clear rules setting the tone for more investment. Following Donald Trump’s inauguration, XRP bulls maintained a greedy approach before the market dip. Analysts Marzell say XRP could pick up gains before the next bull run. “XRP has formed a descending channel pattern on the daily timeframe after consolidating between $2.00-$3.00. This continuation pattern suggests accumulation before the next leg up. A bounce from the current support at $2.12 could drive the price toward targets at $2.32, $2.61, $2.90, and $3.35.” What’s Next For Altcoins? Egrag Crypto also pointed to altcoin inflows as traders find more confidence. This can be seen in recent whale holdings with large holders buying the dip. Last week, Ethereum whales added over 400,000 assets, transferring a larger number off exchanges. XRP and Solana dropped 14% and 17% in the past seven days before recent inflows. While altcoins are yet to record Q4 2024 successes , traders are keen on a recovery ahead of a rebound.