Analyst: XRP Can Hit $8 to $17 if Its Market Dominance Reaches 10% to 20% of Ripple CEO’s Projected $5T

A notable market analyst sees XRP reaching new heights if it can capture 10% to 20% of the global crypto market cap projection from the Ripple CEO.

XRP’s market cap dominance has risen following the token’s recent resurgence above $1 for the first time in three years. Amid the spike to $1, XRP’s market valuation surged beyond $60 billion, allowing it to again become the sixth-largest crypto asset.

This has led to an increase in market dominance for the altcoin. Currently at 2.09%, XRP’s dominance has nearly doubled from its 1.05% low in June. 

XRP Could See Dominance Spike

Meanwhile, according to crypto analyst EGRAG, historical market data and Fibonacci-based analysis suggest that XRP could achieve more impressive dominance gains.

Calling attention to past market cycles in 2017 and 2021, EGRAG used Fibonacci levels to identify areas where XRP’s dominance could break out. The 2017 cycle marked XRP’s peak dominance during its explosive bull run, while the 2021 cycle highlighted its more recent highs. 

EGRAG identified a confluence zone around the 5.9%-6% dominance level, where two major Fibonacci levels intersect: Fib 1.0 from the 2021 cycle and Fib 0.5 from the 2017 cycle. The convergence acts as a resistance zone, and a move above this level could signal the beginning of a dominance rally.

Currently, XRP is exiting what EGRAG calls “The Shake Out,” a prolonged period of consolidation and subdued dominance. As the token moves toward the 2.5% dominance level, historical data suggests that the next major test lies at the Fib 0.5 level, roughly corresponding to 5.92% dominance. 

XRP Price Targets at 10% to 20% Market Dominance 

Closing above this threshold would invalidate bearish narratives and set the stage for a retest of higher Fibonacci levels, such as Fib 0.702 (11.61% dominance) or even Fib 1.618 (16.65% dominance). These levels align with a broader bullish case for XRP, where dominance could eventually reach a 10%-20% range.

EGRAG then called attention to the optimistic projection from Ripple CEO Brad Garlinghouse regarding the crypto market. Recall that in April, Garlinghouse predicted that the global crypto market cap could spike to $5 trillion by the end of the year. At the time, the global market cap stood at $2.58 trillion.

Interestingly, this figure has since increased to $3.1 trillion, with $1.9 trillion left to hit the $5 trillion mark. If this occurs and XRP captures 10% of this market, EGRAG points out that its price could rise to $8.77. Meanwhile, a 20% dominance would push the price to $17.54.

At press time, XRP changes hands at $1.12, down 1.06% over the past 24 hours but still performing better than most assets in the weekly timeframe. From this level, XRP would need to rally 683% to reach $8.77 and 1,466% to claim $17.54.