XRP price could benefit tremendously as a well-known analyst predicts the total crypto market cap to hit tens of trillions.
Notably, crypto analysts have consistently presented bold forecasts for the market, and one of the biggest comes from Dark Defender, who believes the total crypto market cap could climb to an astonishing $23.26 trillion.
Data from his chart confirms why he believes this, with historical context bolstering the optimism. The chart first highlights the downturn in 2018, when crypto endured a painful bear cycle. Notably, the total crypto market cap dropped to a bottom of $91 billion by December 2018.
Total Crypto Market on a 5-Wave Structure
Interestingly, from January 2019, the market started to recover, kicking off a powerful rally that peaked in 2021 amid the bull run. Specifically, this run pushed the total crypto market cap to $3.01 trillion by November 2021, coinciding with Bitcoin’s all-time high at the time. Dark Defender marked this rally as the first wave in a five-wave Elliott structure.
However, after the $3 trillion peak in November 2021, the market slipped into a correction from 2022, representing Wave 2. This second wave bottomed in January 2023, when the total market cap fell to about $752 billion.
Interestingly, the market recovered to about $810 billion on Jan. 10, 2023. It was on this day that Dark Defender first presented his ambitious forecast for the crypto market. He noted that the market was on a five-wave structure that could eventually lead to $23.26 trillion, which aligns with the 161.8% Fibonacci extension.
Notably, following his prediction, the third wave began to take shape from the $810 billion low, pushing the crypto market above $3 trillion by May 2025. This month, the market cap initially climbed to $4.17 trillion, representing a 414% increase. However, it has corrected slightly since then, with a reading of $3.99 trillion at press time.
The candles now sit above the Ichimoku cloud, which signals long-term strength, and the Relative Strength Index has pushed above its moving average, pointing to renewed momentum. To reach $23.26 trillion from here, the market would need to climb another 482%. That would mark a 29-fold increase compared to the 2023 low.
XRP Price if Total Market Hits $23.26T
The chart also highlights major Fibonacci levels at $236 billion, $569 billion, $1.11 trillion, and $1.84 trillion. These levels could act as strong support zones if the market pulls back along the way. Notably, the rally to $23.26 trillion could have a positive impact on altcoins like XRP.
Particularly, at the current $3.99 trillion market cap, XRP holds a 4.52% dominance, which equals a $180 billion valuation while trading at $3.02.
If the total market cap jumped to $23 trillion and XRP held on to that same 4.52% share, its market cap would balloon to about $1.0396 trillion. Now, with around 60 billion tokens in circulation, that would give XRP a price close to $17.
Interestingly, Dark Defender has also specifically discussed XRP’s short-term prospects. With XRP now trading at $3.02, he noted that weekly resistance is breaking.
He has set price targets at $4.39 and $5.85 based on Fibonacci levels, while pointing to supports at $3.01 and $2.85. He describes the setup as one of the clearest signals yet for XRP.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
