XRP market share rebound to 15% could see a 252% increase, price target set at $8

Source: DigitalToday Original Title: XRP could rise 252% if market share recovers to 15%… Expected to surpass $8 Original Link:

Amid the recent downward trend in the cryptocurrency market, the global total market capitalization has plummeted sharply, and XRP has also been affected. Since the peak of $4.27 trillion on October 6, the market has lost $1.05 trillion, dropping to $3.22 trillion. XRP’s total market capitalization also decreased by $40.87 billion, shrinking to about $13.7 billion.

According to blockchain media reports, if XRP captures a 15% share of the global market, its price could rise to $8. Currently, XRP’s market share is 4.25%, which is lower than the July high of 5.528%, but it reached as high as 31.3% back in 2017.

Given the current cryptocurrency market size of $3.22 trillion, if XRP were to achieve a 15% share, its total market cap is expected to increase to $483 billion. This would mean XRP’s price would rise from $2.27 to $8, signaling a rapid 252% increase.

Market analysts are also looking at XRP’s long-term growth potential. Some analysts, using Elliott Wave Theory, predict XRP could rise to $8, and others mention the possibility of breaking through $8 by the end of this year. The market is closely watching to see if XRP can once again form a strong upward trend.