XRP price has recorded marginal gains today and held its $2.15 support as the broader crypto market stayed in the green. Amid this, a top analyst revealed that Ripple’s coin may have already hit its bottom. However, he also highlighted some key conditions that the crypto must attain to confirm the bottom.
Meanwhile, another expert has also shared key insights and mathematical calculations, which showed how Ripple’s native crypto might hit the $15 ahead.
XRP Price Holds $2.15 Support: Has It Already Bottomed Out?
XRP price has added around 0.23% during writing and exchanged hands at $2.15, while its one-day volume fell 25% to $2.99 billion. Notably, the crypto’s current market cap stood at $125.33 billion and the token has touched a 24-hour high of $2.18.
Besides, CoinGlass data showed that XRP Futures Open Interest also rose 0.5%, reflecting renewed market confidence. Amid this, renowned analyst EGRAG CRYPTO suggests that XRP might have already hit its bottom on April 7. However, the analyst outlines some key conditions to confirm this trend reversal.
XRP Really Bottomed?
According to the pundit, Ripple’s coin must close a weekly full-body candle above $2.10, the 21-week EMA, and notably above $2.25. If these conditions are met, it would strongly confirm the bottoming out of XRP price. However, failure to achieve these conditions may lead to other market narratives emerging, the expert noted.
Source: EGRAG CRYPTO, X
Meanwhile, despite the soaring discussions, another expert recently hinted that the crypto might hit $15, citing XRP ETF inflow as the key factor.
Ripple’s Coin To Hit $15? ETF Inflow Calculation Shows
In a recent analysis, market expert Zach Rector made a bold prediction that XRP price could reach $15 and beyond, driven by anticipated inflows from Exchange-Traded Funds (ETFs). According to Rector, JPMorgan’s estimate of $4 to $8 billion inflows into XRP ETFs in the first year could trigger a significant price surge.
A Closer Look Into The Calculation
Using his market cap multiplier model, Rector calculated that a conservative $4 billion inflow could lead to a 200x multiplier, resulting in an $800 billion increase in XRP’s market cap. Adding this to the current market cap of $125 billion would take the total market cap to $925 billion. With a circulating supply of 60 billion XRP tokens, this would translate to a price of $15.42 per token.
Rector’s analysis is based on the market cap multiplier theory, which measures how inflows can amplify an asset’s valuation. He cited a recent example where XRP’s market cap grew by $7.74 billion in just eight hours, fueled by a mere $12.87 million in inflows, resulting in a 601x multiplier.
While Rector’s prediction seems ambitious, industry leaders are growing more confident about the prospect of an XRP ETF. Ripple CEO has predicted that at least one XRP ETF could launch in the second half of 2025. If Rector’s analysis is correct, the anticipated ETF inflows could trigger a significant rally for XRP price, making $15 a realistic target.
Meanwhile, this also comes as Ripple’s coin continues to witness an influx, outshining BTC, ETH, SOL, and others. A recent report showed that XRP defied the broader market trend last week when the broader digital assets space noted an outflux of over $790 million.
Additionally, a recent Ripple price analysis also showed that the XRP ETF launch, among other factors, could trigger a short-term surge to $5.5 for the crypto. However, investors should exercise caution and conduct their own research before making any investment decisions.
But, this prediction seems to have sparked interest in the crypto community, with many eagerly awaiting the potential launch of XRP ETFs in 2025.
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