Ripple Inc’s exponential growth has led to flipping a couple of competing high tech companies, including the popular Chinese mobile phone maker Xiaomi. Additionally, XRP’s current $184.22 billion market capitalization edged Citigroup, which is a publicly-traded Wall Street enterprise.
However, Citigroup, the group of professional Wall Street traders, tend to believe that the altcoin season this year is doomed. The panel of financial industry experts revealed this assumption in their latest Ethereum (ETH) price prediction, forecasting that the showpiece altcoin is going to tumble all the way to $2,200 by year-end.
How Ripple (XRP) Can Ditch Citigroup’s Bearish Thesis
As the two altcoins tend to correlate, this could serve as a bearish sign for Ripple (XRP) as well, even though the freshest positive headwinds in the legal department provide an edge for XRP. However, the Wall Street behemoth’s bearish prediction on the altcoin markets falls in line with the stupendous profit-taking happening over the past few weeks.
Noted by seasoned crypto analyst Ali Martinez, this 160 million Ripple coin (XRP) sell-off wave could mean two things. Either it’s profit taking or repositioning, as recently witnessed in the case of Coinbase customers. To decide on the motive, DailyCoin’s research team checked two crypto whale behavior-tracking devices – the Chaikin Money Flow (CMF) & Bull Bear Power (BBP).
While the CMF indicator dwelled between -0.01 & -0.06 on the 4-hour price charts, the popular remittance altcoin is retesting a key psychological threshold at $3. Meanwhile, the BBP was restructuring towards the green territory while XRP is priced at $3.03, per TradingView’s stats.
Paired with rising trading volumes, this could result in a further rebound upswing, but the current on-chain signals reflect market indecision. With network activity & cross-border utility being the strong points of XRP, most holders expect a bigger breakout in case of SEC granting any out of the 11 Ripple-based exchange-traded fund (ETF) submissions.
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People Also Ask:
In the crypto world, Ripple’s XRP has surged past Citigroup’s market cap in a epic flippening moment, showing blockchain’s muscle against traditional banking giants.
XRP’s rally is fueled by regulatory wins and adoption buzz, while Citi faces headwinds in legacy finance. It’s a tale of old vs. new money clashing in the markets.
Citigroup analysts are calling a potential dip for ETH, which is likely to spread across major-cap altcoins, citing overbought signals and macro pressures.
Sure, short-term volatility is crypto’s middle name—expect some whale dumps if resistance holds. But XRP’s utility in cross-border payments keeps the bulls diamond-handed.
Not really, as flips like this scream adoption! Diversify, watch support levels around the $3 psychological threshold, and treat the dip forecast as just another rug-pull scare tactic.
