The post XRP makes $1 comeback, but why $2 might be wishful thinking appeared on BitcoinEthereumNews.com.

XRP has shown impressive fundamentals driving its gains, reclaiming the $1 target after three years. However, its future ascent to $2 will depend on how it navigates both internal and external factors. The past week has been overwhelmingly bullish for Ripple [XRP], as it shattered expectations and surged back to the $1 mark – a milestone it hasn’t touched in over three years. After months of consolidation, XRP has made an impressive comeback, proving its resilience. But now comes the real test. A perfect storm of internal and external factors has fueled this rally, not only pushing XRP past the $1 level but also propelling it into the sixth spot, overtaking Dogecoin [DOGE] with a market cap that has surged more than 10% to $60.45 billion. So, the big question is: Can XRP keep climbing and target the $2 mark next, or is this rally too ambitious, with a lot of variables still in play? Memecoins could be the unexpected roadblock  Typically, Bitcoin’s [BTC] consolidation has been a key moment for alternative assets to gain traction, as investors rebalance their portfolios and redistribute risk. Like previous trends, the weekly gainers list is dominated by both low and high-cap assets. Interestingly, six out of the top 10 are meme-based tokens. This suggests that despite XRP’s impressive 80% surge this past week, it hasn’t claimed the top spot, as the top 3 memecoins still lead. The top performer alone has posted a four-digit weekly gain, adding fuel to the narrative of a potential ‘supercycle’ in the making. Memecoins, therefore, are emerging as a significant challenge to XRP’s rally. Recently, DOGE, the largest memecoin, overtook XRP in market cap to reclaim the sixth spot. Though Ripple has regained its position after an impressive rally, the fact that DOGE could flip it again adds…

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Filed under: News - @ November 18, 2024 3:03 am