XRP Approaches $200 Billion Market Cap Amid Strong July Performance

According to Cointelegraph, XRP is on the brink of achieving a significant milestone by nearing a $200 billion market capitalization for the first time. This development comes as Bitcoin shows signs of consolidation after reaching new record highs. Over the past month, XRP has experienced a remarkable surge, with its market cap increasing by 71.75% to reach $193.10 billion, just $2.18 billion shy of its record high from six months ago. This growth is mirrored in the XRP price against Bitcoin, with the XRP/BTC pair rising over 35% in July. Ether, the second-largest cryptocurrency by market cap, has also seen a notable increase of over 25% against Bitcoin during the same period. The gains in XRP and Ether contribute to the ongoing "altseason" narrative, where traders shift capital from Bitcoin to altcoins in pursuit of higher returns. In the past 24 hours, Bitcoin has fluctuated between intraday profits and losses, while both Ether and XRP have risen by over 8%, indicating a growing preference for top-cap altcoins among traders. Analysts are optimistic about XRP's continued rally, with expectations of it reaching $4 in the coming weeks, driven by increasing whale volumes and bullish technical indicators. This positive outlook suggests that XRP's market capitalization could surpass the $200 billion mark. XRP's recent breakout pattern resembles its late-2024 setup, when it entered overbought territory on the relative strength index (RSI) and maintained elevated levels for several weeks. During that period, XRP's market cap soared over 200%, peaking at around $195 billion by early 2025. The current price action shows similarities to that structure, with XRP breaking out of a multimonth descending triangle, supported by rising volume and momentum indicators. If this pattern continues, XRP's market cap could extend toward the triangle's upside target of approximately $212 billion in August. A successful push beyond this level could pave the way to the 1.618 Fibonacci extension level, potentially reaching around $258 billion, a 33% increase from current levels, by the end of the year. Readers are reminded that this article does not offer investment advice, and all trading decisions should be made based on individual research and risk assessment.