Ripple's market capitalization once surpassed McDonald's, but fell back this morning.
Recently, Ripple ($XRP) has continued to rise, setting a new historical high. Yesterday (7/21), its market value even once surpassed fast-food giant McDonald's, attracting market attention.
However, according to data from Infinite Market Cap, as Ripple fell from a high of $3.64 to $3.55 this morning, the total market capitalization has turned to around $210 billion, dropping back below McDonald's (ranked 85th), now placed 86th in global asset market capitalization.
Source: Infinite Market Cap Ripple's market capitalization once surpassed McDonald's, but fell back this morning.
However, the breakthrough of Ripple's market capitalization has significant implications for the cryptocurrency market, as it suggests that capital is beginning to rotate within the market, and investors are shifting their attention from Bitcoin to other altcoins.
Cryptocurrency trading company QCP Capital also speculates whether the altcoin season has finally arrived, noting that across major data sources, the altcoin season index has broken above 50. Although it has not yet reached the level for a full-scale altcoin season, it is already the highest level since December 2024.
Further reading:
Is the altcoin season coming? Analyst: Capital is shifting from Bitcoin to Ethereum, with ETH projected to reach $10,000.
Is there hope for the future? Bloomberg analyst: Prepare for the summer of altcoin ETFs, with Solana leading the way.
Analysts are optimistic about Ripple, expecting it to rise to $20.
Currently, Ripple's price is below $4, but multiple analysts believe there is still significant upside potential for Ripple.
Cryptocurrency analyst Dom states that while Ripple has reached a historical high, several key indicators have not yet fully signaled a bull market.
He is watching the Ripple market share (XRP.D) indicator, which shows that Ripple is returning to the weekly resistance level of 5.50%, a level that has suppressed XRP.D for over 2,200 days.
Dom explains:
"In the past, whenever XRP.D breaks above current resistance, we have seen a 2x increase in the short term. If history repeats itself, once Ripple successfully breaks through, the price is expected to approach the target of $7-10, depending on the trends of other parts of the market."
Another analyst, Egrag Crypto, also stated that Ripple's market share has broken through the bullish flag pattern, predicting that the largest market share in this bull market will challenge between 21% to 27.5%.
From a long-term perspective on the monthly chart, Ripple is also attempting to break out of a bullish flag pattern, but is facing resistance at the latest historical high of $3.84.
Cryptocurrency trader XRPunkie asserts:
"Ripple will ultimately challenge the high point near $20, and this will be achieved before the end of the current bull market cycle."
He believes that if Ripple can break above the upper trend line of the flag at $2.55 at the monthly close, it will open the door to surge above $18, which is a 417% increase from the current price.
Bitcoin's rise has paused; is the altcoin season coming?
Recently, after Bitcoin ($BTC) broke through $120,000 to reach a new high, it has begun to maintain a consolidation state. Keith Alan, co-founder of the cryptocurrency trading resource platform Material Indicators, believes this is because capital is rotating from Bitcoin and stablecoins to the altcoin market.
However, well-known trader Roman is less optimistic about Bitcoin's future. From the weekly trend, both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) show signs of weakness.
Roman states:
"Bitcoin's market share is starting to decline, while altcoins are rising, further proving that market liquidity is rotating. The upward trend for Bitcoin is about to end, so buy more altcoins while you can."
QCP Capital noted that Bitcoin's market share has fallen from 64% to 60%, while Ethereum's market share has risen from 9.7% to 11.6%. If this trend continues, the next phase of the altcoin season may have already started.
This content is generated by Crypto Agent aggregating various information, reviewed and edited by Crypto City. It is still in the training phase, and there may be logical biases or information errors. The content is for reference only and should not be considered investment advice.
"Ripple's market capitalization once surpassed McDonald's! Analyst: Multiple indicators predict a surge, targeting $20" This article was first published in "Crypto City".
