The native token of the Ripple ecosystem, XRP, has gained bullish momentum as the crypto community discusses another price rally.

XRP has seen a 7.5% increase in the past 24 hours, making it the top gainer among the leading 100 cryptocurrencies. Currently trading at $0.643, this level was last seen in early April. XRP’s market cap has surpassed $36 billion, with a daily trading volume of $2.9 billion.

Tony Severino, a veteran crypto trader and analyst, highlighted the XRP Bollinger Bands, suggesting a potential price rally or a “mega breakout” for XRP. The last time these bands reached this level was in 2018, when XRP’s price surged by 60,000%.

Despite the excitement, another 60,000% increase in XRP’s price seems unrealistic at this point. In January 2018, XRP’s market capitalization reached roughly $130 billion, marking 600x growth over one year. It became the second-largest cryptocurrency at that time, surpassing Ethereum’s $110 billion market cap.

With a current market cap of $36 billion, another 600x surge in XRP’s market cap in the short term appears improbable, especially considering the volatile conditions of the broader cryptocurrency market.

According to data from Santiment, 87.32% of the XRP supply is in profit, a level last seen in late March when the token traded around $0.635. This could lead to an increase in investors taking profits before a potential price correction.

Data shows that whale activity has increased amid the XRP price hike. The number of whale transactions worth at least $100,000 rose from 526 to 811 unique transactions over the past 24 hours.

Moreover, the XRP Relative Strength Index (RSI) is at the 69 mark, indicating that the asset is currently overbought. This suggests a price correction due to short-term profit-taking is likely.

A recent price forecast from a crypto swap platform predicted that the XRP price could potentially surpass the $500 mark by 2050. For 2025, the asset’s price is expected to reach a maximum of $1.18.

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