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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
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Experts Say XRP No Longer Flipping Ethereum This Cycle
The initially strong outlook of XRP flipping Ethereum this cycle is gradually taking a back seat as the gap XRP needs to close continues to widen.
Some prominent market commentators who loudly called for the XRP flippening are now backtracking on that view. This comes as Ethereum (ETH) stages a streak of strong green candles without subsiding, while XRP remains largely idle.
“That’s No Longer the Case”
However, Charting Guy, in his latest commentary, says this outlook is “no longer the case.”
He disclosed that he re-invested in ETH in April near the bottom, and it has shown immense strength since. Today, ETH is trading just 10% away from its all-time high.
Notably, ETH touched $4,678 today. Considering its $1,380 price in April, that’s a massive 239% gain so far. At press time, ETH is only 5.11% below its all-time high of $4,891, trading at $4,633.
Its market cap is now $559 billion compared to XRP’s $191 billion. This means the gap between the two is now over $368 billion. Meanwhile, as of July 13, the gap between XRP and ETH was less than $200 billion.
While ETH has pumped by 52% in the last four weeks, Charting Guy sees Ethereum progressing further. However, for XRP, he noted that it probably has only a 2.5x max left from its current position.
Trading at $3.22, a 2.5x increase would give XRP a price of about $8 with a potential valuation of $477 billion, which would still be below Ethereum’s current market cap. Considering ETH may not stay idle while XRP surges 2.5x, the gap could widen even further.
Hold XRP and ETH
Considering this, Charting Guy warned market participants against listening to XRP “moon boys” calling for lofty prices for XRP while disregarding ETH. He urged investors to instead own both assets to be better positioned than to be a maxi.
He stressed that ETH’s outperformance and strength were overdue, as it has largely lagged behind Bitcoin this season.
Steep Climb for XRP to Overtake Ethereum
Prominent XRP advocate Bill Morgan agrees with Charting Guy’s view that XRP may not flip ETH this cycle. Morgan stated the widely anticipated flippening will not occur this cycle—maybe some other season
Among popular outlooks for ETH this season are prices above $10,000. According to Fundstrat CIO Tom Lee, Ethereum could reach $16,000 this cycle with a market cap of $1.92 trillion. Meanwhile, Carl Moon suggests ETH may hit $25,000, leading to a market cap of $3 trillion.
On the other hand, popular “realistic” forecasts for XRP suggest prices between $10 and $20, which would give it a market cap just above $1.1 trillion.