XRP is displaying signs of a price breakout, rallying by 8% over the weekend. With bulls and bears struggling near $0.50, the sixth-ranked asset has experienced a modest decoupling of +4% from the altcoin pack.
At the time of publication, XRP was changing hands at $0.50, up 4.71% in the last 24 hours, reaching a 5-week high.
What is more intriguing, though, is that over the past two days, the network saw a significant uptick in the activity of its second and third-largest addresses.
On May 28, up to 490.35K addresses interacted with the network, as shown in the chart displayed by the data platform. The network experienced the biggest increase of 871.98K addresses in March.
The last time the spike occurred was on March 18, and the price rose by more than 45% as a result. “And if history repeats itself from the March 18th activity spike, it could be more”, Santiment noted. It remains to be seen if XRP can sustain its impressive run in the long term.
On the other hand, Mason Versluis, a popular crypto podcaster and the founder of Gold Squad, remains bullish on the token.
The crypto influencer claimed in a recent tweet that the token might reach $5 in the near future.
Expert Believes XRP Will Hit $5; Here’s Why?
Versluis’ remarks were made on the fact that XRP is the only asset that has ever outperformed Ethereum in terms of market cap.
He also criticized detractors, stating it is easy to mock those who predict a $5 price target for XRP in the crypto space.
This is most likely because XRP would have to increase in value by 900% from where it is now in order to reach $5. Some investors might be unsure of the asset’s ability to rise to such heights, he noted.
Interestingly, XRP’s market cap has historically exceeded Ethereum’s multiple times starting from May 8, 2017, with the token reaching an $8.347 billion valuation and ETH reaching $8.341 billion.
As a result, it became the second-largest crypto asset. The asset repeated this feat twice again, in September 2018 and again in December 2017.