"XRP Price Forecast: Expert Predicts $22 Target, Eyeing $1 Trillion Market Cap Despite Current Downtrend"

XRP, along with much of the cryptocurrency market, has recently faced a mild slump, reflecting a broader market trend despite Bitcoin four-day streak of positive movement. While XRP has declined 1.2% in value today, Bitcoin minimal decrease of 0.16% keeps it firmly above the $72,300 mark.

The gap between the performances of XRP and Bitcoin has become pronounced, especially as XRP 30-day performance has dropped over 18% compared to Bitcoin 14% increase. XRP peaked at $0.5303 earlier in the week but fell to $0.5187, while Bitcoin climbed as high as $73,500

Ambitious Price Target: $22 for XRP

Crypto analysts predict that XRP could reach an impressive $22 this cycle. Notably, Oscar Ramos, a prominent community figure, projects XRP market cap could surge from its current $30 billion to $1.25 trillion. If XRP reaches $22 per token, its fully diluted market cap could climb to approximately $2.2 trillion—surpassing Bitcoin current $1.43 trillion.

Ramos’ forecast aligns with similar views by Ben Armstrong, also known as “BitBoy,” who recently suggested that XRP has the potential to rival Ethereum and emerge as Bitcoin primary competitor. Armstrong’s view is that as XRP gains value, Ethereum market cap might decrease rather than grow, potentially positioning XRP as a top contender alongside Bitcoin.

Key Drivers for XRP Growth

Several industry developments could bolster XRP growth. Ripple, the company behind XRP, uses the token for global payments, making it essential for cross-border transactions. In addition, XRP supporters are optimistic about potential exchange-traded funds (ETFs) specific to XRP, inspired by Bitcoin success in this area. Over a million BTC units, worth more than $73 billion, have been purchased through Bitcoin funds in the U.S. alone this year, signaling that similar demand could arise if XRP-focused funds are introduced.

XRP also recently launched RLUSD on its blockchain, which adds a stablecoin pegged to the U.S. dollar, potentially increasing XRP utility in the blockchain ecosystem.

XRP Challenges on the Path to $22

Despite the optimistic outlook, XRP journey to $22 will be challenging. Reaching this ambitious price would require a growth rate of 4147% from its current $0.5180. This year, XRP performance has already shown a 15% decline, and the token has plummeted over 83% since its all-time high.

While some analysts point to XRP impressive seven-year history of sharp upward moves, others caution that historical trends may no longer be reliable indicators in today’s dynamic market