XRP is one of the few cryptos that has been in the spotlight for the past few months as many traders wait patiently for XRP to finally go on a massive bull run.
This has been particularly evident, with XRP being one of the most traded cryptocurrencies this year, surpassing cryptos like Solana and Litecoin. According to one crypto analyst, the next all-time high might be farther than expected, and investors have to wait a little longer- like another five years.
Expert Predicts XRP May Not Reach New ATH For 5 Years
According to one expert, XRP holders may need to be patient for the next few years. A crypto analyst who goes by ERGAG on social media platform X (formerly known as Twitter) recently stated that based on XRP’s historical data, it could take up to five years for the digital asset to reach a new all-time high.
According to EGRAG, a new financial crisis eclipsing the 2008 financial crisis, which gave birth to Bitcoin, is on the horizon, and XRP is the perfect candidate to reshape the financial landscape. However, this could take a while. ERGAG comes to this claim by sharing a peculiar metric that reveals a 3.16X the duration of the previous cycle before the next all-time high.
#xrp be patient
I am looking at the daily here for #xrp. I do think if we see the yellow line (20EMA) get above the green line (200EMA) that we’ll see at least $1.31 for #xrp without losing the low from which it came.
Can you be patient? pic.twitter.com/gRuYyWu9Kw
— CoinsKid (@Coins_Kid) September 21, 2023
To provide perspective, EGRAG analyzes past peaks of XRP and compares them to the intervals between them. He highlights that the 2013 high aligns with the 2018 peak, and that of 2014 corresponds with the 2021 peak of $3.84.
Applying this 3.16 factor to the current cycle would see the next all-time high in July 2028, a staggering 2630 days from the peak of 2014. ERGAG, however, fails to mention the price range for this new all-time high.
XRP market cap currently at $27.19 billion. Chart: TradingView.com
Closer Look Of XRP’s Future
The euphoria behind Ripple’s partial victory in court against the SEC has fully subsided. However, a price rally to a new ATH for XRP is definitely possible before the next five years, and it may be prudent to manage expectations.
ERGAG had initially predicted a new bullish run starting between the end of 2023 and the second half of 2024. CoinsKid, another crypto analyst, has made a similar bullish prediction on the price of XRP on social media. The analyst predicted an XRP price of $1.31, representing a 157% increase.
#xrp be patient
I am looking at the daily here for #xrp. I do think if we see the yellow line (20EMA) get above the green line (200EMA) that we’ll see at least $1.31 for #xrp without losing the low from which it came.
Can you be patient? pic.twitter.com/gRuYyWu9Kw
— CoinsKid (@Coins_Kid) September 21, 2023
At the time of writing, XRP is trading at $0.5097. The crypto asset hasn’t seen much action in terms of bullish price movement and is down by 0.32% in the past month.
Featured image from iStock
Source: https://bitcoinist.com/crypto-analyst-points-out-how-long-it-will-take-for-xrp-price-to-hit-new-ath/