XRP To Take More Five Years Before Reaching ATH Statue

XRP To Take More Five Years Before Reaching ATH Statue

The newest analysis from EGRAG has just emerged. According to EGRAG, a popular cryptocurrency influencer, on his X handle, said that the XRP could spend more than five years before it could reach a Time High (ATH). This assessment was made according to his recent observation. He has said this will be triggered by the different laws controlling the price movements.

The expert analysis also unveils a certain pattern in XRP price movement, which is described as a correction between its price duration of the price cycles and a 3.16 times price circle, with the length exceeding the cycle. EGRAG calculates that the current cycle, will last roughly 2,632 days from its high in 2014 after considering this aspect.

EGRAG’s analysis delves into XRP’s past peaks and contrasts them with the gaps between each high point. He emphasizes two significant data points: the 2013 high and the 2014 high. EGRAG claims that the price of XRP peaked in 2018 at its top, while the high in 2014 corresponds to the most current ATH attained in 2021.

EGRAG Disregard historical Trends, Hints On SEC’s Court Case

Some contributors to this trend have argued that forecasts exclusively based on historical trends could not accurately reflect a cryptocurrency’s future performance. The classification of XRP as a security has been clouded by litigation between Ripple, the firm that created it, and the U.S. Securities and Exchange Commission (SEC).

The result of this legal fight may have a huge effect on the market’s direction and XRP’s future. When making judgments about investments in the cryptocurrency market, investors and enthusiasts should consider a variety of things and consult various sources.

Explaining his methodology, EGRAG says that he multiplied 3.16 with 833 days and through the high times of 2014 and the circle’s final stage of the circle. He recommended that traders and investors wait slightly longer before a possible all-time high can happen. EGRAG also projected that XRP may have to go through a long consolidation section before embarking on the most expected price rally.

Critics of EGRAG have said that his analysis failed to offer a particular price mark for the expected rally. Meanwhile, data from CoinMarketCap shows that XRP increased by 0.71% as of press time to sell at $0.5121 in the last 24 hours. EGRAG has also predicted a short-term price rally for XRP at $1.4.

Experts Wade In, Lay Strong Emphasis XRP Historical Performance

An article on the Prime XBT, as reported by Refinitiv Eikon data, says that XRP’s court victory of June 2023 also played a significant role in the XRP’s success, increasing the price by 75%. It explained that such an important event must be cited for predatory token analysis. 

The price performance of XRP appears to be reoccurring according to this historical pattern analysis, with peaks occurring at intervals that correspond to the observed factor of 3.16. If this pattern continues, XRP will likely go through another extended stretch before hitting a new all-time high.

Albert Brown, a journalist with The Crypto Basic,  hinted that one fundamental premise in EGRAG’s analysis is the belief that the forthcoming financial crisis may exceed the scale of the 2008 global economic turmoil – citing that this pivotal event played a role in creating Bitcoin (BTC).

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Jesse Rosenbalm
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Jesse Rosenbalm

Jesse Rosenbalm stands out in the crypto journalism realm, seamlessly blending intricate blockchain concepts with accessible prose. Known for his deep dives and accurate forecasting, Jesse's articles are a must-read for both novices and experts. As crypto trends shift, his insightful writings remain a beacon in the digital currency space.

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