As a seasoned analyst with over two decades of experience in the stock market and cryptocurrency realm, I find Egrag Crypto’s prediction intriguing yet plausible. His comparison between XRP‘s price movement and Netflix’s NFLX stock trajectory is an innovative approach that warrants attention.
Cryptocurrency expert Egrag Crypto anticipates that the value of XRP might climb up to $95 in the near future. This forecast, given its present price, has sparked curiosity among investors. Yet, Egrag Crypto elaborated on his reasons for feeling certain that XRP could attain this projected price point.
Why XRP Price Can Reach $95 Soon
In a recent post on X, Egrag Crypto posited that the value of the crypto might hit $95, drawing parallels with Netflix’s stock (NFLX). He proposed that the price trend of XRP could mirror NFLX’s and exhibit substantial growth. Currently, NFLX is trading at approximately $754, implying that this could be a potential level for XRP to reach in the future.
In a shared analysis, the expert presented a related graph that traced XRP’s price fluctuations alongside the commencement of Netflix stock trading. This chart indicated some parallels between the significant growth in NFLX shares from 2002 to 2004 and the rise in XRP prices from 2017 to 2018.
Given its cryptocurrency’s price patterns resemble those seen earlier, there’s a possibility of a significant price surge, potentially reaching up to $95. This could mirror the steep upward trend in its value, as observed from 2008 to 2011 with the stock.
Egrag Crypto indicated that patience is key while waiting for XRP’s exponential growth. He alluded to the fact that many crypto participants look to be caught up in day-trading meme coins and chasing quick profits However, the analyst believes that is not a “winning long-term strategy.”
In his opinion, the true strategy for investing in cryptocurrency is to purchase it and then patiently allow its exponential growth to take effect. He used the example of Netflix stock to illustrate this, emphasizing that the same concept of patience applies when dealing with digital coins.
Holders Need To Stop Worrying About External Factors
Egarg recommended XRP owners to remain patient and avoid worrying about fluctuations in XRP prices, regulatory issues, the US Securities and Exchange Commission (SEC), or even the presidential election between Kamala Harris and Donald Trump. In his opinion, none of these elements will halt the progression of the monetary concept that XRP embodies.
One significant factor that the XRP community consistently points to as a potential hindrance for XRP’s rapid price increase is Ripple‘s ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC).
If the Ripple SEC appeal persists, it’s possible that the XRP price may hold steady for some time. According to Stuart Alderoty, Ripple CLO, this legal battle could extend until 2026. Contrarily, a study by CoinGape suggests that the XRP price might reach $100 within the next one to five years.
As I pen this down, the current value of XRP hovers around $0.51, marking a decrease of approximately 1% over the past 24 hours. Notably, the trading volume has seen a substantial increase of nearly 20%, with an impressive $1.14 billion worth of transactions taking place during this period.
Read More
- ENA PREDICTION. ENA cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- USD PHP PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- USD ZAR PREDICTION
- LUNC PREDICTION. LUNC cryptocurrency
- WIF PREDICTION. WIF cryptocurrency
- HYDRA PREDICTION. HYDRA cryptocurrency
- HEC PREDICTION. HEC cryptocurrency
- BRISE PREDICTION. BRISE cryptocurrency
2024-10-26 22:06