NeverWishing, a pseudonymous crypto analyst on TradingView, has provided a compelling 39-month cycle trend that has historically ended in substantial price increases for XRP. The last occurrence of this was observed in mid-2020, just before the bull market of 2020/2021 took flight.
This analysis suggests a revival of this historical trend that could propel XRP to remarkable heights, possibly reaching $1,000.
Read Also: State-of-the-Art Machine Learning Algorithm Sets XRP Price For October 31, 2023
In 2020, this cycle concluded with XRP surging from $0.17 in June to more than $1.9 in April 2021. Another 39-month cycle has come full circle, reaching the launch point of previous surges.
The chart NeverWishing provided shows that the next price surge will resemble the 2017-2018 spike more closely than the 2020-2021 trend. During the previous 39-month cycle jump in 2017, XRP catapulted 65,900% from $0.005 to an all-time high of $3.3.
NeverWishing predicts more explosive growth this time, with XRP potentially surging to an astonishing $1,000 by the end of the rally. This surge would signify an astounding 191,068% surge from the current price of $0.5231.
The chart shows that the surge to $2 could last four months, starting in November. After this, XRP could reach $16 by the end of April 2024. This jump will occur around the same time as the commencement of the trial and the Bitcoin halving, which another analyst predicts could cause a surge for XRP.
From here, XRP could surge to $118 in June 2024. By the end of December 2024, NeverWishing expects XRP to trade between $869 and $1,000. This date is approximately 13 months from the commencement of the rally.
Read Also: Based On 4-Year XRP Price Pattern, Analyst Sees 63% Drop From $0.93 Before Major Rally
Historically, the previous 39-month cycle surges reached their high in under a year. The 2017-2018 rally took 11 months, while the 2020-2021 rally spanned 10 months. NeverWishing believes that the next cycle might follow a similar timeframe.
It’s worth noting that the 39-month cycle for XRP exhibits similarities to the four-year Bitcoin cycle. However, unlike Bitcoin halving, the XRP 39-month cycle seems to stick to a time-based framework.
Recent events, such as Ripple’s legal victories against the US Securities and Exchange Commission (SEC), have fueled bullish sentiments for the token. Ripple is also expanding its global presence. Another major recent development is a potential international partnership between the Australian Freight and Trade Alliance (FTA) and Ripple.
Follow us on Twitter, Facebook, Telegram, and Google News
As we move further into 2024, the cryptocurrency landscape continues to evolve, bringing new opportunities…
The price trajectory of XRP has been a topic of discussion and speculation within the…
In a market where Ethereum sees a downturn and Ethereum gas fees reflect decreasing activity,…
The ongoing legal battle between the SEC and Ripple has reached a critical juncture as…
Shiba Inu announced the launch of ShibaSwap on its Layer-2 scaling solution network, Shibarium, sparking…
The Shiba Inu (SHIB) token has experienced a significant increase in large transaction activity over…