Renowned crypto influencer John Squire has recently hinted at a potential XRP price, citing an extended accumulation in the past six years.
Per the crypto influencer, XRP’s seemingly prolonged accumulation would pave the way for a looming surge. He described the increment that would accompany XRP’s accumulation phase as exceptional, superseding expectations from top market observers.
Read Also: Analyst Sets $1.88 and $5.85 XRP Price Targets in Anticipation of End to Correction
The crypto influencer wrote, “Are people even aware that $XRP has been in an accumulation phase for probably about 6 years? The explosion will exceed all expectations.”
Are people even aware that $XRP has been in an accumulation phase for probably about 6 years?
— John Squire (@TheCryptoSquire) September 12, 2023
The explosion will exceed all expectations.
XRP Accumulation Phase – Implications
In the crypto sphere, an asset is said to be in its accumulation period when it seems to maintain a relatively constant price range. In other words, it implies that the cryptocurrency has not registered any spontaneous surge in price over a considerable interval.
Usually, when scenarios like the one described above play out, crypto investors always strive to leverage the opportunity to accumulate crypto assets at a subsidized market price while they patiently anticipate a rally that would catapult the digital asset’s price.
Aside from just trying to accumulate crypto assets during their accumulation phases, investors are always bent on ensuring they make the right investment choices by investing in projects with the potential to become a big hit.
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Read Also: Analyst Predicts 40% XRP Price Drop, Community Reacts
Relating the explanations above to XRP, it is safe to say that Squire was relatively correct when he stated that XRP has been in a steady accumulation phase for the past six years.
Notably, the cross-border crypto asset last recorded an incredible price high when it attained its all-time high (ATH) market value of $3.84 on January 7, 2018.
Unfortunately, XRP has since been shedding off profit. Its current price at the time of press was 85.88% below the ATH.
Meanwhile, the downside to Squire’s price prediction is that it came with no particular price projection and a timeline for the price rally to play out.
Other Top Pundits Similar Predictions For XRP
Among top crypto chartists projecting price pumps for XRP, Egrag Crypto seems to be the most outspoken. In one of his recent price analyses, he predicted a rally of about 2500% for XRP in 2024.
Based on the XRP’s current price of $0.48, a 2500% increase would spike the digital asset to a price high of approximately $12. A $12 price target implies that a new all-time high (ATH) would play out if Egrag’s forecast ensues in 2024.
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