Tuesday, November 28, 2023
HomeCryptocurrencyCiting Trends From 2013, Analyst States How Long It Would Take XRP...

Citing Trends From 2013, Analyst States How Long It Would Take XRP To Record New ATH

Prominent XRP-focused analyst Egrag Crypto recently took to X to predict how long it would take XRP to record a new all-time high (ATH).

Aside from citing historical records to back up his analysis, Egrag also noted possible future events that would birth what the XRP community members believed to be an imminent financial crisis.

Read Also: ChatGPT XRP Price Predictions for 2024, 2028, 2032, and 2050

Financial Crisis Bigger Than The 2008 Global Economic Meltdown 

Describing the magnitude of the potential financial turmoil that would precede XRP’s new ATH, Egrag, and his colleague noted that it would be more devastating than the 2008 global economic shutdown that brought about the creation of Bitcoin (BTC), the first and largest crypto by market cap.

In addition, the duo hinted that XRP has what it takes to be dubbed the valid digital monetary champion in the present crypto era. 

The conviction above was said to have emanated from XRP’s unique features like the digital asset’s impressive operation speed, efficiency, pocket-friendly financial costs, etc. These attributes were earmarked as strong propelling forces that could be crucial in rebuilding the overall economic landscape. 

Predicted Timeline For New XRP Price ATH

According to the latest analysis, substantial time is required for happenings to conform to the shape that would precede XRP’s price surge. Intriguingly, the timeline would be longer than the crypto community would expect. 

Explaining the pattern of XRP price fluctuation, an imprint that corresponded to multiplying 3.16 by the duration of the preceding cycle was highlighted. Notably, the 3.16X multiplication factor was obtained by dividing 1197 days by 378. 

Applying the 3.16 multiplication factor rule, Egrag proved how the XRP cycle seemed to have traversed about 2600 days starting from the 2014 peak.

Read Also: Expert States Why Investors Shouldn’t Bank Solely on Ripple for XRP Price Growth

Citing historical records to drive his analysis further, Egrag highlighted the 2013 price high and how it paralleled the 2018 peak. He also spotlighted 2014 market highs, which corresponded with the 2021 peak.

In a nutshell, considering the multiplication factor and other historical records highlighted in Egrag’s analysis, five years could potentially go down the drain before XRP could orchestrate a rally that would spike it to a new ATH. 


Also, the whole analysis seemed to hint at a potential extended consolidation period before taking in any significant rally. 

At the time of writing, XRP is changing hands at $0.497 with a 24-hour trading volume of $472,984,325 and a market capitalization of $26,490,349,475.

Follow us on Twitter, Facebook, Telegram, and Google News

Chinedu Agbakwusi
Chinedu Agbakwusi
Chinedu Agbakwusi is a medical student at the prestigious Nnamdi Azikiwe University with sound knowledge of the crypto space. I am here to be a reliable plug for well-researched crypto content ranging from crypto news to market analyses and blockchain inventions.

Latest News & Articles