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Why Analyst Predicts XRP Price Could Hit $95 Soon?
Crypto analyst Egrag Crypto has predicted that the XRP price can reach $95 soon. This prediction has raised eyebrows considering the crypto’s current price. However, the analyst explained why he is confident that XRP can reach this price target.
Why XRP Price Can Reach $95 Soon
Egrag Crypto predicted in an X post that the crypto could reach $95 based on his comparison with the crypto to Netflix’s NFLX stock. He suggested that the XRP price could follow a similar trajectory as NFLX and experience exponential growth. NFLX is currently trading at $754, meaning this is a price level that XRP could reach at some point.
The analyst shared an accompanying chart in which he tracked XRP’s price movement with the time when Netflix’s stock began trading. The chart showed some similarities between the price surge NFLX enjoyed between 2002 and 2004 and the one the XRP price recorded between 2017 and 2018.
Based on the similarities between their price movements, the crypto is at the point where it could enjoy a price breakout to as high as $95, similar to the parabolic rally that the stock recorded between 2008 and 2011.
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.”
According to him, the “real play” is to buy and hold the crypto and then let the exponential growth do its thing. He again cited the Netflix stock as an explanation of why patience is key, adding that the same principles apply to the coin.
Holders Need To Stop Worrying About External Factors
Egarg advised XRP holders to “stay steady” and stop stressing over XRP price swings, regulations, the US SEC, or even the US presidential race between Kamala Harris and Donald Trump. The analyst remarked that none of these factors will “stop the evolution of money that XRP represents.”
Ripple’s long-running legal battle against the US SEC is one of the major factors that the XRP community continues to believe is holding the XRP price from experiencing this exponential growth.
If so, then the coin’s price could continue to remain stagnant in the meantime amid the Ripple SEC appeal. Based on the timeline provided by the Ripple CLO Stuart Alderoty, the appeal could last until 2026. However, a CoinGape market analysis predicts that the XRP price could hit $100 within the next 1 to 5 years.
At the time of writing, the XRP price is trading at around $0.51, down over 1% in the last 24 hours. Trading volume is up almost 20%, with $1.14 billion traded during this period.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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