A crypto analyst has one bold prediction concerning the future trajectory of the XRP price. Based on his prediction, the XRP community could see the crypto token’s price enter three digits soon enough.
XRP price rises to $352
In a video Posted on YouTube, the crypto analyst behind the JWK Show channel concluded that the price of XRP could potentially rise as high as $352. He came to this conclusion after using an XRP calculator. This calculator was invented based on a valuation model developed by Susan Athey, who also happens to be there Ripple board, and Robert Mitchnick, a former employee at the crypto company.
The crypto analyst had entered statistics such as transaction volumecirculating supply, store of value, and how long it would take to process transactions in the XRP calculator to get the price of $352.
While there was no timeframe for when this price might be updated, it’s worth noting that the calculator worked with figures based on a five-year forecast. The crypto analyst also alluded to an X-post (formerly Twitter) before stating that the XRP community could see the crypto token “finally on the moon” in 2024.
The $352 price prediction seems like a far reach considering XRP is still around is around $0.6. However, that price point seems more feasible compared to more bold price predictions such as those from XRP reaches $10,000 in the future.
However, analysts like Davinci Jeremy could argue that anything is possible with XRP, as he recently proposed that the XRP price movement defies technical analysis.
XRP trending at $0.63 | Source: XRPUSD on Tradingview.com
XRP and other altcoins are entering the bull phase
The analyst behind the JWKShow channel also shared his analysis of the altcoin market. He noted that a breakout has occurred as altcoins have left the accumulation phase and are moving towards the bull phase. He drew similarities between the current chart pattern and that of 2019, just before altcoins entered the bull phase.
He specifically addressed the XRP price as he stated that it is a good time to invest in the crypto token. One of his reasons for saying this is because XRP is expected to break out of the two-year trendline soon enough, which could see its price rise significantly. He also referred to the peak The transaction volume of XRPwhich is also bullish for the crypto token.
Interestingly, the crypto analyst is also among those who believe that the XRP price is suppressed. He said that the price of XRP will go parabolic “when the 1% is done, which should be in 2024.” However, it is unclear who the “1%” he is referring to is.
At the time of writing, XRP is trading around $0.62, down over the past 24 hours. facts from CoinMarketCap.
Featured image from Watcher Guru, chart from Tradingview.com
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