Cryptocurrency analyst Egrag Crypto predicted that XRP price could reach $95 soon. Considering the current price of cryptocurrencies, this prediction raised some eyebrows. However, the analyst explained why he is confident that XRP can achieve this target price.
Why XRP price could reach $95 soon
Egrag Crypto predicted on XPost that the cryptocurrency could reach $95 based on a comparison between the cryptocurrency and Netflix’s NFLX stock. He suggested that XRP price could follow a similar trajectory to NFLX and experience exponential growth. NFLX is currently trading at $754, meaning this is a price level that XRP may reach at some point.
The analyst shared an attached chart that tracks the price movement of XRP since Netflix stock began trading. This chart showed some similarities between the price surge that NFLX enjoyed from 2002 to 2004 and the price surge that XRP price recorded from 2017 to 2018.
Based on the similarities in their price movements, we believe the cryptocurrency is on the verge of enjoying a price breakout of up to $95, similar to the parabolic rally it recorded between 2008 and 2011.
Egrag Crypto suggested that patience is the key while waiting for XRP to grow exponentially. He alluded to the fact that many crypto participants seem to be getting caught up in day-trading meme coins and chasing quick profits, which the analyst said is not a “long-term winning strategy.” I’m thinking.
The “real play,” he says, is to buy cryptocurrencies, hold them, and let them grow exponentially. He once again pointed to Netflix stock as an illustration of why patience is important, adding that the same principle applies to coins.
Holders need to stop worrying about external factors
Egarg advised XRP holders to “stay stable” and stop stressing over XRP price fluctuations, regulation, the US SEC, and even the US presidential election of Kamala Harris and Donald Trump. . The analyst said that none of these factors “can stop the evolution of the money that XRP represents.”
The long-running legal battle between Ripple and the US SEC is one of the major factors that the XRP community continues to believe is preventing the rapid rise in the XRP price.
If so, the coin’s price could remain stagnant for some time amidst the Ripple SEC lawsuit. The appeal could last until 2026, based on a timeline provided by Ripple CLO Stuart Alderroti. However, Coingape’s market analysis predicts that XRP price could reach $100 within the next 1-5 years.
At the time of writing, XRP price is trading around $0.51, down more than 1% in the past 24 hours. Trading volume increased by approximately 20%, with $1.14 billion traded during the period.
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Boluwatife Adeyemi
Boluwatife Adeyemi is an experienced cryptocurrency news writer and editor who has covered topics spanning DeFi, NFTs, smart contracts, blockchain interoperability, and more, among others. Boluwatife has a knack for simplifying the most technical concepts and making them easier for crypto beginners to understand. Outside of writing, he is an avid basketball fan and part-time enthusiast.
Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
