Top Analyst Argues XRP Will Never Break All-Time High

A prominent crypto analyst and BTC investor share cautionary views about XRP price, sparking community debates about XRP’s all-time high possibilities.

The Wolf, a renowned crypto figure claiming to be an early BTC adopter, took to Twitter to share some skeptical sentiments about XRP’s future. He expressed caution regarding XRP and the potential consequences of the Ripple Foundation dumping large amounts of tokens soon.

The Wolf also questioned the likelihood of XRP breaking into a new all-time high (ATH) due to inflationary concerns.

‘XRP Army be like, “This time, it’s different.” Remember to tell yourselves that when Ripple Foundation dumps hundreds of millions of tokens on you in 2 weeks. There’s a reason XRP has never, and will never, break into a new ATH. It’s called “inflation,”’ he remarked.

#XRPArmy be like, "This time, it's different".

Remember to tell yourselves that when Ripple Foundation dumps hundreds of millions of tokens on you, in 2 weeks.

There's a reason $XRP has never, and will never, break into a new ATH. It's called "inflation"… Google it. pic.twitter.com/iMUAl9X22x

— The Wolf (@WolfOfPoloniex) July 18, 2023

XRP Community Reacts

In response to The Wolf’s tweet, some users argued that XRP’s inflation rate had been relatively low, pointing out that it had only increased by 3.8% over the past three years. They dismissed the notion of judging ATH movements based on short timeframes.

Inflation? In last 3 years inflation is only 3.8% from 50b to 52b

And ur judging ATH macro update in 4hr time frame lol

— satti (@bachhalsati) July 18, 2023

Similarly, another XRP enthusiast disagreed, expressing confidence in XRP’s ability to reach new ATHs by 2025 and challenging the bearish sentiment. He questioned the credibility of The Wolf’s claims, conceding a lack of expertise in charting yet asserting optimism in XRP’s potential.

Amid the ongoing debate, another Twitter user suggested that inflation was not the sole determinant of XRP’s performance. He highlighted the influence of “Hype,” using Dogecoin’s success with its hyperinflation as an example. Additionally, he highlighted the thin order books on exchanges, supporting the inevitability of an ATH for XRP.

There is another thing that can bit easily XRP inflation. It's called "Hype" 😉 Useless Dogecoin with "hyperinflation" is an example. And the order books on the exchanges are thin and now all can buy. XRP ATH is inevitable 🙂

— John Smith (@drizol) July 18, 2023

XRP’s Risk Based on On-Chain Metric

Coincodex, a prominent market tracker, conducted automated risk checks on XRP, flagging potential investment risks. The firm reveals that the 14-Day Relative Strength Index (RSI) of XRP is at 80.13.

For context, RSI is a technical indicator used in financial markets to identify overbought or oversold conditions, indicating potential trend reversals. Coincodex noted that XRP at 80.13 is a potential bearish signal.

Furthermore, the market tracker revealed that despite XRP’s impressive 583.73% increase from its cycle low, it was still -60.85% below its cycle high, indicating fluctuations in its performance. 

Moreover, with a 30-day volatility rate above 30%, XRP price stability was in question. Additionally, Coincodex noted issues with the yearly inflation rate of 13.26%, considering that 6.12 billion coins were generated last year.

On the contrary, as The Crypto Basic reported, multiple positive signs suggest XRP’s bullish rally is restarting, such as XRP experiencing nearly two million transactions every six seconds worldwide. 

XRP trades at $0.8214, with a cumulative 65% growth over the past week.