EGRAG, a seasoned analyst, opines that XRP may require an additional five years before it achieves a new all-time high, drawing from comprehensive historical data of the asset’s prior peaks.
EGRAG revealed this in a recent analysis, suggesting that XRP investors might need to exercise patience for an extended duration before witnessing a substantial increase in the value of their XRP holdings.
The report delves into the prospective scenarios that XRP might confront in the years preceding what some foresee as the impending financial crisis.
XRP to Lead the Next Financial Revolution
One fundamental premise in EGRAG’s analysis is the belief that the forthcoming financial crisis may exceed the scale of the 2008 global economic turmoil. This pivotal event played a role in the creation of Bitcoin (BTC), the firstborn crypto.
Nevertheless, in the current era of digital transformation, EGRAG and his associate emphatically assert that XRP emerges as the leading contender to claim the mantle of digital monetary supremacy.
This conviction stems from XRP’s distinctive characteristics, such as its remarkable speed, efficiency, and cost-effectiveness. Per EGRAG, these traits position XRP as a formidable force in transforming the financial landscape.
An Elongated Wait Time
Although the potential for XRP to revolutionize the financial sector is undeniable, EGRAG’s analysis indicates that the path to achieving this transformation may necessitate more time than originally envisaged.
This revelation stems from a pivotal observation: XRP’s price fluctuations appear to adhere to a pattern corresponding to a factor of 3.16 times the duration of the preceding cycle.
To offer context, EGRAG compares historical XRP peaks and the intervals separating them. He highlights that the 2013 high aligns with the 2018 peak, while the high of 2014 corresponds with the 2021 peak.
By applying this 3.16 factor to the ongoing cycle, EGRAG concludes that this current cycle spans 2,632 days from the peak of 2014. He arrived at this by multiplying 3.16 with the 833 days between the 2014 high and the end of that cycle.
In practical terms, XRP enthusiasts and investors may need to wait longer before a new ATH. EGRAG’s projection suggests that the XRP market could experience a prolonged consolidation phase before embarking on the anticipated rally.
However, the analyst failed to provide specific price targets for this rally. Meanwhile, XRP is trading for $0.5121, up 0.71% over the past 24 hours. In the short term, EGRAG previously predicted an XRP rally to $1.4
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
