XRP could see its value skyrocket to a range of $869 to $1,000, according to notable crypto analyst NeverWishing, who cited the imminent start of a new 39-month cycle.
The analyst’s recent post considered XRP’s historical price movements within a 39-month cycle window. Notably, XRP has registered astronomical gains every 39 months since its inception, with each 39-month cycle ending with a decline.
Citing this historical trend, he projected that the price of XRP could pump to $30 or $100. However, NeverWishing’s prediction is more ambitious than this, as he envisions that this pump could shake off 99% of market participants who would miss out on more substantial gains.
According to him, once these investors have sold off at $30 or $100, the price would consolidate. Nonetheless, following the consolidation, XRP would then skyrocket to the range between $869 and $1,000.
The 39-Month Cycle
Data from his chart shows XRP’s historical patterns conforming to the 39-month cycle. Notably, the first cycle began in late 2013, resulting in an XRP rally from $0.00289 in August 2013 to a high of $0.06144 in December 2013.
The first cycle ended in January 2017, leading to the beginning of a second cycle. This second cycle resulted in the rally to the all-time high of $3.31. After the ATH value, XRP faced a series of declines until the 39 months elapsed. This also occurred in the first cycle.
The second 39-month cycle ended in mid-2020, with the third cycle forming shortly afterward. XRP attained this third cycle’s high in April 2021 when it skyrocketed to $1.96695. Analysts believe this value would have been higher if the SEC lawsuit did not occur.
A Projected 191,507% Rally
With XRP recently gaining legal clarity, NeverWishing projects insane price forecasts for the coming 39-month cycle. According to the analyst, the next cycle will begin in November. Once the rally starts, he sets price targets of $2, $16, and $118 between February and June 2024.
He then forecasts a consolidation after the $118 price target that would last for the rest of 2024. However, after this consolidation, NeverWishing projects an astronomical surge to a range between $869 and $1,000 by December 2024.
This represents one of the most ambitious price targets for XRP, with most community members having doubts, and rightly so. XRP is trading for $0.5219 as of press time. The asset would need to rally by 191,507% to hit the ultimate $1,000 target.