XRP’s long-term price targets: Can it repeat 2017 and 2021’s performances? – AMBCrypto News

  • Low profitability may benefit XRP price in the long run
  • Due to increasing coin age, it may fall below $0.50 in the short term

EGRAG Crypto, a popular crypto analyst at X, believes that XRP has the potential to repeat the price performance of 2017 and 2021. According to analysts, XRP’s current dominance is retesting its historical support line.

If this continues, the token price could target pumps not seen in nearly three years. In the case of EGRAG crypto, if XRP registers a short-term gain of 17.39%; prediction I was able to verify it.

In 2017, the seventh most valuable cryptocurrency rose from $0.18 to end the year at around $1.12. In 2021, the price of XRP rose an incredible amount from $0.26 to $1.59 in a matter of months.

However, altcoins have not been able to replicate such performance since then. In fact, this year, the value of XRP has fallen by 17.18%. However, the situation is different in the past 24 hours, the price rose by 4.04%.

Loss creates something better

For XRP to potentially reach the starting point of a move to historic highs, the price must first reach $0.58. But at the same time, that’s not a guarantee that the token will perform great again.

AMBCrypto analyzed the possibilities by focusing on the supply of profits. It is no news that this project is one of the projects with the highest token supply among the top 10.

However, the last time nearly 100% of the 99.99 billion XRP tokens made a profit was in 2021. At the time of writing, only 75.54 billion of the supply was profitable. Data from Santiment.

High levels of the indicator usually coincide with market highs. Therefore, the decline in investor profitability is consistent with bullish forecasts.

XRP shows long-term bullish forecast

Source: Santiment

Additionally, we looked at the 90-day average coin age (MCA). MCA simply indicates the movement of coins into and out of a cold wallet.

The low age of the coin indicates that the token has been accumulated and discarded until self-custodial. However, XRP’s MCA has spiked, indicating that some older tokens have been moved.

In most cases, this movement suggests that the holder is planning to sell. A further surge could drive the price lower, and a decrease in coin age could set the stage for a parabolic move on the chart.

First — XRP to $0.48

XRP may not continue to rise for the time being and could then fall to $0.48. moreover, Exchange flow Agreed with this potential reduction.

At the time of writing, the amount of inflows to the exchange, which represents the movement of virtual currencies to the exchange, was 1.8 million. Meanwhile, exchange outflows (tokens withdrawn from exchanges) were a figure of 701,000.

Possibility of short-term decline in XRP

Source: Santiment

After that, if outflows exceed inflows, XRP may continue to rise. Regardless of the short-term trend of cryptocurrencies, there are many factors other than those mentioned above that can push up cryptocurrencies.

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For example, the tokens that have done well this cycle seem to be driven by specific narratives. Unfortunately, XRP doesn’t seem to fit into any of those categories. Values ​​may rise, but the likelihood of replicating previous performance remains low.