Analyst: XRP Will Get Its ATH Back If ripple Spends $6 Billion on Net Purchases
Crypto detective Mr. Huber has added interest to rising New Year’s expectations of a potential crypto bull run with his prescient findings on Ripple’s XRP. As a follow-up to his previous analysis of XRP’s potential challenges in reaching its all-time high (ATH), the researcher shared a few “facts” about XRP.
Mr. Huber
The analyst’s findings are based on historical analysis of XRP’s trajectory, specifically the previous bull market. According to CoinMarketCap data, the ATH of XRP, which is currently traded at $0.6335, was $3.84 in 2018.
Describing XRP’s sudden price increases, Mr. Huber suggested that this increase “almost always coincides with Ripple buybacks on the open market.” Although such XRP buybacks occur approximately once a quarter, the probability of a price increase is 80%. Additionally, the analyst mentioned the possibility of a 50% increase if Ripple reclaims its $100 million net purchase within 1-2 days.
While in his previous post he emphasized that XRP needs to rise above 2000% to reach ATH, one of his followers asked the question: “How many millions of dollars does Ripple need to spend for this?” In response to the question, Mr. Huber claimed that historical data showed that a “net purchase of $6 billion” was required for a 20-fold increase.
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