Highlights:
- Egrag Crypto predicts XRP could reach $95, likening it to Netflix’s growth.
- He advises XRP holders to stay steady amid market fluctuations and uncertainties.
- Egrag’s chart shows XRP mirroring Netflix’s price movements during similar market phases.
In an X post, crypto analyst Egrag Crypto predicted that the XRP price could reach $95, drawing parallels between the cryptocurrency and Netflix’s NFLX shares. He suggested that XRP might follow a similar trajectory to NFLX and see exponential growth. NFLX is now at $754, hinting that the cryptocurrency could reach a similar level.
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The analyst included a graphic that compared the price change of XRP to the early trading period of Netflix stock. This chart highlighted certain parallels between NFLX’s price spike from 2002 to 2004 and XRP’s surge from 2017 to 2018. Compared to the stock’s meteoric rise from 2008 to 2011, the cryptocurrency now appears poised for a breakout to $95, given the similarities in their price patterns.
🚀 #XRP vs. NETFLIX – The Power of Exponential Growth 📈💥
Introducing a new series: #XRP vs. FANGMAN ⚡️
I’m diving deep into comparisons between #XRP and the giant FANGMAN stocks, starting with Netflix. 🎬📊
💡 While 95% are caught up in day-trading MEME coins, chasing quick… pic.twitter.com/c34DuIrB1e
— EGRAG CRYPTO (@egragcrypto) October 24, 2024
“Stay Steady” During Market Fluctuations, Analyst Advises
Regardless of what happens with XRP’s price, regulations, the US SEC, or even the presidential contest between Donald Trump and Kamala Harris, Egrag advised XRP holders to “stay steady” and avoid panic. The expert stated that none of these factors will “stop the evolution of money that XRP represents.”
He noted that many crypto participants seem to be focused on day-trading meme coins and pursuing quick profits. However, the analyst believes this is not a “winning long-term strategy.” He stated that the “real play” is to buy and hold the crypto. He again referenced Netflix stock to illustrate why patience is crucial, emphasizing that the same principles apply to XRP.
Many in the XRP community believe that Ripple’s long legal battle with the US SEC is holding back XRP’s price from growing significantly. As a result, the Ripple SEC appeal may keep the coin’s price flat for now.
Currently, XRP is trading at about $0.51, up 0.31% in the last 24 hours. However, trading volume has decreased by nearly 63.24%, with $540.12 million traded during this time.
Parallels Between NFLX and XRP’s Price Movements
From October 2002, NFLX experienced both impressive and disappointing price movements. It rose from $0.3464 in October 2002 to $5.64 in February 2004, marking a significant 1,528% rally in under two years. After reaching a peak of $5.64, Netflix witnessed a major correction, falling to a low of $1.32 before recovering.
However, the stock struggled to regain its previous high for five years. During this time, NFLX went through a consolidation phase that likely raised concerns among investors. When NFLX finally broke out in December 2008, it triggered a significant price surge, reaching $43 by July 2011. Despite experiencing several ups and downs, Netflix has surged by 18,563% since February 2008 and currently trades at $754.68.
Egrag’s chart suggests that XRP is following a path similar to NFLX. Currently, XRP’s price resembles Netflix’s level in February 2008, a period marked by doubts and consolidation. XRP experienced a spike similar to Netflix’s from October 2002 to February 2004, when it rallied from January 2017 to January 2018. XRP then faced a similar correction and is now in a consolidation trend. If XRP continues to follow Netflix’s trajectory, it could see a rally in the coming months. Currently trading at $0.5145, XRP could reach $95.7.
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