An analyst now gives XRP a massive price target of $95 based on his comparison with the crypto to Netflix’s NFLX stock.
Crypto analyst Egrag Crypto has forecasted that XRP might reach a price of $95 in the near future, a prediction that has generated considerable interest given the current price of the cryptocurrency.
Egrag Crypto explained his reasoning for this optimistic outlook.
In a post on X, Egrag Crypto suggested that XRP could mirror the growth trajectory of Netflix’s stock (NFLX).
He noted that if XRP follows a similar path, it could see significant gains.
Currently, NFLX is priced at $749, which indicates a potential target for XRP.
To support his prediction, the analyst shared a chart comparing XRP’s price movements with the timeline of Netflix’s stock when it first began trading.
The chart revealed similarities between the price spikes experienced by NFLX from 2002 to 2004 and those of XRP from 2017 to 2018.
Egrag Crypto believes that based on these parallels, XRP is at a critical juncture where it could break out and reach as high as $95, similar to the rapid increase NFLX experienced between 2008 and 2011.
He emphasized the importance of patience for those waiting for XRP’s potential growth.
Egrag noted that many crypto investors tend to focus on day-trading and chasing quick profits, which he views as an ineffective long-term strategy.
Instead, he advocates for a “buy and hold” approach, using Netflix’s stock as an example to illustrate why patience is essential.
Egrag advised XRP holders to remain calm and not to worry about price fluctuations, regulatory concerns, or even political events like the U.S. presidential race between Kamala Harris and Donald Trump.
He stated that none of these factors can hinder the “evolution of money” that XRP represents.
One significant issue affecting XRP’s price is Ripple’s ongoing legal battle with the U.S. SEC, which many in the XRP community believe is preventing the cryptocurrency from realizing its growth potential.
The legal appeal could extend until 2026, according to Ripple’s Chief Legal Officer, Stuart Alderoty.
However, a market analysis from CoinGape predicts that XRP could reach $100 within the next 1 to 5 years.
As of now, XRP is trading at approximately $0.51, down over 1% in the last 24 hours, although trading volume has increased by nearly 20%, with $1.14 billion exchanged during this period.
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Also Read: Ripple CTO Cites The Utility of Cross-Border Payments to Mexico with XRP
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