thecryptobasic.com
Crypto market participants continue to speculate the potential price of leading assets like XRP following the latest Bitcoin, arguing for an XRP pricee of $5.5 in three months.
One of the latest commentators on XRP’s outlook post-halving is BSC Scoop, an X account for the BNB Chain ecosystem. In a post on X, BSC Scoop highlighted its ambitious outlook for nine prominent cryptocurrencies, including XRP. It suggested a three-month timeline for the assets to attain the projections.
XRP to Hit $5.5 by July
For XRP, the account argued that it could be worth $5.5 by July this year. Significantly, BSC Scoop provided no particular basis for the optimistic projection apart from the anticipated market enthusiasm following Bitcoin’s halving event.
Notably, at price time, XRP trades at $0.533. To hit $5.5 between June and July, XRP must soar by 932%. This hypothetical projection anticipates XRP to crack its six-year-old all-time high of $3.84 within 12 weeks to establish a new unprecedented level.
Before BSC Scoop, other prominent entities in the crypto community voiced similar sentiments, concurring that $5.5 could be a near-term target for XRP rather than its peak for this imminent bull market.
Analysts with this sentiment include Capt Toblerone, EGRAG, and Dark Defender. EGRAG is one of the most ambitious XRP analysts, who has repeatedly emphasized the asset’s path to $27 based on historical patterns.
History Suggests Otherwise
Meanwhile, on the side of history, XRP may take longer than three months to hit $5.5, if it ever does. For instance, after Bitcoin’s third halving cycle in 2020, it took XRP 11 months to advance by 942% to the season’s peak of $1.96.
Specifically, XRP only moved up by 72% from a bottom of $0.1885 to a high of $0.3244 three months after 2020 halving.
Furthermore, after Bitcoin halved in July 2016, XRP maintained a similar price range of around $0.006 for eight months before commencing its bull run. While it went on to explode aggressively by over 75,000%, it took 18 months after Bitcoin’s halving to secure this price surge.
Notably, prominent crypto pundits like Ash Crypto have suggested a 12-month timeline for XRP to soar 848% to $5. This outlook closely mirrors XRP’s 2021 trajectory, which took 11 months to peak.