Ripple’s XRP Ready for Takeoff: Analyst Makes Bold Prediction Despite Recent Struggles

XRP investors have endured a rocky road recently, with the token languishing around $0.50 and a hack of Ripple creator Chris Larsen making headlines. However, according to crypto analyst BarriC, brighter days may lie ahead.

In a X (Twitter) thread, BarriC laid out a bullish case for the beleaguered asset. “The most important $XRP post you’ll read today,” he began. “The new narrative is – $XRP is dead and what if it doesn’t go anywhere price wise in the next five years.

BarriC dismissed this line of thinking as misguided. “Every #Bitcoin halving we have had since 2016 has resulted in a massive full market bull run where 90% of all cryptocurrencies experience new ATHS and explosive price action,” he tweeted.

The next BTC halving is scheduled for early 2024. “This halving isn’t an optional thing, it’s written into Bitcoins code, and eventually there will be no more halving rewards, therefore we have a finite amount of Bitcoin,” BarriC explained.

He believes the launch of Bitcoin ETFs could accelerate this supply shock. “Now combine that with the #BitcoinETFs and we could see that $BTC supply become scarcer a lot faster,” the analyst noted.

So how does this connect to XRP’s prospects? According to BarriC, history shows crypto bull markets lift all boats. “After every halving we see new ATHs for crypto,” he reasoned, pointing to XRP’s meteoric rise from $0.01 to $3.80 in the 2017 frenzy.

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Even after the 2018 bear market, XRP managed to settle around $0.20, massively above its previous baseline. The same dynamic played out across cryptowith the likes of BTC, ETH and LINK posting huge rallies after 2020’s halving.