{"id":564719,"date":"2020-11-24T11:51:05","date_gmt":"2020-11-24T08:51:05","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=564719"},"modified":"2020-11-24T11:51:05","modified_gmt":"2020-11-24T08:51:05","slug":"xrp-could-hit-440-due-to-runaway-inflation-money-printing-analyst","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/xrp-could-hit-440-due-to-runaway-inflation-money-printing-analyst\/","title":{"rendered":"XRP Could Hit $440 due to Runaway Inflation & Money Printing – Analyst"},"content":{"rendered":"
Quick take:<\/strong><\/p>\n The digital asset of XRP has continued<\/a> on its impressive parabolic run hitting a two-year high of $0.78 – Binance rate.\u00a0 This means that the remittance coin of XRP has increased in value by 225% in the month of November alone. At the time of writing, XRP<\/a> has dropped to the $0.71 price area as investors anticipate more bullishness from the digital asset.<\/p>\n According to Bitcoin and Crypto analyst, MagicPoopCannon<\/a>, XRP could go as high as $440. His analysis is based on a worst-case scenario of global hyperinflation and continual money printing<\/a> by central banks.<\/p>\n Here is the technical case for how XRP could possibly rise to $440…I know there will be people who comment how that would make XRP worth trillions (around $20 trillion according to my calculations) and that such a feat is impossible for a cryptocurrency like XRP.<\/p>\n I just want to end that argument by reminding everyone that the global money supply is constantly expanding. A $20 trillion dollar XRP market cap would be hard to imagine with the current global monetary supply, but the global monetary supply already appears to be entering a period of accelerated expansion.<\/p>\n Continuous printing and runaway inflation<\/span>\u00a0could easily make this a possibility, and with the looming global debt crisis in the background, nothing is beyond the realm of reason.<\/p><\/blockquote>\n Magic further points out that XRP’s bear market since 2018 is very much similar to the one it had in 2015. If history repeats itself, XRP could experience a bull run similar to 2017’s that could propel it to $440. His analysis is based on Fibonacci retracements as explained below with an accompanying chart of his analysis.<\/p>\n Now, if we look back to the initial breakout from 2017, we can see that the first\u00a0resistance level<\/span>\u00a0was at the 2.618 retrace. Currently, the 2.618 retrace is above $9! So, if XRP is going to perform similarly, we would need to see a massive rally to $9 in the near future.<\/p>\n From there, we saw XRP eventually rise to the 16 retracement, and then the 128, which is interesting to me because 128 is a multiple of 16. Anyway, if XRP performs similarly, it would then rise to the $55 level (the 16 retracement) and then eventually to the $440 level (the 128 retracement.)<\/p><\/blockquote>\n <\/a><\/p>\n\n
$440 Per XRP due to Runaway Inflation and Money Printing<\/h2>\n
How XRP Will Reach $440<\/h2>\n
TradingView Community Reacts to his $440 Prediction of XRP<\/h2>\n