Crypto sleuth Mr. Huber added intrigue to the growing New Year anticipations on a potential crypto bull run with his insightful findings of Ripple’s XRP. As a sequel to his previous analysis of XRP’s potential challenges to retrieve its all-time high (ATH), the researcher shared a few “facts” about XRP.
Mr. Huber
The analyst’s findings are based on a historical analysis of XRP’s trajectory, especially its previous bull market. According to CoinMarketCap data, XRP, currently trading at $0.6335, had an ATH of $3.84 in 2018. After scrutinizing XRP’s price movements during the time, Mr.Huber pointed out that XRP had “sudden inexplicable very fast price spikes between 30 and 100%”.
Narrating the sudden price spikes of XRP, Mr. Huber posited that the surge “almost invariably coincides” with Ripple buybacks on the open market. While such XRP buybacks happen approximately once a quarter, the possibility of a price surge is 80%. In addition, the analyst talked about a 50% possibility for a hike when Ripple buys back 100 million dollars of net purchases within 1-2 days.
In his previous post, while he highlighted the dire need for XRP to surge over 2000% to reach its ATH, one of his followers enquired, “How many million dollars does Ripple have to spend for that?” As a response to the question, Mr. Huber asserted that the historical data indicates the necessity of a “6 billion dollars in net buys” for a 20x hike.