The JWK Show YouTube channel has made various predictions about the cryptocurrency market, including XRP. On December 26th, the analyst asserted that altcoins, including XRP, could be on the brink of a major pump. He noted that the altcoin market is currently in an accumulation phase, which could lead to a bull phase, similar to the one seen in 2019 when substantial gains were made.
The analyst highlighted a trendline of XRP over the past two years that could soon be exceeded. In addition, they observed a 74% rise in trading volume for the asset.
JWK also mentioned the upcoming SpaceX DOGE-1 launch, which is scheduled for no earlier than February 2024 and is to be paid for in Dogecoin. This could have a positive impact on the cryptocurrency market.
To back up his analysis, JWK referred to a crypto asset valuation model published in 2018 by Robert Michnick, a former employee at Ripple and now head of BlackRock’s digital assets division. Using a similar approach to Michnick, the analyst predicted that XRP could reach $352, based on future transaction volume, velocity, and store-of-value estimates. However, no timeline was given for this goal.
