Experts are forecasting a substantial surge in the price of XRP, despite the current bearish market conditions. Ripple is planning to release 400 million tokens in a major token dump.
Crypto analysts are optimistic about the future of XRP, with analyst DustyBC predicting a significant price increase that could push the value of XRP to unprecedented levels. This year is expected to see a long-awaited parabolic shift in the price of XRP.
According to DustyBC, XRP is poised to experience a “God candle” that could drive its price up to $30. This would represent a staggering increase of approximately 4,000% in the value of the cryptocurrency token. DustyBC believes that this sharp price rise will occur later this year.
DustyBC and another analyst, CasiTrades, both see bullish signs for XRP. CasiTrades describes XRP as offering a “chance of a lifetime” as it nears the end of a 2,245-day triangle pattern. She previously suggested that if XRP breaks out of this pattern, it could reach as high as $80.
CoinMarketCap data shows that the current price of XRP is $0.5277, with a 1.48% increase from the previous day. However, over the last week, the token has been on a downward trend, with a 0.18% decrease.
In addition, Ripple’s plan to release 400 million tokens in the largest monthly XRP dump since 2017 has already been reported by CNF.
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