CandleFocus XRP Predicted to Drop Back Below $0.6 by Major Analyst
2024-12-03
Author: Content Editor
Pseudonymous user IncomeSharks predicts a major price correction for XRP, suggesting it could drop below $0.60. They point out that nearly half of XRP's tokens are not in circulation, with 38.9 billion held in escrow accounts. Despite reaching a new multi-year high of $2.81, XRP's meteoric rise is attributed to factors such as regulatory approval of Ripple's RLUSD stablecoin and the potential launch of an XRP ETF. Strong buying interest from South Korea has also contributed to the rally. The XRP community speculates whether the token could surge to $100, but the token has attracted significant short interest due to its history of dramatic crashes.
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