TL;DR
Some analysts predict a major price rally for XRP, comparing current market conditions to the 2017 surge.
The reduced supply of XRP on exchanges suggests lower selling pressure, as more investors may switch to self-custody methods, possibly supporting upward price movement.
‘Euphoric Phase’ Incoming?
Ripple’s XRP has shown quite a wobbly performance as of late, with its value plunging by 7% on a two-week scale. It reached a local bottom of around $0.50 before recovering some of the losses and rising to the current $0.53 (per CoinGecko’s data).
XRP Price, Source: CoinGecko
Some analysts believe an explosive price growth might soon replace the negative trend. The X user EGRAG CRYPTO, for instance, claimed XRP could experience a repeat of the 2017 pump.
Back then, its valuation skyrocketed from a mere $0.25 in December 2017 to an all-time high of $3.40 just a month later (a 1,250% increase). A similar bull run nowadays would result in a new peak of approximately $7.
We współpracy z: https://cryptopotato.com/ripple-xrp-could-be-primed-for-a-mega-pump-analysts-chip-in/
