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COINTURK NEWS > Ripple (XRP) > XRP Anticipates a Massive Upswing Amidst Increased Token Burning 
Ripple (XRP)

XRP Anticipates a Massive Upswing Amidst Increased Token Burning 

In Brief

  • Despite Bitcoin‘s (BTC) drop to $30,700 causing a market-wide downtrend, positive developments for Ripple‘s XRP continue to surface. Over the past 24 hours, BTC has depreciated by 0.7%, dragging XRP down by 0.3%. Nevertheless, according to a prominent analyst, a significant development for XRP in the last 30 days could create a critical situation for […]
İlayda Peker
İlayda Peker 2 years ago
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Despite Bitcoin‘s (BTC) drop to $30,700 causing a market-wide downtrend, positive developments for Ripple‘s XRP continue to surface. Over the past 24 hours, BTC has depreciated by 0.7%, dragging XRP down by 0.3%. Nevertheless, according to a prominent analyst, a significant development for XRP in the last 30 days could create a critical situation for its price. 

Contents
XRP Community ExcitedXRP Coin Reviews

XRP Community Excited

The XRP community is thrilled with the recent findings shared by 24HRSCRYPTO, a crypto analyst well-known among XRP enthusiasts. Apparently, XRP’s daily burn rate has significantly increased over the past month. Just 30 days ago, XRP’s total supply was 99,988,863,851, and it has now decreased to 99,988,616,835, indicating that 247,016 XRP tokens have been burnt. An average of 8,233 XRP tokens burned daily is the primary factor exciting the analyst. The XRP burn rate has seen a significant increase compared to previous months. 

Moreover, the XRP burn rate has been stable and continually increasing compared to previous months. The amount of XRP burnt recently is twice that of the previous month, implying that more XRP will be burnt each month for investors. 

XRP Coin Reviews

In a statement, the renowned analyst expressed that as the daily burn rate increases, the XRP price will eventually benefit. According to the analyst, a $100 XRP price appears to be an inevitable consequence. As the supply of XRP decreases and demand increases, the analyst believes the price will rise, underlining that $100 is a long-term target. 

A critical resistance for XRP in the short term is known to be $0.49, a highly crucial level for XRP price. Following that, $0.51 and $0.66 will be the next significant resistance levels. If the lawsuit eagerly awaited by XRP investors concludes with positive news, everything could develop much faster than expected, and a record-breaking explosion could occur. 

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 5 July, 2023 - 9:49 pm 5 July, 2023 - 9:49 pm
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