XRP Price Plummets Below $1.40 Amid Analyst's $60 Prediction
XRP's price fell below $1.40 on Thursday, down 3.24% to around $1.35. This move pushed the token below a key support level that buyers and sellers had been fighting over in recent weeks.
Analyst Ali Martinez believes that if XRP closes a monthly candle above $3.66, it could reach a price of $60. However, reaching this target would require a significant increase from current levels, with a potential jump of almost 4,000%.
Ripple CTO David Schwartz stated that XRP could potentially overtake Bitcoin in market value, but noted that this would happen due to faster growth rather than a decline in Bitcoin's value. He attributed the potential for future growth to the XRP Ledger's speed and range of functions.
The XRP Ledger is also moving towards its next major upgrade, with XRPL 3.4.0 currently in beta testing. The update will include Lending Protocol v1.1, which will add to the network's decentralized finance tools. A voting process for a related amendment is ongoing, but it still requires 80% support to activate.