- One analyst has predicted the price of XRP to reach $28 in the next price cycle
- Ripple has expanded the utility of its XRP digital currency
A recent look at the XRP/USD hourly chart indicates that despite XRP’s current bearish position and continuous reports of dumps, one digital currency analyst and XRP bull believes that the price of Ripple’s XRP will hit the $28 mark shortly. After dropping under the $0.25 psychological level recently, the price of XRP has fallen further. As of press time the price of XRP is trading at $0.22. But despite these unique circumstances, one analyst has given an unusual XRP price prediction. Recall that in the fall of 2017, this XRP price prediction issued by the analyst was the price position from which the XRP token rushed to the $3 position. Now, one crypto analyst has suggested that the value of XRP will likely reach the $28 position in the coming cycle. He seemed positive even though others have continued to point out to dumps of the digital asset.
Recently Ripple has Facilitated the Expansion of XRP’s Utility
It is no secret that Ripple has recently been stretching XRP’s utility. This has been done to offer more liquidity for XRP. Particularly, XRP’s liquidity index on Bitso has posted all-time highs. Another example is XRP’s ledger transactions that have recently reached all-time highs, ahead of LTC, BTC, ETH, and BCH. TransferGo the Ripple-powered remittance company, is planning to offer payment solutions to South-East Asia, Latin America and Africa with the RippleNet product and the XRP token.
XRP (XRP) Price Today – XRP / USD
Despite the negativity surrounding XRP news so far this year, crypto analyst @vajolleratzii remains bullish on the asset. The expert is positive that XRP will bounce back despite its current price. Which is why he declared that XRP price will reach $28 in the coming cycle. According to another prediction, XRP is expected to reach $40,000 in the long-term.
Recall that we earlier reported that The Whale Alert Twitter account spotted transactions that involved the transfer of $11 million in XRP from an unknown crypto wallet to Bitstamp. At the time of the report, under the comment thread of the Whale Alert, many members of the community were talking about a fresh XRP dump. Additionally, huge amounts of XRP have been regularly withdrawn from escrow by Ripple. Experts believe that the large sums of XRP that have been sent to exchanges is what’s holding the price of the coin down.