The $XRP price “explosion” will “exceed all expectations,” predicts the crypto influencer

A popular cryptocurrency influencer recently predicted that the price of the XRP Ledger’s native token, $XRP, will experience an upward explosion that will “exceed all expectations.”

In a post on microblogging platform X (formerly known as Twitter), influencer John Squire noted that he believes the price of will amaze market watchers.

Do people even realize that $XRP has been in an accumulation phase for probably about 6 years?

The explosion will exceed all expectations.

— John Squire (@TheCryptoSquire) September 12, 2023

Traditionally, an asset’s accumulation reflects a period of sideways or minor price fluctuations that follows a significant upward or downward trend. XRP’s history dates back to its meteoric rise in 2018, when it recorded a remarkable all-time high of over $3.

The price of the cryptocurrency has fallen and is currently trading at $0.479 per token. This makes it the sixth-largest digital asset by market capitalization, above Cardano ($ADA) and below the stablecoin $USDC.

Institutional investors in particular have been betting on XRP, with investment products focused on the token seeing inflows of $700,000 last week, while cryptocurrency investment products as a whole saw outflows of $59 million over the same period were recorded.

The rising interest in the cryptocurrency began after a ruling by Judge Analisa Torres in the US Securities and Exchange Commission (SEC) case against

The ruling led a number of cryptocurrency exchanges, including Coinbase, Kraken and Gemini, to relist the token, significantly increasing its liquidity.

The XRP Ledger’s transaction throughput could soon increase from around 1,500 transactions per second to an impressive 3,400 transactions per second (TPS), supported by upgrades set to roll out soon.

As CryptoGlobe reported, XRP token holders could soon be able to earn on-chain income following the introduction of the highly anticipated XLS-30d amendment, which brings an integrated automated market maker (AMM) trading platform onto the blockchain should introduce general ledger.

An AMM is a platform that enables permissionless trading of cryptocurrencies using liquidity pools instead of traditional order books. Liquidity pools are shared pools of two or more user-supplied tokens used for trades. The prices of tokens within the pool are determined using blockchain oracles.

Investors who add tokens to liquidity pools receive a share of the fees charged on each trade, but the earnings come with the risk of temporary loss.

Featured image via Pixabay.

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