The Ripple Labs Inc (CRYPTO:XRP) community was pleasantly surprised after popular crypto analyst and influencer 24HRSCRYPTO dropped a series of tweets revealing a strong surge in the daily burn rate of XRP. The tweets hinted that the possibility of reaching $100 per XRP is now “inevitable.”
The analyst’s reasoning starts with the fact that in just 30 days, the total supply of XRP has dwindled from 99,988,863,851 to 99,988,616,835, with 247,016 XRP burned out. This implies that roughly 8,233 XRP is being burned per day, bringing us closer to a future where the XRP market may undergo a transformative and unprecedented shift.
For the past month, the XRP burn rate has demonstrated remarkable consistency, suggesting a possible bullish trend. What’s more, the recent burn of 247,016 XRP is a significant surge compared to the previous month’s data, as documented by 24HRSCRYPTO.
The crypto analyst has been consistently monitoring the burn rate of XRP for about five months and has kept the community up-to-date since then. In the past five months, the average daily burn rate had been around 2,800 XRP, but the recent spike may indicate a potential change in the pattern.
According to the latest burn update, it seems that these figures may increase even further and possibly reach new heights daily as trillions of dollars continue to pour into the market.
However, the crypto-analyst did mention a potential decline in the burn rate when the value of XRP eventually spikes. Despite this prediction, the tweet confidently claims that the ultimate outcome will be XRP skyrocketing to $100 per token, paving the way for an exciting and potentially lucrative future for XRP investors.
“That number can change to 5k, then 7K per 24HRS as the trillions flow in. However this number will DECREASE when the value of XRP goes up, so $100 per XRP is inevitable.
I’ve been tracking this…”
Price Action
The value of XRP, currently over $25 billion, has gone down 2.30% today. However, its value has increased by 0.09% over the week and is currently being traded above the $0,476 level.
Disclaimer: This content provides information and is not intended as financial advice.
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