Surprising analysis for Ripple (XRP): "It could reach $60 overnight!"

Can Ripple (XRP), closely followed by crypto investors, reach $60?

Versan Aljarrah, the founder of Black Swan Capitalist, made surprising predictions about the future price of XRP on social media platform X. As of October 23, XRP is trading at $0.5481 and maintaining its sideways movement from last week. However, the popular altcoin has declined by 6% compared to a month ago, and 10% in the last 60 days. In contrast, Bitcoin gained 12% during the same period.

Despite XRP's low performance, comments from analysts have given hope to investors.

"They will have to turn to XRP"

According to Aljarrah, XRP could soon experience a significant price increase, and the biggest factor behind this will be an upcoming supply shock. Currently, the circulating supply of XRP is known to be 56.71 billion tokens. However, Aljarrah suggested that this amount may be insufficient, especially with the increasing demand from whales.

Aljarrah also noted that institutions seeking liquidity against the weakening US dollar will have to turn to XRP. According to him, XRP is entering a process where it will become a necessity to stabilize currencies and economies, manage global debts, moving away from being a speculative asset.

$60 target surprised

Earlier this month, analyst Levi Rietveld also shared his view that the supply shock could push the price of XRP up to $60 "overnight." Rietveld argued that such a scenario could happen if XRP takes over a portion of the global payment network SWIFT.

According to Rietveld, if this happens, institutions will need to buy a large amount of XRP. However, due to the locked tokens held in escrow, the market supply will be insufficient, leading to a rapid increase in prices.

This article does not contain investment advice or recommendations. Every investment and trading action involves risk, and readers should conduct their own research when making decisions.