XRP has been in focus lately due to its technical setup and potential for a significant price movement. The token's price is currently trading near $1.39, which some analysts believe could be a reset point for the cryptocurrency.
A monthly chart shared by an analyst suggests that if XRP's current support level holds, it could lead to a move towards $3, followed by a stronger cycle extension that pushes prices into the $5 to $8.50 range. However, critics have been questioning the growth of XRP's supply and whether it will continue to limit the token's price.
The debate over XRP's valuation has also sparked criticism over its tokenomics and supply expansion. Some users have pointed out that XRP has yet to break above $4 in a sustained manner, while others argue that its long-term utility and potential for renewed demand could drive prices higher.