XRP price collapsed to $0.60? Analysts warn of a sharp correction.

43% of #XRP supply remains locked up, raising fears of centralization and manipulation.
XRP price could fall to $0.60, following the historical pump-and-dump pattern.
XRP's recent 410% rise to $2.74 could face a sharp correction in the near future.
XRP is once again attracting the attention of the crypto community, not only because of the recent price spike, but also because of concerns about centralized #token supply. According to crypto analyst IncomeSharks, more than 43% of XRP tokens are locked and out of circulation, raising concerns that a drop to $0.60 is imminent.
In a recent tweet, IncomeSharks noted that nearly half of the total volume of XRP remains locked; #Ripple , the company behind XRP, controls 38.9 billion tokens in an escrow account. This level of centralization has raised concerns among investors about the possibility of manipulation.
Imagine getting on Pumpfan and seeing that the developer owns 43% of the shares, the analyst noted, drawing parallels to highly centralized tokens that often raise concerns about manipulation.
To back up his criticism, IncomeSharks shared a chart showing the historical price trends of XRP. The chart shows a familiar pattern: rapid price spikes followed by sharp corrections. In April 2021, XRP soared to nearly $2, but lost 75% of its value within two months.
Similarly, after reaching $3.40 in 2018, the token quickly fell in price by 92%, suggesting that its price is heavily influenced by speculation.
XRP recently jumped to $2.74, a staggering 410% in just one month.

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