There will be another level increase. It's been stated.
Most likely it will be more of the same. They will sell vendor gear that gets us to level 33 and we will have to work for 34-35 gear.
If this is not for you, you should probably quit now.
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Also why would Xur not sell 3.0 exotic upgrades? Derp. Look at how it is set up now: - weapon (no specifics)(no requirements) - glimmer - exotic shard If they do this again, there is no reason a 1.0 or 2.0 exotic won't be upgradable