HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

XRP Has Been Predicted To Crash To $0 By February 2020 – How Possible Is It?

Altcoins 2019/11/28 09:36 by Tolu
XRP Has Been Predicted To Crash To $0 By February 2020 - How Possible Is It?

Ripple’s XRP has not exactly had a great year and by most standards, it has significantly underperformed. Even though it’s still the third-largest asset in the crypto market ranked by market capitalization, the XRP community has seriously expressed their displeasure about the coin’s progress (or lack thereof). Now, reports have added to XRP’s woes, as a recent forecast has put XRP’s price at $0.00, as early as February 2020.

Popular economist Alex Kruger has described XRP’s near future in a recent tweet. With a calculation done via a linear progression, Kruger has pronounced that XRP will fall flat by next year.

At irregular intervals this year, Ripple has consistently “dumped” very large amounts of XRP, an action which many consider as the main reason for the asset’s failure to enter any semblance of a bull market this year. In addition, there are still conversations being held about whether or not XRP should really be categorized officially, as a security.

Market records show that there isn’t much interest in the asset as well. The third-largest cryptocurrency in the market should move more volumes but in the last 24 hours, data from CoinMarketCap shows that XRP has only recorded $1.61 billion in volume, seriously paling in comparison with ETH at $8.8 billion and Bitcoin pulling in more than $24 billion.

Interestingly, this figure on Monday shockingly crossed the $9 billion mark with no one able to properly explain how such a feat was achieved. However as much as volumes rose, prices didn’t.

One of the things going well for the asset right now is Ripple’s On-Demand Liquidity (ODL). Using XRP has a link between two fiats, some institutions currently a part of RippleNet, are using ODL to make cross-border transactions significantly more effective, cheaper, and a lot faster.

While it cannot currently be confirmed that the linear progression explanation will come to pass, Ripple’s ODL-related moves have also done next to nothing, to help the XRP’s price.

The post XRP Has Been Predicted To Crash To $0 By February 2020 – How Possible Is It? appeared first on ZyCrypto.

0 Like(s)



You should also read...

Altcoins 18/11/19 21:30 by Brenda Ngari
XRP Fails To Rally As Ripple Scores Another Huge Remittance Deal; What’s Next For XRP Price?
The Swell Conference, which is notably the largest event organized by Ripple, was held in Singapore earlier this month. Historically speaking, this event has ignited a rally for Ripple’s digital ass...
Read More
Altcoins 27/11/19 21:33 by Christine Vasileva
XRP Price Could Go Down to $0 by Next February: Alex Kruger
A model on XRP price development predicts that the ‘crypto-asset’ will go to zero by next February. Ripple’s XRP has underperformed, and plotting a linear regression predicts more cr...
Read More
Altcoins 14/03/20 09:38 by Mr Oak
Why Ripple’s XRP Usurping Ethereum In 2020 Is Highly Possible
Ripple’s XRP and Ethereum have been rivals ever since the former debuted on the cryptocurrency scene. Both coins have been tipped over the years to overthrow Bitcoin as the largest cryptocurrency i...
Read More
Altcoins 20/05/20 14:48 by Nick James
Ripple Exec: Continuous utility will foster ‘liquidity depth and market health’ around XRP
Ripple is no doubt one of the biggest players in the advancement of blockchain technology especially in regard to the development of payment solutions that have significantly driven down the cost of ...
Read More
Altcoins 09/08/20 23:00 by Tony Spilotro
XRP Fractal Evokes Flashback of Crypto Bubble Bitcoin Outperformance
XRP over the last month had some of the strongest week over week performance in the space. The third-ranked altcoin rallied by as much as 45% in one week, outperforming the rest of the entire crypto m...
Read More