Your favorite crypto news blog

XRP Price Could Go Down to $0 by Next February: Alex Kruger

Altcoins 2019/11/27 21:33 by Christine Vasileva
ripple xrp price going to zero

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 crashes to a lower price range.

Ripple’s Token Not Only Stagnant but Erasing All Value

XRP is one of the assets that has remained stagnant in 2019 and unraveled further in the past month. Currently, the asset is at $0.21, still very far from the outlandish price predictions for a hike to a few dollars.

There is no telling if Ripple’s token would behave according to the linear regression model. But the asset has lost credibility, and there are no forces to lift the price.

XRP is no stranger to rock-bottom prices, where it stood for years before the spectacular rally in 2017. But since then, the asset’s promise of displacing Bitcoin has not materialized. Banks only adopted it as a test, and the Ripple Net system does not need the token to function.

Even having a presence on Coinbase has not awakened mass interest in XRP. Additionally, parts of the community are downright hostile to Ripple, Inc., suggesting XRP was pushed too aggressively. XRP is yet to receive clarity on its status as potentially being unregistered security.

XRP Rogue Volumes Fail to Lift Price

At this point, the token may start recovering in case speculative interest returns. But Korean volumes, which boosted the asset in the past, have almost disappeared. XRP also boasts relatively low liquidity of $1.55 billion in 24 hours, despite being a top 3 asset.

During the recent price drop, XRP fell way below the $0.25 mark that was seen as a bounce area and slid as low as $0.21 before bouncing a cent.

The XRP market also saw a trading anomaly this Monday, with volumes exceeding $9 billion, with no clear explanation. But the rally did not manage to lift the price.

The token has multiple holders beyond Ripple, Inc., which attempts to limit the selling from its escrow account. But there are still multiple receivers of coins which may decide to liquidate. A still undisclosed agreement with R3 may add to the selling pressure, as well as partially the reserves of former developer Jed McCaleb.

XRP hardliners, however, see the asset at $0.20-$0.22 as an investment with high potential returns. XRP still may get a boost from expectations of returning toward $1 in an unpredictable scenario.

What do you think about the chances of XRP price to go to zero? Share your thoughts in the comments section below!

Images via Shutterstock, Twitter: @krugermacro, @JayedMartian

The post XRP Price Could Go Down to $0 by Next February: Alex Kruger appeared first on Bitcoinist.com.

0 Like(s)

You should also read...

Altcoins 22/11/19 14:50 by Emilio Janus
What Tone Vays Hates Most About Ripple’s XRP Token
If you’ve been following veteran cryptocurrency trader and analyst, Twitter or dumps a billion more of them on the market. The ongoing lawsuit is expected to continue on December 4th, when Rippl...
Read More
Altcoins 28/11/19 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 capi...
Read More
Altcoins 01/12/19 13:29 by Christine Vasileva
1 Billion XRP Worth $225M Released from Escrow; Still OK to Hold Ripple’s Token?
Ripple, Inc. unlocked its monthly escrow, raising more questions about the performance of XRP. Over the course of 2019, the token has underperformed, also losing hopes of an end-of-year rally. XRP Lo...
Read More
Altcoins 27/04/20 22:00 by Tony Spilotro
Powerful XRP Fractal Points To Redemption Rally, Start of New Uptrend
XRP is yet another cryptocurrency that has been relatively stagnant. But just like another altcoin that is very closely related to the number three ranked crypto asset that recently saw a strong surge...
Read More
Altcoins 04/08/20 03:00 by Tony Spilotro
Short-Term XRP Target At 40 Cents, What Ripple’s Long Road To Recovery Looks Like
After spending over two years running atop the worst crypto market performers list, XRP has potentially begun a long-term recovery. According to technical analysis patterns and statistics, a short-ter...
Read More