Ripple’s XRP could hit $0 by February 2020! This has been the warning from prominent analyst Alex Kruger. This unwelcome prediction has been based on the digital asset’s regression against time. Since its peak back at the start of 2018, the coin has been on a steady bearish run. This has reached a peak in November 2019 as XRP reached a two year low of $0.20. Based on this regression, Alex Kruger has forecast XRP could reach $0 come February 2020.
XRP In Deep Trouble
The Ripple community has in no way agreed with this prediction. The year, 2019, has been one of its strongest ones in terms of development. In spite of a lack of price movement corresponding to these developments, Ripple has been key at ensuring XRP adoption is poised to soar in the near future. One of the most key developments has been its partnership with MoneyGram. Ripple has coughed out $50 million in an agreement with MoneyGram an agreement they believe will be vital to the success of Ripple and XRP.
This deal was well received by MoneyGram as its shares soared in the days that followed. Unfortunately, the coin only experienced a fluke. It only bounced for a few hours before correcting back to its position. This has been the case all year, developments have failed to inspire long terms higher runs. And supports have failed to hold up in key moments.
Alex Kruger’s Forecast Illuminates Bearish Trend
Alex Kruger’s prediction only looks at only one side of a three-sided coin. While his prediction makes mathematical sense, it does cover the full story. For starters, several support positions, should and will hold. XRP adoption has been growing and holders will ensure prices keep looking up. Additionally, XRP bulls are looking to end the year strong, climbing above key resistances both turning a profit and evading Kruger’s prediction.
Although the prediction is not quite right and looks unlikely, Alex Kruger’s forecast has helped illuminate the bigger bearish problem with XRP. Notably, one that it has had for the last two years. If the same trend continues for another year, we could see the asset slip out from the most admired and must-have coins to another of the thousands worth nearly nothing.
Crypto analyst and Author