XRP Price Prediction: $0.05 Massive Dump
Is Coming! Will Ripple Quit the Crypto Rally?
Ripple
continues disappointing traders as their XRP price predictions don’t actualize
at all – vice versa, it keeps falling and breaking newer and newer support
levels. By touching the $0.30 level, it has broken the hopes of many investors,
and it doesn’t seem to stop its epic fall to zero. Read XRP price predictions
from tradingview users to find out what else to expect from Ripple.
By
taking a look at XRP, TradeWithTyler has concluded that it’s going to $0.05 in
the nearest time. What are the reasons for that?
Regulation.
No government in their right mind is going to let XRP come in and disrupt their
central bank's entire payment processing current operation (USD, Swift) – it's
just not going to happen in this day and age. Instead of using XRP, they will
continue to use dollars and just modernize the processing to be instantaneous.
Inflation.
XRP is highly inflated and many people holding billions of coins in wallets are
ready to dump at a moment.
Lack
of transparency. XRP has never been audited legitimately, so we do not
technically know who exactly owns all the top wallets. According to an analysis
performed by BitMEX, Ripple has been unable to retrieve the first 32,570 blocks
from the Ripple ledger and none of the nodes could repair or obtain the data.
This means that Ripple cannot complete an audit of their blockchain, nor a
transactional analysis of the 100 billion XRP coins. Therefore, XRP claims it
can never be audited, and basically can never be trusted by any major
organization or corporation, so it will simply be left in the dust.
Evidently,
Ripple has a few technical shortages that play a major hindrance to its massive
adoption.
XRP:
Either $0.15 or $0.50
According
to PeacefulWarrior, there are two main scenarios for XRP. Either it will
confirm the continuous failing and head to the $0.15 mark, or it will break the
support level and crawl to the $0.50 level. The chances for that seemed to be
equal until now. However, there’s still hope until XRP touches the $0.29 level.
Do or die
strategy should be applied
Faibik has performed a
bit of technical analysis and has come to a few solutions. First, the weekly TF
is around the strong support area and we should keep tabs on it. There might be
a bounce back if people continue holding Ripple. If not, it can die within a
few weeks. If things go well, we might see XRP reaching $0.64 this spring.