For many, XRP reaching its high of USD 0.78 wasn’t the big awaited milestone. Ripple’s “20K event” was a break of the psychological price of USD 1. Unfortunately, many bad fundamentals came to play, in conjunction with a price adjustment in the whole cryptocurrency market. In this article, we will discuss 3 reasons why XRP is poised for a lower price and an upcoming de-mooning phase.
XRP Price Prediction – CryptoTicker’s Bullseye
In a previous article, we did warn traders and investors to beware of a price drop to USD 0.42. We also mentioned a potential rally in prices, where XRP is breaking USD 0.62 in case of a “20k event”. Well, the XRP price did EXACTLY what was predicted, and today is back on its original downtrend.
If the price of XRP manages to break the lower triangle side, we can expect the price to fall all the way to the next support area of USD 42 cents, provided that we have a kind of support from BTC and other cryptos.CryptoTicker’s previous article – by Rudy Fares
Without any further ado, here are 3 REASONS why XRP price is poised for a further decrease in prices:
1- Ripple is being SUED
Yesterday, Ripple CEO Brad Garlinghouse announced that they will be sued by the SEC. This comes as a bombshell, as SEC announced that Ripple is selling “securities” without being licensed to do so.
This of course comes as a shock to many, as Ripple has been operating for YEARS, under the light of the US market without being secretive about anything. It’s not like the company popped up suddenly, rather they’ve been in the spotlight for years…Why this sudden stance towards Ripple?
Ripple’s future will be determined as the final verdict comes in with different scenarios at play:
- Settle and pay damages
- Cease to exist (reminisce of Bitconnect era)
- Change their business plan post-lawsuit.
2- Many traders selling XRP
When the airdrop was first announced, many traders rushed to hold XRP and bought large quantities, to benefit from the airdrop that XRP holders would receive. On December 12, after receiving their tokens, many traders sold their XRP and moved to other coins.
This event was also talked about here at CryptoTicker, where we warned of a heavy selloff post-airdrop:
In the event that the 20k race actually happens, we can then presume another rally for XRP, but this will most certainly come after the current price corrects further due to the XRP selloff that might happen post-Airdrop event today.CryptoTicker’s previous article – by Rudy Fares
3- Centralization Dilema
At the end of the day, Ripple is still a CENTRALIZED company, with a centralized backing, along with centralized operations. The main purpose of cryptocurrencies at their core is ALL about DECENTRALIZATION. Many centralized cryptocurrency companies tried to exist, and things only ended badly for all the holders of those centralized coins.
We cannot forget the major events of BITCONNECT, a centralized company with high claims about its dead coin.
Stay Ahead, Stay Updated
Follow CryptoTicker on Twitter and Telegram for daily crypto news and price analyses!
XRP price prediction – The BIG DAY is here, What will happen to Ripple?
Ripple Price Prediction – How High will XRP reach in 2050?
BREAKING NEWS – XRP price dips below 40 cents, will Ripple manage to fight back the SEC?
Ripple (XRP) News Ticker – CryptoTicker
Ripple Price Prediction – How High will XRP Reach in 2025?
Bitcoin price falls 16% in less than 24 hours – Is this the end of the Uptrend?
Bitcoin Price Halts – Did the Adjustment KILL the Strong Momentum?
Ripple soars 140% this month – 3 reasons why XRP is mooning
The Big Ripple Price Prediction for 2023 – How high can the XRP price go in 2023?
DON’T BUY BITCOIN! 3 reasons why it’s too late and waiting is a Good Idea
Ripple Price Analysis: XRP Price Skyrockets 25% in 24 Hours
Big News: Ripple Price is about to TRIPLE? This News Confirms…
Breaking News – Bitcoin broke USD 24,000…Should you sell BTC?
XRP Price Prediction – How is Ripple STILL ALIVE? UP 50% in 7 days
Ethereum price is THROUGH THE ROOF! What’s going on with ETH
Shiba Inu to Reach 1$ soon? This New Upcoming Development Proves it Right
Ripple is back to the Moon? Up 30% to surpass 40 cents!
Top 4 Upcoming Airdrops – July 2021
BREAKING NEWS – XRP Price reached USD 17 cents, will it become worthless?
WallStreetBets targets XRP, Prices soar 160% in 7 days – What about the lawsuit?
BIG XRP Price COMEBACK, Up 40% in 2 days – Is it safe to own XRP again?
You might also like
More from Ripple
XRP Price Prediction for June 2023: XRP Price at 1$ or $0.20?
XRP price in the second quarter looks positive. But what is the Ripple (XRP) forecast for next June? We analyze …
XRP Price Prediction: Ripple’s Expansion Plan confirms XRP price at 3$?
This XRP price prediction article explores the impact of Ripple's growth strategy on the XRP price and the positive regulatory …
XRP Price Prediction: Can XRP Reach 2$ once the Lawsuit Is Officially Won?
Can XRP reach $2 once the lawsuit is officially won? Let's analyze in this XRP price prediction and lay out …