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Cryptocurrencies Price Prediction: Polygon, Ethereum & Ripple — Asian Wrap 20 June

Cryptocurrencies Price Prediction: Polygon, Ethereum & Ripple — Asian Wrap 20 June
FXStreet TeamFXStreet TeamFXStreet

Why Polygon is at risk of turning into a worthless penny stock

Polygon (MATIC) price is set to book its eighth straight week of losses, even eleven if you do not count the marginally profitable week from mid-April. MATIC price already trades in cents, once the defense breaks, it could even be trading in tenths of a cent. With that, MATIC price could become worthless and obsolete.

Why Ethereum price will need to bite through the sour apple

Ethereum price is already too far gone in the new area for recovery. ETH price will drop 50% before founding essential and strong enough support to halt the descent. Expect an L-shaped to W-shaped recovery, as current tail risks will linger for some time. 

Why Ripple needs another 50% correction before investors will think about returning

Ripple price sees massive outflows of funds as the demand-side dries up. XRP price is too far off from the upper barrier to make a return and can only go one way down. Expect another 50% drop to $0.173 before a bounce-off and turnaround could be triggered.

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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