Popular cryptocurrency analyst forecasts Ripple’s XRP fall to $0.03
- Magic believes Bitcoin price fall to the $1,000 range could impact XRP drop to $0.03.
- Magic says that Ripple should have made it mandatory for its clients to use On-Demand Liquidity for cross-border payments.
Ripple’s XRP is trading at $0.23 on Saturday, the last day of November, 2019. The cryptoasset has recovered slightly from the previous dive to $0.2027. However, Magic, a popular crypto analyst on Twitter spells out doom for XRP. In his latest forecast of both Bitcoin and XRP, Magic reckons that Bitcoin is going to the $1,000 range while the latter could drop to a mere $0.03.
“While I love XRP (and I do believe that it is superior to all other cryptocurrencies) if BTC falls to the 1000 range as I’m currently anticipating, I think XRP could simultaneously fall to 0.03. I hate to report that, but that’s what the charts suggest, if BTC falls to 1000.”
He finds Ripple at fault for creating payment options that do not require XRP. In his opinion, making the use of XRP mandatory could boost the value of the token. The analyst explains:
“On the topic of XRP, it bothers me that Ripple built a business model that can thrive without XRP. They could have forced clients to use ODL for cross-border payments, but clients can benefit from Ripple’s cross-border solutions without XRP. Common knowledge. I just don’t like it.
Other than that, I am a big fan of Ripple and XRP, and I think they have one of the best projects in the space.”
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
