XRP Will Fall All the Way to $0.03, Predicts Well-Known Trader

Share Article

The XRP price has been gradually decreasing since August. It has reached a significant support area where it is currently consolidating.



On November 25, almost 50 million XRP were moved to the Bitstamp cryptocurrency exchange from an unknown wallet. This was initially expected to cause a movement in the XRP price, but nothing materialized. On the contrary, the XRP price is very gradually decreasing at the rate of a descending support line.

Well-known TradingView analyst @magicpoopcannon stated that he believes that the XRP price will eventually fall to $0.03. However, he believes this decrease is conditional on the price of Bitcoin falling to $1000.



The decrease would amount to an 86 percent drop from the current price. Let’s take a closer look at the price history and see how likely that is.

Significant XRP Price Support

Looking at the logarithmic XRP price, we can see that the price is currently inside a strong support area at $0.22.

Below, there is another support area at $0.14, followed by $0.06, created by the March 2018 highs and finally $0.03.

Therefore, for the target to be reached, the XRP price would have to break down below three significant support areas.

The main bearish indication for the XRP price is the broken ascending support line. The price validated it as resistance twice afterward.

However, on a bullish note, there is a strong long-term bullish divergence in both the RSI and the MACD. Since this divergence is present in a higher time-frame, it often indicates that an upward move will follow.

Furthermore, the daily time-frame shows that the XRP price is following a descending support line.

Additionally, the daily RSI is at 23. The only time it was lower was during August 13, when a rapid upward move followed soon.

Therefore, while it is possible that the price continues to decrease at the rate predicted by the descending support line, a breakdown seems unlikely.

To conclude, we do not believe the XRP price is likely to fall to $0.03. While the possibility is there, especially if Bitcoin goes to $1000, that also seems unlikely.

Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Share Article

Related topics

Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

Follow Author

Crypto predictions with the Best Telegram Signal with +70% accuracy!

Join now

Free Cloud Mining Providers to Mine Bitcoin in 2021


How To Mine Cryptocurrency: Beginner’s Guide

Let's Go