Many people didn’t expect XRP to reach its high of USD 0.78. Ripple’s 20K event was a break in the psychological price of USD 1. Unfortunately, the price adjustment in the entire cryptocurrency market was accompanied by many bad fundamentals led to a fall in XRP. We will discuss 3 reasons why XRP is poised to see a lower price and a de-mooning phase.

1. Prediction of XRP’s Price
2. Ripple is being SUE
3. Traders
4. Centralization Dilema

Prediction of XRP’s Price

In a previous article we warned investors and traders to be aware of a possible drop in price to USD 0.42. A potential rally in prices was also discussed, with XRP breaking USD 0.62 in the event of a “20k” event. The XRP price did exactly what was predicted and is now back in its original downtrend.

If XRP’s price breaks the lower triangle side, it can be expected that the price will fall to USD 42 cents. This is provided that there is some support from BTC or other cryptos.

Here are 3 reasons why XRP prices are poised to drop further.

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Ripple is being SUE

Yesterday, Ripple CEO Brad Garlinghouse said that they would be sued by The SEC. This is a shocking revelation, as the SEC announced that Ripple was selling “securities” and not being licensed.

This shocks many as Ripple has been in the spotlight for years without being secretive. It’s not that Ripple just appeared suddenly; they’ve been around for years. So why this sudden attitude towards Ripple?

Ripple’s future is determined by the final verdict. There are many scenarios in play.

  • Pay damages and settle – End of existence (reminisce about Bitconnect era).
  • Post-lawsuit, change their business plan.

Traders

There are many traders who sell XRP. Many traders bought large quantities of XRP when the airdrop was announced. Many traders sold their XRP on December 12 after receiving their tokens and switched to other coins.

This event was also discussed here at CryptoTicker where we warned about a heavy selloff after the airdrop.

Centralization Dilema

Ripple is still a CENTRALIZED business with a centralized backing and centralized operations. At their core, cryptocurrency is all about DECENTRALIZATION. Many central cryptocurrency companies tried to exist, but it ended badly for all holders of those centralized coins.

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We can’t forget the important events at BITCONNECT. This was a centralized company that makes high claims about its dead coins.

 



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