More

    XRP Crashes To A New Two-Year Low But Trader Says Another 44% Drop Still A “Buy”

    Because “even the best have to rest.”

    • XRP price drops to $0.192 level
    • However, buy target still between $.10 to $.15
    • After 36,000% gains, it takes “a little longer than the rest to get ready for the next round”

    XRP price has dropped below $0.20, going to $0.192, a level was last seen in early November 2017, just before the digital asset climbed to its all-time high.

    The third-largest cryptocurrency is currently trading at $0.194, down 8.78% in the past 24 hours as per Coincodex.

    This drop came on the back of BTC falling 5.50% that pushed altcoins for even a bigger drop. Other coins like Ethereum, Litecoin, BNB, Stellar Lumens, Link, and IOTA are doing worse than XRP, down 10-13%.

    XRP price is down 95% from ATH, Source: TradingView

    “Did you seriously think you could escape fate?,” is the analyst DonAlt’s response to the drop in XRP price. However, If this week closes above the green, DonAlt will “probably punt a long here.”

    In the BTC market, XRP is down over 67% in the past year. However, according to trader Credible Crypto, another 44% drop from here would still be a good buy opportunity. In USD terms, it would put the digital asset at $0.15 ish. Overall, it depends on how low BTC goes.

    Analyst Jacob Canfield also has the same buy target between $.10 to $.15. However, “even then I would be cautious,” he warned.

    However, unlike Canfield, Credible Crypto is not concerned because it isn’t surprising that the best performing coin of 2017 bull run is lagging now as it’s “not easy to digest a 1000x move to the upside, takes time.”

    With more than 36,000% gains, XRP was the best-performing asset of 2017 which gives it a pass to “take a little longer than the rest to get ready for the next round,” he said.

    Moreover, the trader points out that one would still be up 3x in USD terms “had you invested in XRP over BTC prior to the last bull run, even at its current state.”

    He further clarifies that it is a long term accumulation and not a trade.

    Ripple (XRP) Live Price

    1 XRP/USD =$0.1794 change ~ -1.74%

    Coin Market Cap

    $7.77 Billion

    24 Hour Volume

    $186.89 Million

    24 Hour VWAP

    $0

    24 Hour Change

    $-0.0031

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    AnTy
    AnTy
    AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,366FansLike
    2,783FollowersFollow
    4,136FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    National Internet Finance Association of China Warns Against Manipulative Crypto Exchanges

    The National Internet Finance Association of China(NIFA) has issued a warning for investors who have been associated with the crypto-verse about the growing risks...

    Cash is King in Coronavirus Ravaged Economy But Bitcoin is “Next in Line to the Throne”: Hedge Fund Manager

    Mark Yusko, the CEO at Morgan Creek Capital Management says coronavirus is unleashing a once in a lifetime downturn. Yusko appeared on CNBC’s “Trading Nation”...

    Bitcoin’s is Gold 2.0; Billionaire Chamath Palihapitiya Lays Out BTC’s Path Forward in Macro Backdrop

    In the latest episode of The Pomp Podcast, host Anthony "Pomp" Pompliano had Chamath Palihapitiya, the CEO of Social Capital as a guest who...

    Binance ‘Leak' Signals Possible Bitcoin Options Trading Launch On The Exchange

    The competition across cryptocurrency exchanges in the crypto derivatives markets is heating up to a boiling point as yet another big player hints at...

    BTC Isn’t a Hedge Against Stock Market’s Poor Returns or Coronavirus But US Dollar & Inflation: BitGo CEO

    In 2020, Bitcoin has been following stock markets religiously, so much so that their correlation went to a new high. But now, the flagship...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.