Sirwin
Sirwin

Analyst claims XRP may never take $ 1.00 again

By CRYPTOUS | CRYPTOUS | 5 May 2020


In the aftermath of the insane bull run in 2017, XRP was consistently one of the worst performing assets in recent years. Analysts are now finding that the cryptocurrency could see another underperformance in the coming months and years, even claiming that the token may never rise above $ 1.00 again.

 

This is due to the fact that cryptocurrency is seeing declining institutional demand, according to Ripple's quarterly report on token sales.

XRP's health deteriorates as institutional demand wanes

Ripple's latest quarterly report on XRP sales indicates that sales to strategic institutional partners have decreased significantly, indicating a potential decline in cryptocurrency demand.

This happens shortly after the company announced that it would stop selling the token on a quarterly basis. News of the recent decline in institutional OTC sales led Ryan Selkis - the CEO and founder of the Messari blockchain research platform - to conclude that this was "bad news" for cryptocurrency health.

“BAD NEWS” FOR THE “HEALTH” OF THE THIRD LARGEST CRYPTOCURRENCY: + XRP SALES FELL 99% YEAR-ON-YEAR + PROGRAMMATIC SALES SUSPENDED IN THE PAST SIX MONTHS + STILL NO WORD ON INSIDER SALES ... "

Analysts don't think the cryptocurrency will ever trade above $ 1.00 again

A popular pseudonymous trader on Twitter, operating under the name "Big Cheds", recently tweeted that he believes there is a serious chance that XRP will never trade above $ 1.00 again.

“CALL ME CRAZY, BUT I DON'T THINK XRP WILL EVER EXCEED $ 1.00 AGAIN, LET ALONE $ 3.00.

He is not the only one who thinks this is a serious possibility. Another popular pseudonymous trader said similarly, saying that he tends to agree with this assessment.

“TEND TO AGREE. PUMPED TOO HARD AND TOO FAST AND EXPELLED FASTER. I BET THERE ARE SO MANY PEOPLE UNDER WATER THAT IT WILL BE HARD TO GET BACK UP FOR A WHILE. IT HAS BEEN ONE OF THE WEAKEST COINS SINCE 2017. ”

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CRYPTOUS
CRYPTOUS

blockchain is now very strong and give chance to everyone to make money so i hope to have this chance with publish0x and share all idea and content


CRYPTOUS
CRYPTOUS

News about crypto, blockchain and exchanges also about new airdrop and ICO

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