Ripple’s native token, XRP, reached the $2.6 mark on Wednesday after surging 8% over the past week. The leading altcoin has been on a slippery slope for a month, gradually falling to the $2.4 level every time it climbs above the $2.6 range. A latest price prediction estimates that XRP could fall to the $1.90 level by the year end in December
Also Read: Ripple (XRP) Could Skyrocket This November, Here’s the Target Analysts See
Ripple (XRP) Predicted To Fall to $1.90 in December
Leading price prediction firm Traders Union has predicted a bearish scenario for Ripple’s XRP. According to the price prediction, Ripple’s altcoin has more to lose than gain in the next two months. The forecast also indicates that the leading altcoin will remain on its back foot till December. The price stagnation and correction is healthy as the altcoin spike 450% in a year.
The latest and revised price prediction estimates XRP to reach a low of $1.90. That’s a dip of close to 27% from its current price. The forecast also predicts the altcoin could hover around the $2 mark by the year end. The Ripple’s native token could face massive selling pressure if its price falls to the $1.9 range.
Also Read: Multi-Millionaire Tells XRP Investors: I Told You So, Price Rising
Therefore, taking an entry position now could lead to losses and erase the investor’s money. It is best to avoid XRP currently, as investors are also indulging in sell-offs and profit-bookings. Solana (SOL) and Binance Coin (BNB) are alternative investment options that have better chances of generating returns.
On the flip side, long-term traders can make the most out of the downturn. If XRP falls to the $1.9 levels, it would be the best buying spot, and its price is ready to bottom out. Accumulating the token at these levels could deliver better profits when it kickstarts another rally.
Credit: Source link
