9.2 C
November 30, 2020
Image default

Why doesn’t this analyst see Ripple’s XRP hitting $ 1 soon?

Analyst Timothy Peterson said Ripple’s XRP is unlikely to reach $ 1

An investment analyst, Timothy Peterson said that Ripple’s XRP is unlikely to reach $ 1, let alone $ 10. The analyst who uses value estimates to project the future performance of digital assets based on adoption and user interest said the number of users on your network is not improving, which means that XRP may not grow much more than it currently does.

In addition, he said that XRP is one of Grayscale’s smallest funds, which means that investors are also not as interested. In addition, as central banks are beginning to consider digitizing their fiat currencies, Peterson says this poses a threat to XRP, as it is used primarily for international remittances, for which the digital fiat can be easily used.

“#Ripple $ XRP may never reach $ 1, let alone $ 10. User growth just doesn’t exist and digital fiat is a threat. It is one of the smallest funds in Grayscale, so there also doesn’t seem to be much interest from investors, ”he wrote on Twitter.

A blow to the “XRP army”

Although XRP has not done very well in recent years, it does have one of the most dedicated fan bases, known as XRP army. These enthusiasts believe that the XRP will one day reach a new record, despite its poor performance in the current market. Peterson’s prediction must be a major blow, and while it may be difficult to convince them otherwise, his predictions have proven to be reliable in the past.

Peterson had previously predicted that Bitcoin would return to $ 10,000 before the end of August. Bitcoin’s price was above $ 10,000 a few weeks after the forecast was made, with several weeks to go until the end of the projected period. He also predicted that Bitcoin will never fall below $ 10,000 again. Although this has not yet been tested, chances are that, with the current market scenario, Bitcoin would rather rise than fall, at least in the short term, as bulls are resisting bears.

XRP is currently one of the top ten cryptocurrencies in the green, as the market is starting to recover from the bearish trend of the past few days. The price is still above $ 0.25, which is a critical level, but how long will it last?

Source: ZyCrypto

Related posts

McAfee returning to the Ghost Coin project?

Anupreet Kaur

Ripple’s CTO: XRP is completely ecological, unlike Bitcoin and Ethereum

Anupreet Kaur

AdEX arrives on Probit’s exclusive pre-sales platform

Anupreet Kaur

Leave a Comment