A Crypto Analyst Predicts XRP Will Likely Decline Over 50%

A crypto analyst and swing trader under the Twitter username @CryptoCapo_ who predicted Bitcoin’s (BTC’s) crash this year believes that XRP is likely to be taken down by over 50%.

In spite of its recent rise, XRP remains in a downtrend, he writes to his 541,600 Twitter followers.

XRP Price

An analysis by Capo shows that XRP could plunge to its high timeframe support of $0.20. “$XRP” tweeted him.

At the time of writing, XRP price is at $0.454 and up 2.62% in the last 24 hours with the current market cap over $22 billion cited to CoinMarketcap.

Read More: Robert Kiyosaki Wants You To Buy More Bitcoin As He Predicts Dollar Will Crash

“With a 26B volume per 24h , I personally don’t see xrp going there, maximum 0,31-0,32$,” said one Twitter user commenting on Capo’s post. 

Last day, XRP was trading at $0.447, down over 5% from the previous day’s price. It has increased nearly 40% from its 30-day low of $0.32 but remains more than 86% below its all-time high of $3.40.

Predicting Another Altcoin

The trader’s radar also includes Stellar Lumens (XLM), a crypto asset that enables international money transfers between two fiat currencies. XLM is setting up for a quick rally to $0.16 before resuming its downward trend, according to Capo.

“Long on $XLM, risking 1R. R/R = 5,” tweeted Capo.

“During these conditions selling as much as possible is not absolutely one of the best move. It’s a good idea to look closer, basically all big losses can be made during this kind of strange market conditions,” said one Twitter user. 

At the time of writing, XLM is changing hands for $0.116.

Also under review by the analyst is Reserve Rights Token (RSR), a cryptocurrency designed to maintain the stability of the asset-backed stablecoin called Reserve Token (RSV).

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“Support to resistance flip of the previous key level. Next target is $0.012, but main target remains $0.017. I haven’t taken profits yet, just trailing the stop in profits,” tweeted him.  

At the time of writing, RSV is valued at $0.997.

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Jamilatul Mahmudah

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