XRP Analysts Still Expect Downsides As Altcoin Drops All Of 2020

The XRP analysts still expect downsides for the altcoin, as the charts show ripple’s XRP was dropping the entire 2020 so let’s find out more in the upcoming Ripple XRP price news.

There was some hope at the start of this year that it wasn’t going to be as bearish but Ripple Labs, the company behind the asset, saw a flurry positive development while the other altcoins outperformed as a whole. Stepping back, it is clear that XRP is caught in a downtrend as one of the XRP analysts Luke Martin explained:

 “The last few months have been pretty wild for large groups of altcoins with a rise in interest, narratives, and volume. One altcoin that usually gives at least 1 pump during a time like that is XRP. But not this year…it’s been dropping all of 2020.”

There are still some XRP bulls expecting upsides but many respected analysts expect the altcoin to slide down further. Responding to the tweet, another crypto trader postulated that XRP has about 30% left to drop before it bottoms out totally. Responding to the question of “where’s the bottom” the trader said, “at 1500 sats.” This is a pivotal level for XRP over the recent years. The long-time technical analyst Peter Brandt echoed this bearish sentiment and went as far as suggesting a 90% drop:

 “Looks like Ripple Labs has blown the wad allocated to support XRPBTC at .00002060 to .0002075 levels. If ice-line cannot be reclaimed, look for new support at .0000194 on way to .0000145.”

While he didn’t predict an exact price point, Simon Dedic, the co-founder of Blockfyre said:

 “$XRP, $BCH, $BSV, $LTC and $EOS absolutely do NOT deserve belonging to the TOP 10 cryptocurrencies. Actually can’t wait until they vanish and clear the way for solid candidates.”

The fund manager said that he expects XRP To drop even further than it already has. XRP will be crushed alongside all altcoins if they all fall and some say that this is possible. Max Keiser said that zero altcoins have any value proposition over Bitcoin:

 “There is no coin out there that can do something that Bitcoin doesn’t do already or will be able to do shortly. Alt-coin and hard fork supporters are fact-resistant. I just let the market do my talking for me #Bitcoin’s market cap, hash rate, and volume all heading to 99% of ‘crypto’ market.”