The famous analyst province Capo Of Crypto, which proved to be correct by many of its predictions, made a serious fall forecast for XRP. The analyst stated that the third largest cryptocurrency could fall to the level of $ 0.05.
Htf correction doesn't seem completed.
Potential bottom: $0.05 pic.twitter.com/QUJpj4SWYw
— il Capo Of Crypto (@CryptoCapo_) May 6, 2020
According to CoinMarketCap data, XRP was trading at $ 0.215 at the time of writing. XRP has dropped approximately 2 percent in the past 24 hours. Analyst provincial Capo Of Crypto predicted the decline that will be experienced on Black Thursday in February, and was not mistaken in this forecast.
Brandt Predicts Decline
Another famous name, Peter Brandt, predicted a drop in XRP. According to him, the bulls are in a desperate situation right now, and the XRP could go down to $ 0.00011. The analyst states that this can happen when XRP whales succumb to the selling pressure and start selling what they have.
I am a fan of simplicity in a chart. This chart tells me the bag holders (who need to dump > 40 Bil XRPs) are supporting $XRPBTC at .000023 to .000024 as a desperate last stand. Sellers more aggressive since Oct '19
If the bag holders back away, look for decline to $.000011 pic.twitter.com/yFYiW7IXt0
— Peter Brandt (@PeterLBrandt) May 6, 2020
Brandt also stated that the cryptocurrency is approaching zero with a tweet he later posted. Another analyst, Josh Rager, said he was participating in this drop forecast.