A crypto trader has made a daring prediction that XRP will crash by 72% to $0.6 despite the current hype around the token.
In a TradingView analysis on 30 June, the trader known as Xanrox said emphatically that the crash will happen and advised XRP holders to take some actions to prevent becoming victims.
Judging from previous actions
Xanrox draws his conclusions from previous price actions of the XRP token.
After an impressive bullrun that took the price of the token to $3.39, he says the rally must be completely neutralized before any other bullrun, because this has been the pattern.
He highlighted the previous bullruns such as that of 2021 which took the price to $1.96, which was also completely wiped out before this year’s bullrun eventually came.
To avoid being caught in the crash, Xanrox advises traders who are speculating on the price increase to exit their positions and take profit now if they bought at a lower price.
For those who bought at the top, he advised them to take a small loss or a break even and exit before the crash, which he said could start “any day now.”
Alternatively, he recommends opening a short position on futures on a strong resistance to make money on XRP.
A lifetime chance?
While the prediction of a massive XRP crash may be sad news for those already holding the token and especially those who bought when the rally had already advanced, it could be a lifetime opportunity for others.
There’s a lot going on for XRP currently, which could potentially make it a good investment in the future.
The latest of these developments is the launch of the XRP Ledger EVM-compatible sidechain, which is expected to bring interoperability to the ledger. It’ll also introduce wallets, dapps, etc, which will potentially make XRP more usable.
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