Ripple has often been criticized recently when it came to the handling and treatment of the XRP token. Massive and regular sales on the part of Ripples apparently kept the XRP price stuck in its downtrend.
But now a crypto analyst is giving all XRP investors another reason to hope. Is 2020 the year in which the XRP price will break its downtrend and record massive price increases?
You can find the answer today and here!
2019 was a tough year for the XRP course
[override_inline_ad]
With XRP in 2019, Ripple caused considerable frustration within the community in terms of course technology. No wonder if the XRP price has collapsed by around 50% since the beginning of the year and that despite a successful year for Ripple, this can piss off one or the other XRP Hodler.
Especially if we keep in mind that the Bitcoin price has risen over the same period by more than 100% is . Something like this is painful for every investor and at some point even the greatest believer comes to a point where he wonders whether he is really betting on the right horse.
We have already covered in great detail what the possible reasons are for the XRP course not responding to Ripple’s successes .
A well-known crypto analyst with the pseudonym Crypto Michaël is now giving the XRP Army hope again. He spoke on Twitter this week about the fact that the XRP rate against the US dollar could experience a massive trend reversal in 2020 .
What exactly is meant by this and how it comes about, we will take a closer look below.
Historical data suggests a trend reversal
In the following XRP course analysis, one or the other XRP investor should open their hearts. Crypto Michaël predicted a massive trend reversal within the XRP / USD trading pair for 2020, which will lead to a 175 percent price increase .
Crypto Michaël found the origin of this assumption in the historical trading data, as can be seen in the following graphic.
A historical pattern suggests in his opinion that the XRP price could be on the verge of a strong pullback.
In his Ripple price forecast, he compared the current situation of the XRP price with a similar trading situation in the period between Q4 / 2015 and Q4 / 2016. The XRP price then had to go through a deep downward correction in which the price fell from $ 0.025 to $ 0.0041 within 12 months. So a drop in price of a whopping 83.6%.
Crypto Michaël also noted that the XRP price saw a similar bearish move in 2019, which is now in a potential reversal area.
Still seeing many similarities to the period in December ’15.
Massive downtrends ready to be broken down.
This could give a target for $XRP of $0.48, a potential rise of 175% from here. pic.twitter.com/4jZKoIN47Y
— Michaël van de Poppe (@CryptoMichNL) December 31, 2019
