Ripple: El Salvadoran Bitcoin Advisor Says XRP Will Drop 98% to $0.01

Ripple’s XRP token has faced a major correction over the past few weeks. The asset is down 2.6% on the daily chart and 8.4% on the weekly chart, putting it down more than 14% since December 2023. Despite this, XRP has remained in the green since January 2023, having gained over 28% in the previous year.

Although XRP is one of the most popular cryptocurrencies on the market, some analysts are pessimistic about the asset’s future growth. Ripple’s XRP is a “centralized garbage” coin, according to Max Keizer, Salvadoran President Nayib Bukele’s Bitcoin (BTC) advisor. Keiser predicts that the price of XRP will reach $0.01. If the asset fell to $0.01, it would be down approximately 98% from current levels.

Will Ripple’s XRP drop to $0.01?

Ripple’s XRP is one of the most popular cryptocurrencies on the market. Additionally, it is one of the most commonly used currencies for cross-border remittances. However, many analysts disagree with Keizer. According to Changelly, the price of XRP may cross the $1 mark by 2025. Furthermore, the platform expects the coin to surpass its all-time high of $3.40 in 2028.

Additionally, some events may push the price of XRP to new highs sooner than expected. First, Ripple is in a legal battle with the U.S. SEC (Securities and Exchange Commission), which has gone to high court. If the high court’s ruling is similar to the district court’s ruling, XRP adoption and price could surge. Last year, a U.S. District Court ruled that Ripple did not violate securities laws by selling XRP to retail customers, contrary to the SEC’s claims.

In addition, the fintech company has also entered into many partnerships with global institutions, which can further help protect the price of XRP from falling too far. Additionally, this prevents the likes of El Salvadoran Bitcoin Consultants from further claiming to be a “junkcoin.” #XRP/USDT #BTC #ETH/USDT $XRP $BTC $ETH