Eduard Watson

7 days ago

The crypto market is bloody again with Bitcoin and other digital assets trading in the red.

New prediction about Bitcoin and XRP goes viral

It’s been just reproed that a crypto analyst’s warnings about XRP and BTC are spreading throughout crypto circles and across media outlets, and we’ll also detail it below.

The trader is known in the industry as Magic, and according to the online publication the Daily Hodl, he said that BTC might trend higher in a short-lived relief rally.

Magic also believes that there’s a confirmation of a head and shoulders pattern which is used to predict trend reversals will be actually marking the start of a dramatic reversal.

A tidal wave of red in the crypto market could slash the price of XRP

He said that this fall would create a tidal wave of red in the crypto market and slash XRP.

“While I love XRP (and I do believe that it is superior to all other cryptocurrencies) if BTC falls to the 1000 range as I’m currently anticipating, I think XRP could simultaneously fall to 0.03. I hate to report that, but that’s what the charts suggest, if BTC falls to 1000.”

Magic also questioned Ripple’s business model, saying the company would do a better job of boosting XRP if it required customers to use the digital asset for payments.

“On the topic of XRP, it bothers me that Ripple built a business model that can thrive without XRP. They could have forced clients to use ODL for cross-border payments, but clients can benefit from Ripple’s cross-border solutions without XRP. Common knowledge. I just don’t like it,” Magic said,

The analyst continued: “Other than that, I am a big fan of Ripple and XRP, and I think they have one of the best projects in the space.”

At the moment of writing this article, BTC is trading in the red, and it's priced at $7,339.59, and Ripple's XRP is now trading at $0.221361.

Coins Mentioned

XRP

XRP

BTC

Bitcoin

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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