Ripple’s XRP token has faced a significant correction over the last few weeks. The asset is down by 2.6% in the daily charts, 8.4% in the weekly charts, and over 14% since December 2023. Nonetheless, XRP is still in the green since January 2023, rallying by over 28% in the previous year.
Although XRP is one of the most popular cryptocurrencies in the market, some analysts are bearish on the asset’s future growth. According to El Salvador President Nayib Bukele’s Bitcoin (BTC) advisor, Max Keiser, Ripple’s XRP is a ‘centralized garbage’ coin. Keiser predicts that XRP’s price will hit $0.01. If the asset falls to $0.01, it would translate to a drop of about 98% from current levels.
Also Read: Valkyrie Chief Investment Officer Says Ripple XRP ETFs Could Come
Will Ripple’s XRP fall to $0.01?
Ripple’s XRP is one of the most popular cryptocurrencies in the market. Moreover, it is also one of the most used currencies for cross-border remittance. However, many analysts do not share Keiser’s opinion. According to Changelly, XRP’s price may breach the $1 mark by 2025. Moreover, the platform anticipates the token will surpass its all-time high of $3.40 in 2028.
Also Read: Ripple XRP Forecasted To Surpass its ATH of $3.40, Here is When
Moreover, several events could propel XRP’s price to new highs much earlier than anticipated. Firstly, Ripple is going through a legal battle with the US SEC (Securities and Exchange Commission), which has entered the high court. If the high court’s verdict is similar to the district court ruling, XRP may see a surge in adoption and price. Last year, a US district court ruled that Ripple selling XRP to retail clients did not breach securities laws, contrary to the SEC’s claims.
Moreover, the fintech company has secured many partnerships with global institutions, which could further help protect XRP’s price from falling too far. Furthermore, this can stop further claims of being a “garbage coin” like those from the El Salvador Bitcoin advisor.
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