A crypto analyst known for accurately knowing Bitcoin’s crash this year capoHe underlined that Ripple’s native token, XRP, could most likely see a drop of over 50%.
The analyst, known by the alias Capo, explained on his Twitter account with more than 540,000 followers that the open-source digital currency XRP is still on a downtrend despite the recent rally recorded.
According to a chart shared by Capo, XRP looks set to drop to the higher timeframe support at $0.20.
Koinfinans.com As we reported, at the time of writing, XRP price was down more than 5% and was trading at $0.447. The sixth-largest crypto-asset by market cap has managed to rise nearly 40% from its 30-day low of $0.32 but is trading at more than 86% lower compared to its all-time high of $3.40.
Another altcoin on Capo’s list is a bridge between two fiat currencies in sending money abroad. Stellar Lumens (XLM). According to Capo, XLM is poised for a quick rally to its target of $0.16 before continuing its downtrend.
XLM is trading stable during the day at the time of writing and is valued at $0.118.
The analyst also Reserve Rights Token Designed to facilitate the stability of the asset-backed stablecoin known as (RSV) cryptocurrency also announced that it is closely following the Reserve Rights Token, which is its unit. According to Capo, the RSR still offers more upside potential despite gaining over 90% in just two weeks.
“Support to previous key level resistance change. The next target is $0.012 but the main target remains at $0.017. I haven’t taken a profit yet, I’m just following the stop on the profit.”
At the time of writing, RSR is trading at $0.0099, up 4.95% on the day.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.