El Salvador's Bitcoin Advisor Predicts a 98% Plummet in XRP Value to $0.01

• Ripple's XRP Token: A Comprehensive Analysis
• Future Outlook
• Ripple XRP ETFs on the Horizon?
• Will XRP Reach $0.01?
• Events that Could Drive XRP's Price

Ripple's XRP Token: A Comprehensive Analysis

Despite enduring a substantial correction in the recent weeks, Ripple's XRP$0.620 -1.68% token is still performing well, with a downturn of 2.6% on daily charts, 8.4% on weekly charts and a 14% slide since December 2023. However, the token still enjoyed an appreciation of over 28% from January 2023 to December 2023.

Future Outlook

Criticism over XRP's future, however, is present. Max Keiser, Bitcoin$42,260 -0.64% (BTC) advisor to El Salvador's President, Nayib Bukele, has notably referred to Ripple's XRP as a ‘centralized garbage' coin, estimating that XRP's price will hit $0.01. This would mean a depreciation of about 98% from its current levels.

Ripple XRP ETFs on the Horizon?

There are speculations about possible Ripple XRP Exchange-Traded Funds (ETFs) in the future.

Will XRP Reach $0.01?

Being a well-known and frequently used cryptocurrency for cross-border remittance, XRP's future is a popular topic among analysts. However, not all analysts share Keiser's pessimistic view. Changelly, for instance, predicts that XRP's price may break the $1 barrier by 2025 and could even exceed its all-time high of $3.40 by 2028.

Events that Could Drive XRP's Price

Several factors could potentially accelerate XRP's price growth. Key among these is Ripple's ongoing legal dispute with the US SEC (Securities and Exchange Commission), currently moving through the high court. If the high court echoes the district court's previous ruling, XRP could see a surge in adoption and price. In the previous year, a US district court ruled in favor of Ripple, rejecting the SEC's claims that selling XRP to retail clients was a breach of security laws.

Additionally, Ripple has entered into numerous agreements with global institutions, which could potentially bolster XRP's price and prevent drastic drops. These partnerships can also help dispel any negative perceptions about XRP, such as those expressed by the El Salvador Bitcoin advisor.

Edited by Jonathan Stoker