According to cryptocurrency trader Michaël van de Poppe, XRP is on the brink of another significant move that could push its price to $0.27.
At press time, the third biggest cryptocurrency is sitting at $0.24 after the bulls managed to pull off a minor revival.
A bump in the road
XRP started 2020 on a high note after being absolutely clobbered in Q4 along with the rest of the cryptocurrency market.
On Feb. 12, it once again surpassed the psychologically important $0.30 price level that it has been struggling to reclaim since November 2019. A few days before that, van de Poppe predicted that XRP could have ended its two-year downtrend and floated the possibility of XRP reaching $0.60.
However, after peaking at roughly $0.34, the token took a nosedive. XRP is currently down 30 percent from the above-mentioned yearly high. For comparison, Bitcoin investors who bought the 2020 top have lost only 13 percent at current prices.
XRP keeps lagging behind
Considering that the adoption of the XRP token steadfastly continues to grow with a bevy of new Ripple's partnerships, its sluggish price action remains a mystery. It was one of the worst-performing coins in 2019 when BTC pumped by more than 95 percent.
As reported by U.Today, some critics blame Ripple for suppressing the price of the token with its sales. However, the company's CEO Brad Garlinghouse vehemently denies such accusations.
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