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XRP Price Predicted to Hit Zero Next February by Popular Crypto Analyst

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    Alex Krüger's chart takes the cake as the most bearish XRP price prediction

XRP Price Predicted to Hit Zero Next February by Popular Crypto Analyst
Cover image via u.today
Contents

By using a linear regression forecast, crypto analyst Alex Krüger estimated that the price of Ripple's XRP could drop to zero in February 2020. 

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Going to zero

While quantitative analysis allows identifying key price trends by eliminating the erroneous nature of the human mind, this approach is not always successful. Linear regression simply relies on past price data to show how the output will be impacted by the input, which means that it can only be used together with other technical indicators, chart patterns, etc.      

As Krüger explains, the choice of a particular period is completely arbitrary. The user defines a linear line that corresponds to the general trend. Hence, it doesn't actually predict the price of a certain asset, but only shows its general direction. The current market trend has to persist for XRP to reach zero by February, which is pretty much impossible. 

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Does XRP price matter?

Things look bad for XRP given that the third biggest cryptocurrency recently plunged to its two-year low. Despite new partnerships and transaction milestones, the token's holders fail to feel any benefits. Krüger recently implied that it was useless.      

Krüger is not the only XRP bear in town. Earlier, commodity trading veteran Peter Brandt predicted that the XRP price could plunge to as low as $0.02. 

That said, Ripple CEO Brad Garlinghouse claimed that his company was in for the long haul, and he didn't even pay attention to the token's daily price moves. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls

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    The Bitcoin price could soon touch $7,800 if bulls persist, but this move could be a short-lived one

Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls
Cover image via u.today

Popular crypto trader Wendy O recently predicted that the price of Bitcoin would "rocket up" if it managed to surge above the $7,400 level. 

Bitcoin Price
image by @CryptoWendyO

Shortly after that, the BTC price did rise above the aforementioned level, currently sitting at $7,444, according to CoinStats data

Bitcoin Price
image by coinstats.app

If the aforementioned forecast turns out to be accurate, Bitcoin traders could soon see another fakeout, which would be similar to the one that took place on Dec. 4. As reported by U.Today, BTC printed a massive green candle in less than a minute, but this unexpected pump quickly evaporated.     

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Earlier today, multiple traders predicted that Bitcoin was about to make a big move in either direction, but $7,800 seems to be the main area of interest for them. The leading cryptocurrency hasn't touch this level since Nov. 30. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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