- A linear regression forecast model suggests that Ripple could end up with zero value by February 2020.
- Investors and the community hope that XRP will recover some ground towards December 31, 2019.
Ripple’s price has not only remained stagnant in 2019 but also it has an unending affinity for losses. Over the last four months, the cryptoasset has continued to force its way past key support areas including the recent low at $0.2028.
At the time of writing, XRP is trading at $0.2250 amid the sluggish recovery from the depths of the rabbit hole. Predictions that said XRP will grow to levels above $1.0 and even break the all-time high above $3.0 have remained to be nothing but outrageous and pipe dreams.
According to Alex Kruger, when XRP is regressed against time from January 1, 2018 by incorporating the linear regression forecast model, the price targets a disappointing $0 by February 2020.
— Alex Krüger (@krugermacro) November 27, 2019
On the other hand, Ripple is not new to rock-bottom prices. However, the trend in the past couple of years continues to destroy its credibility. Besides the launch on Coinbase had a very minor impact on turning around the price.
Most investors and the community would love to believe that XRP has hit rock-bottom for this year’s trading. Therefore, a change in sentiments towards the holiday season could spur some significant action upwards. However, the extent of that recovery is unknown.