2019 was definitely not the year of buying dips for Ripple’s XRP holders. The third biggest cryptocurrency just kept spiraling down without showing any signs of mercy.
So, when will this nightmare end for the #XRPArmy? Most likely, not anytime soon. Even the much-awaited SWELL event, which took place in early November, couldn’t save the day.
According to top crypto analyst Jacob Canfield, he would still be on the fence about buying XRP even if its price were to plunge to as low as $0.10. In fact, he says that one of his proudest achievements in the current year was talking his family and friends out of buying Ripple’s native token.
I cannot tell you how many friends and family members I saved from buying $XRP in 2018 and 2019.
It has to be in the hundreds.
My answer of when to buy has always been *maybe* $.10 to $.15, but even then I would be cautious.
This has to be my proudest achievement of 2019. pic.twitter.com/RJM2osAyJb
— Jacob Canfield (@JacobCanfield) December 17, 2019
Meanwhile, trader Nebraskan Gooner suggests that buying the token in the $0.07 area would be a great opportunity. As reported by U.Today, trading legend Peter Brandt predicted that the token could collapse to as low as $0.02.
The price of XRP surged by more than 30,000 percent in 2017, which made it the biggest success story of the year. On Jan. 8, it reached its absolute peak of $3.36 on Jan. 8, 2018. However, the token’s price started to tank in tandem with the rest of the crypto market.
At press time, XRP is changing hands at $0.19, which is the lowest point for the token since early November 2017, which represents a painful 94 percent decline from its all-time high. Those who bought $100 worth of XRP at the top would be left with only $6.
