After a sharp upward rally that made Bitcoin grow up by about 135% this year, a number of XRP enthusiasts in the market have incessantly churned out price forecast for Ripple’s XRP which seems somewhat ludicrous, a manner that is similar to John McAfee’s Bitcoin price prediction.
In spite of the present unfavorable trend in the market where XRP value dropped below $0.4 psychological resistant point, enthusiasts continue to showcase their believe in the token by flaring up more huge price prevision.
The unending amplified prediction today got a response from a member of the Forbes financial council, David Gokhshtein, who said the XRP community needs to correct the lasting ludicrous price forecast for the altcoin.
While correcting an assertion made by someone on twitter that XRP will be reaching $7 in July 1, Gokhshtein said such prediction shows no reality as the asset is yet to hit the $1 mark. Before we can think about $7 price, we must have far exceeded the $1 mark, Gokhshtein added.
He urged people to stop comparing XRP to other cryptos and likewise put an end to imaginary price build up for few days, rather, a forecast like ‘XRP will hit another all-time high in a year or two’ will be quite conservative.
Gokhshtein said such prediction doesn’t represent the XRP community as 95% of the XRP army won’t issue such statement, but people are only doing so to garner awareness and publicity on twitter because they know XRP has huge community.
— David Gokhshtein (@davidgokhshtein) June 9, 2019
The Forbes council member who doubles as a writer and an entrepreneur, said such prediction are very deceptive and could make new comers of the XRP community go bankrupt.
Nevertheless, Gokhshtein said XRP will certainly do great things in the future. He added that when the Bull market returns, XRP would perform excellently by adding massively to its price.
Ripple’s XRP in the market
The crypto market seems quite lame. The market leading asset, Bitcoin, is on the slope with altcoins also joining the race, plummeting down in the market. Although Bitcoin is yet to cross the $7,600 strong support region downward, but is has lost 2.25% from its value in the last 24 hours to be priced around $7,600 against the US Dollar.
Similarly, XRP has also plunged, crossing its $0.4 support level. The native token of the remittance guru technology recorded -6.37% price drop in the last 24 hours, and it is being priced $0.3838 against Dollar as at press time.
With a market cap which is slightly above $16 billion, XRP remains on the third position.
The market looks reddish but significant analytical tools, as well as predictions from analysts aver that XRP is only up for a rest along the upside trend, and the bull will soon resume to full action.