- Crypto analyst predicts a significant 40% drop in XRP’s price, causing concern among investors.
- XRP community members express unwavering confidence, emphasizing long-term holding strategies.
- A heated exchange ensues between XRP Underdog and the analyst, highlighting differing viewpoints on XRP’s future.
Crypto analyst Jungle Inc 2.0 (@jungleincX) recently shared a segment from a YouTube video in a post on X, which has captured the attention of the XRP community and triggered some mixed reactions.
In his forecast, he presents two potential scenarios, neither of which bode well for XRP or its investors. He anticipates an optimistic scenario with a drop to $0.4. However, if XRP fails to maintain this level, he foresees a subsequent decline ranging from 30 to 40 percent.
Optimistic Outlook: $XRP 40 cents
Bearish Outlook: $XRP another 30 to 40 percent drop from there.
— Jungle Inc 2.0 (@jungleincX) September 10, 2023
As of the latest data, XRP is trading at $0.4715, and this forecast paints a rather unfavorable short-term outlook for XRP. This sudden departure from the prevailing bullish sentiment around XRP prompted a spirited exchange between XRP Underdog (@XRP4U2) and Jungle Inc 2.0.
Community Response and Debate
XRP Underdog initiated the conversation by dismissing the initial post as without merit, expressing unwavering confidence in the XRP community. He underscored that most XRP holders are committed to holding until the price aligns with their desired selling point. In this way, they maintain patience through market fluctuations. XRP Underdog concluded his response by expressing disappointment in Jungle Inc and Crypto Eri (@sentosumosaba) for their apparent criticism of XRP.
The ensuing dialogue revolved around XRP Underdog emphasizing that spreading fear, uncertainty, and doubt (FUD), as Jungle Inc was perceived to be doing, ultimately benefits no one.
Jungle Inc, however, persisted in defending his position. While they both acknowledged that XRP’s status as a non-security was unlikely to change, Jungle Inc stressed the potential impact of the timing of the appeal on the broader cryptocurrency industry.
Jungle Inc also argued that the appeal primarily pertained to XRP’s sale on exchanges, a point on which Crypto Eri concurred in her response. Nevertheless, XRP Underdog maintained that this did not contest XRP’s fundamental status.
Crypto Eri, in turn, engaged in a brief exchange with XRP Underdog, seeking to clarify her stance regarding her alleged criticism of XRP. He responded by pointing out that much of her content in recent months had conveyed a negative tone toward XRP.
In a quick rejoinder, Crypto Eri explained:
“My perspective is rooted in a reliance on more than just Ripple to build utility and demand. I’ve held this position for years. I place greater faith in the ecosystem’s builders. According to a recent statement from a Ripple leader a couple of days ago, there are approximately 1000 projects on the XRPL.
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.