In line with a 2024 report by Crypto News Flash (CNF)
when a veteran trader warned of alarm bells as XRP faced zero prospects against BTC, XRP—the digital asset associated with Ripple Labs—is once again under the microscope as prominent trader Crashius Clay voices strong skepticism about its market position.
Market Research and Criticisms
According to recent market research, including from a cryptocurrency exchange, Peter Brandt has been a long-standing critic of XRP, often highlighting its volatility and perceived shortcomings compared to Bitcoin.
Clay’s Position on XRP
Labeling XRP as a “disguised meme coin,” Clay has openly shared his profitable short positions, including a notable $1 million bet against the asset. His confidence stems from what he sees as weak fundamentals, citing low on-chain activity and minimal revenue generation.
Technical Analysis and Price Predictions
According to Grok, xAI, in its analysis of XRP market trends and technical patterns:
The veteran trader’s bearish outlook on XRP, citing a Head & Shoulders pattern and potential 50% price drop from $2.06 to $1.07 if it falls below $1.90, is based on technical analysis of weak momentum and resistance at $2.70–$3.08.
Market Liquidity and Investor Behavior
Clay’s bearish outlook is further supported by concerns over market liquidity. He suggests that previous market cycles have financially strained typical XRP investors, and that affluent investors—or “whales”—are hesitant to inject capital into XRP at its current valuation.
With XRP having experienced a sixfold increase in recent months, Clay anticipates that early investors may soon offload their holdings, potentially exacerbating sell pressure in a market he describes as “dry.”
Contrasting Perspectives and Future Outlook
With recent CNF updates about the $15 target via ETF Market Cap boost, while Clay maintains a bearish stance, it’s worth noting that other analysts have a more optimistic view.
Some projections suggest that XRP’s price could range between $2.25 and $4.59 in 2025, with an average value around $3.08. These forecasts are contingent on various factors, including market conditions and regulatory developments.
The divergent opinions on XRP’s future underscore the asset’s complex position in the cryptocurrency market. While critics like Clay highlight potential vulnerabilities, others see room for growth.
A positive signal in XRP’s price movement appears to support the latest narrative in the recent CNF update mentioned above. As of now, XRP is trading at $2.13 USD, reflecting a 3.36% increase over the past day. See XRP price chart below.