Crypto Trader Crashius Clay Predicts XRP Will Experience the Greatest Price Crash Among Top Crypto Assets

Crashius Clay, a widely followed crypto trader, has suggested that XRP could experience the greatest price crash among the leading crypto assets.

Crashius Clay, a crypto trader with a large following, has suggested that XRP could be seen dumping the greatest in comparison with other top-tier crypto assets.

Clay shared this perspective about XRP in a tweet on Tuesday. This contrasts with other market commentators, such as Jake Gagain, who are predicting a new all-time high for XRP. However, Clay believes that instead of reaching a new all-time high, XRP will likely dump to historical lows.

This suggestion comes amid ongoing discussions in the crypto community that the bull cycle may be over and that the market could be entering a bear season.

Now, focusing on the bearish side, Crashius has opened massive short positions on both XRP and Bitcoin. In his tweet, he shared details of his shorts on these two assets and also expressed his expectation for XRP over the next two months.

“I believe XRP will crash harder than any coin in the top 50 in the next 30-60 days.”

I believe XVXR will crash harder than any coin in the top 50 in the next 30-60 days.

I'm short 30x BTC on Binance at $84,347.

Still no liquidation on BTC as price dropped to $82,657.80 (61.22% ROI). Liquidation price is $86,634.60.

I'm also short 10x XRP at $2.3190. As the price dipped to $2.2679, my profit is $176,792.91. pic.twitter.com/72yB8e3zC4

— Crashius Clay (@Crashius) August 22, 2023

Notably, his XRP and Bitcoin shorts are already proving to be a smart call. For Bitcoin, he entered with 30x isolated leverage on the Binance exchange, with an entry at $84,347.

Since then, Bitcoin’s price has dropped to $82,657, securing him a profit of $29,948.80, representing a 61.22% ROI. However, this position risks liquidation should Bitcoin rebound to $86,634.60.

But the real standout in his trades has been the XRP short. Armed with 10x isolated leverage, Crashius bet against XRP at $2.3190. As the price dipped to $2.2679, his profits surged to $176,792.91.

Notably, this marked a 22.54% ROI under the 10x leverage. The higher absolute return compared to his Bitcoin trade reflects the sheer size of his XRP position. Specifically, the position is worth over $7.8 million, requiring $997,177.11 in margin.

This position risks liquidation if XRP’s price rebounds to $2.4987. At press time, XRP is trading at $2.31.

Meanwhile, Clay remains convinced that further lows are on the table for XRP. As The Crypto Basic reported earlier, some analysts believe XRP’s price could crash by 40% and drop back into the $1 range. This prediction is based on the observation of a head and shoulders pattern on XRP’s chart.

However, optimistic commentators like Edo Farina believe a $1 XRP price would be a prime buyback opportunity. In his view, XRP could reach this low with a flash crash and rebound within minutes.