As we fast-forward to 2022, things are beginning to swirl around us in an attempt to make a final swing at success. But some things never change like the SEC vs Ripple Case. And yet, plans are afoot for Ripple, meaning, it’s business as usual.
Designed as a turnkey solution for financial institutions, Ripple Liquidity Hub will leverage smart order routing to source digital assets at optimized prices from market makers, exchanges, and OTC desks. As a crypto liquidity platform built for the enterprise, it will unleash the potential to access deep liquidity within markets, accelerating the shift to crypto.
Ripple Liquidity Hub will initially support BTC, ETH, LTC, ETC, BCH, and XRP (availability will vary by geography) with plans to add additional digital assets over time. In the future, Ripple plans to add functionality such as staking and yield generating functionalities.
XRP current pricing
The live XRP price today is $0.969644 USD with a 24-hour trading volume of $2,418,614,403 USD. We update our XRP to USD price in real-time. XRP is down 3.53% in the last 24 hours. The current CoinMarketCap ranking is #7, with a live market cap of $45,782,790,122 USD. It has a circulating supply of 47,216,103,219 XRP coins and a max. supply of 100,000,000,000 XRP coins.
The top cryptocurrency exchanges for trading in XRP stock are currently Binance, Mandala Exchange, OKEx, CoinTiger, and FTX.
The XRP price has been consolidating in a sideways channel since the crypto market crash in May 2021. The price has been consolidating between $0.56 and $1.39. The trend is currently neutral; however, it might retest the 0.618 Fibonacci level around $0.89 before moving to the upside. The Stochastic RSI for the daily time frame is also at the bottom (18), thus there is a huge potential to the upside as far as there is no negative news in the crypto space.
Also, there is a flat volume. This indicates that the supply from sellers and the demand from buyers are in equilibrium.
The latest news on XRP
SEC VS Ripple
The lawsuit against ripple has been the major hindrance to the price surge during this bull market. Even though the Securities and Exchange Commission (SEC) does not consider Ethereum and Bitcoin which have similar characteristics with XRP to be securities, the SEC has continued to be harsh towards Ripple Labs, Inc.
The XRP price fell by 70% immediately after the suit was filed, and has never been able to break its previous all-time high of $3. XRP holders have been affected as major crypto exchanges like Coinbase and Crypto.com suspended trading so they couldn’t cash out. JP Morgan’s North America Equity Research also published a report earlier this month stating that the XRP asset is poised for significant adoption.
Ripple partners with Republic Of Palau
Despite the issues, XRP is dealing with in the U.S. It has accomplished several strategic partnerships. XRP has partnered with the Republic of Palau to develop its national digital currency. The national stable coin would be utilizing the XRP ledger due to its carbon-neutral and energy-efficient characteristics stated by Ripple in its announcement.
Just like El Salvador, the Republic of Palau does not have its fiat currency and depends highly on the U.S dollar. The aim of the partnership is for ripple to develop a strategic cross-border payment system by banking the unbanked citizens of Palau.
SEC vs Ripple Case will ‘likely’ end in 2022, says Ripple CEO
The CEO stated during his interview in CNBC that the lawsuit with the Securities and Exchange Commission (SEC) is nearing its end. Brad Garlinghouse believes that the judges have realized that the case has broader implications than XRP and they are beginning to ask good questions. XRP holders also filed “friends of the court” briefs to allow them to join the case as defendants to support Ripple. However, the judge ruled that individual XRP holders cannot act as defendants in the ongoing lawsuit.
The emergence and growth of Ripple XRP
Ripple has been in existence for a while. It was created back in 2004 as RipplePay, but the case of its innovation came too early for its time, as it made no significant mark then. However, it returned in 2012 as Ripple and soon after launched the XRP token.
Ripple XRP is unlike any other cryptocurrency. XRP is a product of Ripple Labs and it differs on many levels, and this includes:
Ripple is not blockchain-based
Unlike most of the cryptocurrencies in existence, the coin does not operate on blockchain technology. Instead, it is based on the Ripple Protocol Technology, which means it has no use for a distributed ledger database. This uses gateways linked to servers of the company in multiple countries of the world to verify and process transactions.
XRP cannot be mined
While the mining process is considered an integral part of all tokens, it is not the same for XRP. The limit for XRP coins is set at 100 billion coins created by the company. Over 35% of that coin has been released into the market. The rest is held by the company that releases it periodically to control the supply and circulation of the token. The cryptocurrency is a deflationary one as the number of coins in the market reduces with each transaction.
Ripple network is centralized
This virtual asset is centralized, and its parent company, Ripple Lab, strives to create partnerships with traditional financial institutions like banks. The company sells its RippleNet technology to these institutions, thereby increasing the popularity of its native token, Ripple XRP. RippleNet technology is a system that connects banks and facilitates cross-border payments and settlements.
Due to the differences between Ripple XRP and other cryptocurrencies, it also has some advantages. Some of them are:
Fast transaction speed
This is one of the most significant selling points of Ripple technology. The swiftness of transactions surpasses other cryptocurrencies and beats that of SWIFT wire transfer, the commonly used system in traditional banking. This makes it a better alternative for banks to facilitate cross-border payments as its XRP transactions are exceedingly fast. The ripple transaction protocol is quite efficient too.
Low cost
Traditional banking system transactions and that of some cryptocurrencies tend to incur hefty transaction fees. But with digital currency, this fee is drastically reduced to a pittance.
Reversibility of transactions
Another positive for it is that the transaction can be reversed or edited to deal with an error if there is one.
All these features have enabled the Ripple network to gain significant partnerships among traditional financial institutions. And it has also influenced the growth in value of Ripple XRP over the years.
Growth in South Pacific
It is a fact that the recent partnership of Ripple with the Japanese payment giant SBI has brought the attention of various technical corporations across the South Pacific region, and it is expected that the entire region will see an expansion and adoption of Ripple tech.
It has been said that the Ripple remittance deal is setting the stage for the much broader adoption of Ripple. The lawsuit on Ripple pertaining to its security doesn’t seem to bother Japanese regulators or SBI officials.
XRP price history
For years after its creation, the coin value was so inconsequential that it was almost worthless. Before 2017, the value of the asset hovered around $0.01, but this soon changed as the token began to gain wider coverage, and it also leveraged on the bull run of the crypto industry in that year. By April 2017, XRP rose to $0.05; the gradual climb soon continued as it reached $0.25 in May.
After this, there was no going back for the asset, as it had snared the attention of crypto enthusiasts who saw the value it created and the potential it had. The value of the asset rose all through 2017 and into the early period of 2018, where it got to an all-time high of $3.84.
But this was soon followed by a massive drop in value that affected every other cryptocurrency, too; many had labeled the incredible run of the industry as just a bubble, and like every bubble, it was going to burst. This was panned out in the case of the 2017 crypto industry bull run.
Towards the end of 2019, its price stabilized at around $0.30 and did not cross the $0.5 mark all through the year. This means that Ripple XRP hasn’t been able to build on its old glory since then, as its value never got to as high as even a dollar.
However, the bullish run of 2020 that was ignited towards the end of the year helped the value of the asset to ascend. The value of the token got to as high as $0.8 before finishing the year at $0.66. Early 2021 was supposed to be a continuation of the rise in XRP value, but that could not happen due to the SEC’s announcement of a lawsuit.
Upon the announcement, some exchanges delisted XRP from their platform. Many of those holding the token also sold in panic. This led to the value of XRP plummeting to as low as $0.166. However, it has picked up again, going as high as $0.755. Ripple at present is trading between $1.11.
Looking at this overview, it is easy to see the high volatility of XRP in the past few months, which makes it difficult to have a Ripple forecast. But the volatility has not stopped analysts from making XRP predictions based on trends. It only means that these forecasts can change at the slightest notice. However, they still give a rough estimate of what to expect from them.
As of now, the entire market is going through a bullish sentiment in the long term due to the rise of Bitcoin after the bearish trend and might continue to do so. This ripple price prediction will consider optimistic outcomes for XRP price forecasts.
XRP forecast can be done with the help of the above 4-hour chart wherein the price necessarily reflects the market position. We can see that the price of the coin is above the key 50-day moving average and the 100-day Moving Average, retracing upwards.
We saw the XRP coin price forecast break out of the upper end of the Bollinger Bands in the 4-hour chart above. This means that soon the market will start getting bullish.
The current ripple price indicates a bullish future.
Ripple price action and price movement
There are several predictions as to what the Ripple forecast would be in 2021, which necessarily reflect the position of the market. This includes its peak prices, what it would be worth by the year-end, and its lowest value within the year that we see right now.
According to Moody’s research, investors can expect 2021 to be a good year for blockchain with a massive increase in standards that will directly influence Ripple price. Already, Ripple’s XRP already has development plans in motion for 2021.
Given how past developments or even announcements have led to an increase in the value of XRP, the currency might reach $2. This will happen if the actions of Ripple technology lead to a partnership with more financial institutions.
In the past, XRP’s popularity and, by extension, its increase in value has been heavily influenced by the partnership with these traditional institutions. More partnership will mean more adoption, which invariably means higher value.
However, it is not so simple for XRP. The SEC lawsuit complicates the whole issue even further. Before the SEC filed the case, the outlook for XRP was positive, even if it did not make many optimistic. But the lawsuit cuts its breakout short and makes a Ripple price prediction trajectory more challenging, unlike other digital currencies.
Considering how difficult it is to predict a digital asset accurately, it is even more difficult for XRP. More traders are acting bearish with the XRP cryptocurrency after the lawsuit, raising fears that it could drop to below 10 cents. However, the price pump by retail investors and traders has allowed it to pick up again.
If anything, all these events show how extremely volatile cryptocurrency can be. If XRP should experience a real breakout in 2021, it can reach its all-time high of over $3. But that looks very unlikely as long as the SEC lawsuit hangs over its head.
According to Coinpedia, even with the lawsuit hanging over its head, Ripple XRP will trade at an average of $20 in the next five years.
Thus, the highest projected price for the year is $2, while it could also go as minimum price prediction is $0.561 if the SEC lawsuit is not settled in favor of Ripple.
Ripple technical analysis
XRP forecast can be done with the help of the above 4-hour chart wherein the price necessarily reflects the market position. We can see that the price of the coin is above the key 50-day moving average and the 100-day Moving Average, retracing upwards. We saw the XRP coin price forecast break out of the upper end of the Bollinger Bands in the 4-hour chart above. This means that soon the market will start getting bullish. The current ripple price indicates a bullish future.
Ripple Price Prediction in 2021
Another prediction by Digital coin puts the XRP price forecast at 1.76 USD by the end of 2021. This, of course, is relative to the position of XRP in the cryptocurrency market, with the current price at $1.16. There are multiple opinions expressed about XRP price predictions.
XRP Prediction 2023
While the outlook might not look very positive for 2021, the future USD predictions look excellent. Though it may not be as high when compared with that of Bitcoin or Ethereum, it is expected that its growth will continue, and its value will reach above $3 by 2023. This is an extremely bullish scenario for digital assets.
This will happen if all the development plans that Ripple currently has in the offing are initiated, thereby allowing for more partnerships, not just with financial institutions but also with other institutional investors. Such widening of scope for Ripple will have an immediate benefit for XRP.
Digital coin says that XRP will reach $2.28 by 2023.
Ripple XRP Price Prediction 2025
Wallet investor says that the price of the coin will reach 3.8 USD in the next five years.
Future and current partnerships with Banks in Latin America and Europe will help Ripple technology and its native coin. These partnerships will open the door for XRP to gain broader adoption in other parts of the world apart from America. This is already in place with a larger percentage of XRP holders not being in America.
It, however, proposes a midpoint as the likely outcome. This means that by 2025, one XRP would be worth around $6. By this time, the adoption rate would have reached a level where it is more comfortable and more conducive for users to conduct a transaction with the currency and trade with it.
So, for 2025, the highest projected value of the asset is $8, while it could also go as low as $4. This is quite a huge rise from the Ripple price today. Recent XRP price predictions by TradingBeasts show that the maximum price for the currency will reach 1.63824 USD by December 2024. This is bearish compared to the XRP price today.
Ripple XRP Price Prediction for 2030
The long-term XRP price prediction for the next ten years also seems very remarkable. Experts expect the currency to grow exponentially as its adoption rate will continue to increase with time. By 2030, projections see its rates hitting above $17.
According to Coinswitch, crypto enthusiasts believe that By that time, the use of XRP would have increased significantly. It could have become one of the favorite cryptocurrencies at that time.
Ripple price predictions by TradingBeasts
TradingBeasts put a minimum price of $1.23339 and the average price of $1.45105 for November 2021. XRP’s price for the year-end is predicted based on the price volatility and is kept at a maximum of 1.81381 USD. The Ripple coin will be trading at a maximum price of 1.87553 USD by the end of 2022.
The average price of ripple for 2022 December is $1.50043 while the minimum expected Ripple’s price is 1.27536 USD.
Furthermore, for the year 2023, the average price for December 2023 is at 1.47527 USD, the minimum at $1.25398 while the maximum is set at $1.84408. However, we can expect higher prices and an increase in the market capitalization too if bulls take control.
Ripple prediction is positive for XRP investors for the year 2024 as the maximum expected price is at 1.83552 USDT.
Is XRP worth buying at present?
One of the biggest challenges for traders and investors is whether or not to invest in XRP. It is far cheaper than most of the other cryptocurrencies in the overall crypto market at its current rate. This makes it accessible and easy to buy for many investors and suitable for mass adoption and informational purposes.
But in terms of returns, can one say it is worth it? The next five to ten years’ predictions do not position it as the best investment in the market. After all, it will only increase by 5x or 6x in the next five years in the best-case scenarios. But a value of less than a dollar doesn’t look so bad, and the demand is good.
The benefits it seems to offer, such as the speed of transactions and low charges, would make it look like a good investment with more potential for institutional backing and developments soon.
Where to buy your XRP
1If you’re planning to buy or sell XRP or most cryptocurrencies, several independent cryptocurrency exchange platforms exist solely for that purpose. They include Bitstamp, Kraken, Gatehub, etc. But, it is important to do your own research and use wise investment decisions.
Buying on all these platforms is relatively easy and straightforward as they allow you to buy with USD, EUR, and even BTC. All you need is to have an account on the platforms, and you are good to go. You can link your credit or debit card. Wire transfer is usually available on these cryptocurrency exchanges too.
Final words
The forecasts for XRP vary widely depending on the analysis and period. However, most of them have two things in common – volatility and a moderately optimistic outlook.
The optimistic forecast will depend on the Ripple payment technology’s increased adoption in almost all predictions. However, the volatility of the asset could stand as an albatross as it depends majorly on the outcome of the litigation between its parent crypto company and the financial regulator.
XRP FAQs
Are On-Demand Liquidity (ODL) firms are feeling the pinch from XRP’s price volatility?
No, not at all. As of now, there are a considerable number of firms that choose ODL over XRP. ODL does not need that such firms hold on to XRP for a long period of time. Furthermore, these financial institutions are less vulnerable to volatility during transactions.
In order to trade XRP, what is the ideal method?
Open-source and decentralized, XRP may be bought and sold on over a hundred different digital markets. XRP/USD trading may be done on a number of different exchanges on the internet.
Ripple’s recommendation for XRP trading platforms?
For the most part, the cryptocurrency Ripple (XRP) doesn’t encourage or advocate the use of Internet listings or exchanges, and it makes no claims about them. Customer service and standards based on central bank criteria are different at each exchange when it comes to trading the XRP currency. You should do your own research before embracing new technologies or making financial decisions. To sum up, Ripple does not endorse or sponsor any specific trading platform for XRP.
Is Ripple (XRP) held by any financial institutions?
For its cross-border payments, the XRP Liquidity Pool has officially announced the usage of XRP by eight major payment service providers, including MoneyGram, MercuryFX, IDT, Cuallix, Western Union, and Cambridge Global Payments. A growing number of financial institutions are showing an interest in using Ripple’s XRP coin to facilitate their payment processing operations.
Is it possible to explain the Ripple Payment Protocol?
Currency exchange, remittance network, and real-time gross settlement system are all features of the Ripple Payment Protocol (RTXP), also known as the Ripple Transaction Protocol (RTXP). The network is built on a consensus ledger, an open-source distributed Internet protocol, and the native currency. In only a few seconds, Ripple (XRP) can settle transactions across borders.
Is Ripple a safe way to transfer money?
This is a straightforward question with a straightforward answer: “Is Ripple safe?” It’s because of Ripple’s unique approach to cryptocurrencies, which sets it distinct from its rivals. Ripple is focused on a certain goal. The potential for dominance in the online payment business is enormous once it arrives.
Is it a good idea to own XRP?
Customers throughout the world may utilize Ripple without the involvement of the government or any other financial institution, making it a completely customer-oriented payment channel. Retaining XRP coins may prove to be an excellent investment since historical price changes suggest a big climb is likely in the near future.
Is there an incentive mechanism in place for validators who are not Ripple validators?
Interbank settlements using the XRP Ledger will have an incentive to ensure that the network is reliable and stable if it is widely used. If this happens, institutions will set up ripple servers to join the network. A validator’s primary role is to guarantee that the network is stable and that it develops logically.
