XRP price prediction: recent overview
In the world of cryptocurrencies, XRP is quite different. It is decentralized, but not as much as Bitcoin, Ethereum, and the likes. Unlike them, it doesn’t seek to be an alternative to the traditional banking system but rather to collaborate and improve the conventional banking system. Nonetheless, it is a cryptocurrency.
XRP is a cryptocurrency issued by Ripple and is among the top 10 crypto tokens by market cap. In recent months, it has had its fair share of controversy with the Securities and Exchange Commission (SEC) filing a case against the company behind the crypto asset and its executives.
The lawsuit focuses on whether XRP is a security or not. A multimillion question has not been answered satisfactorily for years, determining the kind of future the digital asset has. While the case’s announcement led to a massive slump in value for the asset at first, the token has since rebounded, thanks mainly to retail investors and traders pumping its value plus the general bull run of the crypto industry towards the end of last year.
In this article, we examine the current value of XRP, how much it would be worth in the nearest future, and the factors that could determine its future value. XRP tokens have seen volatile price changes.
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
|XRP||$ 0.746545||$ 34.61 B||5.90%||46.31 B||$ 4.02 B|
XRP Network & Signals
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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 the current price is around $0.62. It differs on many levels, and this includes:
It 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.
It 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.
Relationship with banks
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:
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.
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.
XRP Prices Overview
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 exactly what 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 $0.4 to $0.5.
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 due to the rise of Bitcoin after the bearish trend and might continue to do so. This ripple price prediction will consider the most optimistic outcomes.
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 and 100-day moving averages and breaking out of the Bollinger Bands. This means that soon the market will start getting bullish. The support level is maintained as the Relative Strength Index is high. The price of XRP shows a lot of buy orders as compared to sell orders.
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 cryptocurrencies.
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 $0.65 by the end of the year. The firm based its predictions on expert opinions that the currency will be worth $0.83 on average by the end of January 2021. This, of course, did not happen.
Thus, the highest projected price for the year is $2, while it could also go as minimum price prediction is $0.1 if the SEC lawsuit is not settled in favor of Ripple.
Ripple Price Prediction in 2021
In 2021, there are various firms that have made their version of XRP price analysis. We will discuss a few of them.
XRP prediction by Wallet Investor suggests that the price of the coin in one year will be at $1.04.
Another prediction by Digital coin puts the XRP price forecast at 1.01 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 $0.6. 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 could reach $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 $1.31 by 2023.
Ripple XRP Price Prediction for 2025
Wallet investor says that the price of the coin will
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.
Coinpedia has a more optimistic opinion as to what XRP coin would be worth in 2025; according to its price prediction, the currency would be in a range of $4 to $8 by that time, which would be a record high.
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.
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.
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.
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.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.