Ripple was born back in 2004 when Ryan Fugger designed the first prototype sketch of a decentralized payment system dubbed RipplePay. The payment system was later introduced to the world in 2005, with one objective: offering reliable payment solutions within a global network.
In 2012, Jed McCaleb and Chris Larsen took over RipplePay and rebranded it to OpenCoin. From there henceforth, the firm focused its attention on building a protocol to facilitate payments for banks and major financial institutions. However, the company decided to settle on its former and current name, Ripple.
XRP is attractive to financial institutions such as banks, which are Ripple’s biggest clients. Banks move huge sums of money all over the world and that is where XRP comes in; moving huge amounts fast and at an extremely low cost. Ripple’s goal is to disrupt the entire cross-border payments industry.
Ripple aims to substitute SWIFT, which is today’s standard for international wire transfers. SWIFT is both slow and charges high fees. Financial institutions have been embracing Ripple’s xRapid that uses XRP tokens to move money globally bullet fast and at a low cost.
Additionally, Ripple may substitute the conventional international transfer firms such as MoneyGram and Western Union. Ripple recently purchased a stake in MoneyGram triggering its stock to rise massively.
Ripple has the potential to become a new standard in a lot of industries. The cryptocurrency has the highest long-term price potential, more than any other digital currency in the market. Although it is difficult to make both long-term and short term price predictions, this guide will cover all the essential information and comprehensive analysis of XRP so as to make precise XRP price predictions.
XRP historical price and technical analysis
The Ripple payment system and its crypto XRP have been in existence since about 2014. The XRP started trading the market at $0.06. Ripple went on to form partnerships and strike deals with top banks across the world and the price of XRP began increasing. As of 2014, the price of Ripple has gone to escalate rapidly, although the token is still affordable.
In May 2017, the price of Ripple reached its first peak, with one XRP token costing $0.34. The surge in the price of XRP coincided with Ripple initiating itself into the cross-border payments and cryptocurrency industries by opening offices in both Singapore and Mumbai.
The second price break came in January 2018, when XRP price reached its all-time high of $3.84. Ripple became the most profitable digital currency that year, giving investors over 1000 percent returns on investment. However, the price fell gradually within the same year to reach lows of $0.29.
Moving forward, the price of the coin surged again to reach a $0.56 price level in September 2018. The price of the crypto token has stalled below $0.6 since then.
In 2019, XRP price did not see any substantial quantum leap moving within the $0.02-$0.05 region. Ripple is currently trading at $0.198000, with 44,112,853,111 XRP tokens in circulation, and a total supply of 99,990,976,125 XRP.
XRP predictions 2020, 2025, 2030
Ripple’s good relationship with regulators worldwide, industry experts, and many others make sure the Ripples price will see a strong performance. However, for how XRP price prediction, technical price analysis can explain why certain price levels can be achieved.
What might have a far-reaching impact on the price of Ripple, is its parent company ceasing the sale of further tokens to fund Ripple’s new operations. If this happens, the demand for XRP will far outweigh the supply of Ripple (XRP) tokens translating into a meteoric increase in the crypto’s value.
Ripple is majorly popular due to its RippleNet technology, which interconnects banks across the world for instantaneous cross-border settlements. The bank has been making huge strides over the years to develop its relationship with the leading banks across the world to facilitate cross-border transfers as a sub for the slow and expensive SWIFT bank-to-bank wire transfer.
Ripple kicked off 2020 strongly before the coronavirus pandemic disrupted the world order. We expect the company to expand its presence to more nations in 2020 as it aims to double its 2019 market inflow. During an interview with Bloomberg, the current CEO of Ripple, Brad Garlinghouse said: “I don’t think about the price of XRP in the short-term. I think if we can enable XRP to be the most efficient in terms of the speed of a transaction and the cost of a transaction, more and more people will use it.”
Crypto Rand XRP price prediction for 2020
Crypto Rand, a well-known cryptocurrency markets analyst with more than 200k followers on Twitter claimed that if XRP price goes past its current price range of between $0.30 and $0.31, the price of Ripple is likely to escalate by about 50 percent towards $0.47 as per his charts.
Josh Olszewicz XRP price prediction
Another popular cryptocurrency analyst at Brave New Coin, Josh Olszewicz, replied to Crypto Rand’s tweet agreeing with his Ripple price forecast. He stated that if XRP makes to break past $0.30 resistance, its price could escalate by a mouth-watering 66 percent to $0.50 in the following months, per his XRP price prediction.
Cryptoground XRP price prediction
Another bullish Ripple price prediction was given by Cryptoground.com, who predicted the crypto to trade at $0.348 in a year, yielding nearly 28 percent. According to their technical analysis and XRP price forecast, this rally will progress until XRP price reaches $1.9422 in their Ripple price predictions 2025.
Longforecast XRP price predictions for 2020, 2022
Another very popular cryptocurrency forecast website by the name Longforecast.com project its Ripple price prediction to be $0.17 in December 2020. The website goes on to give its 2020 Ripple price prediction, suggesting the price will sharply plummet to lows of $0.09 per XRP token.
Walletinvestor XRP price predictions 2020 -2025
According to their prediction, XRP is a bad risky one-year investment option. The value of the token might fall to $0.04. As a long term option, XRP should do perform better. The value of the token will gradually rise and will close 2020 at $0.46. In 2021 its value could rise to $0.58 and the mean price of Ripple in 2025 will be $2.32.
What will Ripple be worth in 2020?
The current XRP price is about $0.198000. XRP seems to have strong links with the price action movement of BTC. With the Bitcoin halving event having occurred on May, 11, the majority of analysts expect a price hike for BTC and the entire cryptocurrency market, XRP included. However, the immediate post halving period is filled with immense market volatility as the Bitcoin community and the entire industry digest the happenings of the biggest date in the BTC calendar.
According to the largest XRP price prediction and media outlet, Ripple Coin News, XRP price 2020 will break past the $8.0 region, facing stern resistance at about $10. Notably, the driver of its price growth is partnerships and the innovation of new tech solutions that facilitate the already existing Ripple developments.
XRP price prediction in the next five years is expected to be trading within the $4.52 region. Ripple is partnering with Latin American and European banks which are expected to boost its price in a few year periods.
Can XRP reach $100?
Ripple is currently one of the busiest cryptocurrency firms on top of being one of the top five cryptocurrencies in the world. If you are wondering whether the XRP price prediction of $100 is feasible, then simply the answer is definitely yes!
To determine whether the $100 XRP price prediction is attainable, let us take a look at the total tokens in circulation and the total supply of XRP.
Circulating supply: 44,112,853,111 XRP
Total XRP supply: 99,990,976,125 XRP coins.
If the XRP price was to get to $100, it means that the current supply would be worth approximately $4.4 trillion, and the total supply would be worth approximately $9.9 trillion.
That’s a hell lot of money! During 2017’s famous crypto bubble, the entire cryptocurrency industry did not even get to $1 trillion. Ripple getting to $1 trillion would absolutely affect the status of the United States Dollar as the reserve currency of the world. But who said USD will be dethroned from this status? The majority of economists concur that the United States is due for a recession.
All in all, taking everything into consideration, the price of XRP has the potential to reach $100. This is probably a Ripple price prediction 2030 or it can even go up to 2040. However, if the United States dollar eventually gets devalued, who knows what $100 will be worth?
Will XRP ever reach $10?
Considering everything, $10 is viable for XRP. However, this prediction will not be achieved in the near future. It will take some time to get here.
Is XRP a good investment for the year 2020?
This guide provides those with plans to hold or trade Ripple with the necessary facts required and significant forecasts to come up with one’s own judgment on how far up XRP price could rise in the future, or if taking a position on XRP suites them.
Just like every other asset, there is no straightforward response to this query. The tiresome quest of deciding which digital currency to invest in is triggered by the dynamism of the crypto market. The volatility of Ripple makes it tough to determine both its short-term and long-term price predictions.
As Ripple quickly grows and becomes tempting to leading banks and digital payment networks, many people are questioning whether Ripple will be able to adapt in an industry with high competition and thrive. While you are contemplating on whether to make an investment, ensure to make technical analysis and go through all the recent analysis of the cryptocurrency.
Ripple has the capacity to disrupt several industries, it has the backing of regulators and it is run and maintained by a group of well-skilled and equipped individuals and the many people who have made XRP investment and are driving its adoption.
In the near future, varying experts and analysts anticipate prices ranging from $0.80 to as high as $16 dollars. In the long-term, depending on the expert or analysts, prices reach as high as $589. However, analysts also indicate many different scenarios where a pullback occurs after setting a new all-time high.
Such corrections are regarded as healthy as they provide traders with more opportunities to open short positions after the rally is complete, and open long-term positions when XRP price hits historical support levels. No one knows whether Ripple will achieve its vision of disrupting the cross-border settlements industry, especially at a time when global stablecoins like Facebook’s Libra are under development.
Ripple is among the best cryptocurrencies in the world right now and it is ranked among the top ten largest cryptocurrencies. Additionally, XRP has been able to maintain its spot among the top ten cryptocurrencies for several years now and it is expected to remain among the elite digital currencies such as bitcoin. Additionally, one day might beat SWIFT to become the main technology adopted by financial institutions to make cross-border payments, rendering old-school platforms like Western Union and Money Gram out of date.
The fact that Ripple is widely accepted by global financial watchdogs gives XRP additional value for the prospective traders and investors who are guaranteed that their investment will not be faced by any needless risks.
Regardless, digital currencies are volatile in nature and some other risks associated with them. Never invest more than you can afford to lose. Combine proper risk management and the necessary fundamental analysis before making an investment.
Pros of Ripple investment
XRP has the capacity to revolutionize global banking.
Given that the current international money transfer system is slow and inconvenient compared to Ripple’s far superior system, it’s only a matter of time before all top banks adopt its technology.
With XRP currently trading at around $0.198000, its value very low given that it’s all-time high price peaked to $3.84 sometimes back. This is a very attractive entry point for people who feel terrified of the prices of Bitcoin and Ethereum.
XRP mainstream allure
At the moment, Ripple has more than 200 customers across the world under its wing. Moreover, more than 100 different banks have agreed to test its transfer protocol, with the intent to enact it.
Cons of investing in XRP
As things stand, Ripple’s biggest competitor is SWIFT. The system is the largest in the world and over 10,000 different institutions use it. Additionally, the entry of well established global companies into the market such as JP Morgan stablecoin and Facebook Libra, which are direct rivals to XRP.
Finite XRP token supply
Unlike Bitcoin and Ethereum, all of the 100,0000,000 XRP tokens are pre-mined. This means there will be no new Ripple tokens released into the XRP market. As such, its developers have gone to hold vast amounts of XRP which is a big worry. For instance, Ripple chairman Chris Larsen holds about a third of XRP’s total supply. This is against the values of decentralization which is key to digital currencies.
There are several significant factors across the Ripple cryptocurrency that may vastly influence the future direction of its price action. Ripple had one of its most important years back in 2019 with success in expanding its catalog of institutional clients and strengthening its position in the cross-border payments industry.
Despite all that, this year brings positive perspectives for the potential to grow, with 2020 being the year of Bitcoin Network block rewards halving. The entire altcoin market has a firm relationship with Bitcoin, which just underwent the halving. Nevertheless, XRP investors should analyze the increasing popularity of stablecoins in the market, which can create strong competition for XRP in the long run.
- Ripple and XRP functions- a payment protocol tailored to move value across borders securely, fast, and transparently. Ripple’s primary targets are financial institutions and payment networks.
- XRP has successfully sustained its position among the top five elite digital currencies for years now. This is not a simple challenge given the rivalry in a world with thousands of different cryptocurrencies.
- Ripple and Ripple Labs are increasing their efforts in adding more banks as the company gradually progresses towards its set targets. Unfortunately, this is not a guarantee that Ripple’s price will rise.
- Alongside Bitcoin and Ethereum, Ripple remains among the most thrilling cryptocurrencies in the market.
- However, Ripple’s aim for XRP is quite contrasting to what Bitcoin or Ethereum is aiming to accomplish. XRP was specifically designed to make transactions faster and low costs than any other virtual asset.