Digital currencies are gaining in popularity day by day in recent years. XRP (Ripple) is one of the four cryptocurrency leaders, along with Bitcoin, Ethereum, and Tether. This reality alone helps one look at the Ripple project more closely.
XRP has been showing rapid progress throughout its lifetime, and its price has seen a substantial improvement.
In this article, we will provide with the new XRP coin developments, as well as the whole Ripple ecosystem. We will attempt to research its past, attributes, vulnerabilities, and capabilities, as well as to determine Ripple’s future prospects.
Definitely it is worthy to invest in Ripple! But why?
Currently, 55 billion out of 100 bln XRP coins are in escrow. This means it avoids the decrease in the Ripple price.
Ripple aims to establish quick, safe, and cheap exchange procedures all over the world.
Ripple platform allows only the pre-approved participants to manage a node and verify XRP transactions.
Hence, Ripple accounts to be the fast, secure and versatile payment platform that allows transactions free from government intrusion and bank participation. The exchange fees also stay agreeable with 0.00001 XRP which is nothing in comparison to the cross-border payments. Now let us check out what XRP forecast for 2020 is.
Table of contents
|Market cap||$10,709,827,494 USD|
|Circulating supply||45,284,665,028 XRP|
|All time high||$3.84 USD (Jan 04, 2018)|
|All time low||$0.002802 USD (Jul 07, 2014)|
What Is Ripple?
Ripple was first released in 2012, and similar to Ethereum, it is widely used to describe both its payment network and its native currency. In fact, its network is called RippleNet, while Ripple XRP is its crypto currency.
Ryan Fugger first expressed the concept behind the Ripple payment network in 2004, but it was not until Jed McCaleb and Chris Larson took over the project in 2012 that Ripple started to be created.
Ripple (XRP) is the currency that runs on RippleNet, a digital payment network, which is on top of the XRP Ledger distributed database. The XRP Ledger is open source and is not based on a blockchain, but rather on the distributed ledger database.
Ripple Price Today
Today’s XRP price is USD $0.236500 with a 24-hour trading value of USD $3,083,272,646. In the last 24 hours, XRP is up by 2.09 %.
With a market cap of $10,709,827,494 USD, the latest CoinMarketCap rating is # 4. The circulating supply of XRP coins is 45,284,665,028.
Ripple Technical Analysis
The coin entered the market at a cost of $0.0058, the price for many years kept the same. In March-April 2017, the first price jump occurred. The coin soared to $0.03 within a few months. The growth was rapidly followed by a further market pump in May to $0.2.
The explanation for such a quick uptake was the news that Ripple’s network joined Bank of Tokyo-Mitsubishi. The Bank of Tokyo is the third largest bank in the entire world.
The XRP price, with some pumps here and there, fluctuated between $0.18 and $0.3 throughout 2017. The new XRP ‘rally’ began with BTC ‘s growth in December 2017. Bitcoin and cryptocurrency markets witnessed a positive trend with huge price growth at that period. As a result, the crypto-currency hit $1 per coin and over $3 in January 2018.
In February, the coin fell to $0.07 and re-pumped to $1 per XRP. The currency kept its price position for one month and then continued to decline. It got to $0.5 again in April due to Bitcoin which managed to overcome the $8000 mark. Most cryptocurrencies imitate the flow of bitcoin, which is popular in this industry, and Ripple is no exception. The coin then began to decline steadily and hit $0.26.
In September, Ripple announced the release of xRapid, a forum for payment services and financial institutions. XRP quotes began to climb in the midst of the announcement and the asset even managed to briefly shift Ethereum from second position on the CoinMarketCap list at some point, showing more than 100 % growth.
The digital coin traded between $0.5 and $0.39 until November and then plummeted to $0.28 in December 2018. The XRP average was roughly $0.3 for almost half a year. The demand began to rebound in April 2019 and the coin soared to 0.4-0.45 USD in May.
Ripple (XRP) Price Prediction 2020
In January 2020, the XRP was valued at around $0.20 a coin. Then a rapid bull rush took place, driving the market into the $3 mark. In January, and till the beginning of March, it had acquired over 150% of its starting price and was ranging at around $0.35.
XRP, however, began to see a steady fall in its price by the end of the first quarter, escorting the price down to $0.15 by late March. A minor market rebound happened in the second quarter of the year, in April.
Although this was not enough to drive rates up to their year-to-date peak, little profits from what was accrued in the first quarter are still competing for the top crypto.
XRP Price Prediction 2021
Blockchain standards are predicted to grow by 2021, according to the new report by Moody’s. Ripple is the third largest cryptocurrency, and by 2021 it is looking for a lot of advancements.
As per the XRP price patterns, analysts expect that endless collaborations will be entered into with financial institutions. By 2021, the $2 mark could be touched by XRP.
XRP 5 Years Price Prediction
In the next 5 years, XRP may progress to record prices within the $4-$8 vicinity. However, the most workable idea is to expect a midpoint. As adoption matures, users will be able to buy Ripple in the most affordable and convenient way. By 2025, it is feasible that XRP price may reach as high as $6.
Ripple Market Prediction
With this volatile market, predicting the price for cryptocurrencies is quite difficult. To get a clearer idea on the Ripple price prediction, let’s consider some of the imminent publications and personalities, and their statements regarding the Ripple price prediction:
A website for crypto prediction, UsLifted, forecasts that XRP will hit new heights by 2020 and with a circulating supply of 38,739,145,924 XRP would reach $22.79.
An ambitious bullish outlook for 2020 has been made by Market Haven, a crypto prediction platform, as it claims 2020 will be a flawless year for Ripple. XRP could reach as high as $20 by 2020, they said, as XRP claims it has the greatest capacity of all other cryptos.
Ripple coin news
Ripple coin news, the second-largest traffic-based news website, predicts that the coming years will appear as a smooth time for Ripple as there would be an extension to the alliances and emerging innovations that will raise its price to 8 to 10 dollars.
In one of their posts, Oracle Times recently reported that they expect that XRP could rise as much as 2000 %, and they claimed that it could only be feasible if Ripple were the best option for financial institutions to make cross-border payments.
According to all of these predictions, the majority of the companies are sure Ripple will not reach $10. But, the price of $5 is the realistic sum. Eventually, the value $5 will also represent 15x ROI which is actually great.
Our XRP Predictions
Ripple is best known for its RippleNet technology, which is a bank-to-bank transfer mechanism where cross-border transfers can be made instantly, and has achieved a great deal relative to the previous year.
It is expected to extend to more nations in 2021 and intends to double business inflows compared to $2 million in the previous year and has already begun to do so. To be conservative, XRP might reach $1.20 by the end of 2021. It might even reach $2 at most.
XRP Influencer Price Prediction
Roman Guelfi Prediction: Roman Guelfi is one of the respectable crypto enthusiasts and experts who believe Ripple will achieve bigger milestones in the year 2020. Explaining further he said, as the market starts observing huge invasion of projects, other cryptocurrencies may take a step back and XRP will sway above all.
Ripple (XRP ) News
Ripple Announces Line of Credit
On Oct 09, 2020, Ripple Announces Line of Credit that enables Instant Cross-border Payments From RippleNet
Super Smash Bros Professional Player Signs Contract with SBI to receive salary in XRP
On Oct 15, 2020, Super Smash Bros Professional Player Signs Contract with SBI e-Sports to Receive Salary in XRP
No, XRP cannot be mined as the individuals who can generate XRP are the ones who can release them.
The main difference between them is the transaction time, Bitcoin takes around 10 minutes while XRP takes around 5 seconds.
XRP might reach $1.50 by 2021.
Ripple might grow higher in value by 2025 and might trade at $4.52