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. The magnificent rally that led the price jump close to $2 made the asset one of the top 3 cryptos with more than an $88 billion market cap.
With varying trends seen in the crypto market, Ripple has been one of the top four popular cryptos maintaining sidelines with Bitcoin and Ethereum for years. It has been streamlining and sustaining its position for the past years.
Did you know that, unlike Bitcoin, Ripple cannot be mined as it already exists?
Since mining involves electric units as the computer systems consume power, this has led to greater exploitation. Thus, Ripple goes the eco-friendly way and is sustainable.
The currency of Ripple is XRP. Though the two terms are synonymous among people, they do not mean the same. The cryptocurrency is XRP and Ripple is the US-based company that is behind XRP.
XRP has been showing rapid progress throughout its lifetime, and its price has seen a substantial improvement. Despite all the odds against Ripple, XRP price remained less impacted and propelled accordingly. Many experts believe XRP price is highly undervalued and may swell notably in near future.
In this piece of writing, the developments within the Ripple ecosystem and its native token along with the future price movements are covered. This may assist the new and the current traders to jump into the ecosystem and hold some XRP.
Table of contents
|Circulating Supply||46,151,013,329 XRP|
|All time high||$3.84, Jan 04, 2018|
|All time low||$0.002802, Jul 07, 2014|
What is Ripple(XRP)?
Ripple was first released in 2012, and similar to Ethereum, it is widely used to describe both its payment network and as a cryptocurrency. Its payment network is called RippleNet, while XRP is its native currency in use to carry out cross border transactions that can also be traded.
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 in creation.
But Ripple Labs came into the scene by 2012 and XRP saw its better version from then.It was first developed as a cryptocurrency for powering the Ripple network as it was sent digitally.
XRP can resolve several issues faced when using bitcoin like low speed and huge transaction fee. The transaction speed of ripple is only around 4 seconds and around 1,500 transactions can be handled hassle-free per second.
Ripple Labs created 100 billion XRP tokens initially that operate independently from Ripple.There are more than 30 exchanges for XRP and the most popular ones are Binance and Upbit. Ripple can be exchanged easily for any other currency in the market, because of its special selling proposition.
Thus, 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 based on a distributed ledger technology.
XRP price after hitting ATH in 2018 remained silent without a massive rally for a couple of years before it initiated a bull run in 2021.
Fun Fact About Ripple
XRP, the currency of Ripple, is the only digital asset specifically in design for financial institutions and payment providers. This happened because Ripple is a digital payment protocol. XRP is the only crypto that came into existence with a clear use case behind it!
XRP Price Prediction For 2021
The price jumped from $0.2 to more than $0.5 in February and traded above $0.4 until a huge spike rallied the price close to $1 in April. Later, the price eventually crossed $1 and reached the yearly highs at $1.9.
The price of XRP skyrocketed in 2021, despite the legal battle against the SEC and Ripple’s CEO. Although, there has been some good news to XRP HODLers as there were rumours of the case against XRP being weak. XRP has made significant gains and remains bullish, matching the sentiments of investors.
As per the XRP price patterns, analysts expect collaborations with financial institutions could drive the altcoin price.If this happens
By the end of 2021, being a fast and less costly cryptocurrency, XRP can easily grab many investors. Thereby the price might hit the $1.673 mark with a bullish market.
On the contrary, if a bearish trend outperforms the bull, the price may decline for a short term, estimated to decline near $1.001 and may recover within a small time frame. However, if it maintains the current market dominance of 2.65%, it may trade at $1.213, by the year-end.
Ripple Price Prediction 2022
If XRP closes this year hitting the lows, then it might resume next year’s trade with a bearish note. In that case, the XRP price starting January may be near $1.017.
On the other hand, if 2021 hits new highs and closes, it might continue the same trend and commence 2022 with a bullish trend. If this happens, the XRP price may be at $1.681.
The Ripple-SEC lawsuit might carry out till 2022 and moreover, the outcome is expected to come out in favour of Ripple. In such a scenario, the XRP price is expected to propel at a higher pace. And therefore, the price may hit near $2.44.
However, if XRP finds it hard to survive the cryptocurrency regulators in countries like the US, the price might collapse and fall to $1.269. On the other hand, if XRP manages to survive all odds, like the ban or criticism regarding the network and bring improvements, it may be seen exchanging for for $1.646.
XRP Price Prediction For Next 5 Years
Ripple is in talks to work with more European and Latin American banks who will further promote both XRP and Ripple payment technology. Such advances could lead to significant price changes in the token price of the XRP. This can draw further investors and cause the XRP price to race to a $4.651 mark by the end of the next five years.
If the market is subjected to a crash any time in the next five years as it did, the price can reduce to approximately 50% and see its low at $1.566.
However, if Ripple manages to carry over the persisting investors by maintaining a steady network with all its benefits, then by the end of next five years, the price may be seen at an average figure of $3.22.
Ripple (XRP) Market Prediction
A website for crypto prediction, Digitalcoinprice.com, have revised their forecasts that XRP will hit $1.88 by the end of 2021 to $1.46.
Currently, they predict that by 2022, the price might be $1.81, which is twice its current price.
- Trading Beasts
An ambitious outlook for 2021 has been made by Trading Beasts has changed their forecast of the price to hit $1.23 with a jump of 31.55% by the end of year.
An extreme bullish prediction is rolled out by Primexbt as they hope the price would hit $4 by the end of 2021 and reach $22 by the end of 2022. Interestingly, the platform predicts the price to hit a three digit figure in 2023, hitting nearly $160 and plunging slightly to $140 by 2024-25.
According to walletinvestor, their altered price forecast states that XRP price might surge gradually and hit $1.97 in the coming year. They suggest XRP to be a profitable investment and quotes +31.96 as the long term earning potential in one year.
The coinswitch analysts the price may hit $2 by the end of 2021 which may go as high as $4.52 by the end of 2025.
Our XRP Predictions
Ripplenet, the cross-border payment platform is expected to expand to many other nations in the coming days. Moreover, the SEC’s lawsuit is also expected to settle in the coming days, and hence with such positive market sentiments, XRP price may get a huge boost and it may hit $1.5 or $2 by the end of 2021 and eventually end up smashing $4 in the coming years.
On the flip side, the Lawsuit may drive a negative impact among the traders, if the case is held back over the years. If this happens, Ripple will lose a huge sector of its investors and the price might drop to $1.3 in the next year.
Historic Market Sentiments
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 of the previous year’s development, 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. 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 the 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 price remained almost constant throughout the year with considerable and small spikes. The price was still at $0.28 for the first few months of 2019. Then it saw a steady increase to $0.3 It further plunged to a greater extent and was closed at $0.19 on December 31, 2019.The price failed to sustain above $0.2 levels and eventually dropped down to close the yearly trade at $0.19.
The XRP price which began trading around $0.23 spiked above $0.3 for a very short duration and plunged back below $2. The price traded within $2 till the end of November as the volumes were very low. By the start of December, the volumes soared like never before that rallied the price to $0.6, woefully plunged back to $0.2 to close the yearly trade.
No, XRP cannot be mined as the individuals who can generate XRP are the ones who can release them.
XRP Price is predicted to grow in value and could reach the price of $5 according to experts. The Altcoin, in particular, is predicted to grow in value. It is estimated that the crypto could reach the value of $10 in a period of two to five years, according to some experts and market analysts.
XRP might reach $1.50 by 2021.
Ripple might grow higher in value by 2025 and might trade at $4.52