Ripple XRP is the cryptocurrency owned by Ripple – the company that aims to provide a global network that financial institutions and banks use to transfer fiat currency. The benefits of its features are boundless and include revolutionizing the global payments industry. That industry is currently in need of an upgrade, and Ripple can provide one using both their platform and coin.
2021 seems to be one of the most challenging years for the XRP. Analysts have divided into two groups. Some believe the cryptocurrency will leave the market soon. Others still hope for the XRP recovery as just recently, the coin was considered one of the most popular digital currencies. Until December 2020, Ripple was ranked third by CoinMarketCap and seemed to be a perfect investment.
At the beginning of 2021, the pair managed to recover from December’s lows. Still, the increase didn’t last long, and XRP/USD turned around. Will it break below the levels of the end of 2020, or will it gain enough strength to return to previous highs? Keep reading to see what analysts think.
- What Is Ripple (XRP)?
- Ripple Price Today (XRP/USD)
- A Retrospective Study – The Rush or The Crush? What the Technical Analysis Shows
- Ripple Price Prediction – Experts’ Opinions
- Have Previous Forecasts Worked Out?
- Month-by-Month XRP Prediction 2021
- Ripple Price Prediction for 2021
- Our Verdict on Ripple Price Prediction 2021 – Is It Good to Buy Now?
- Ripple Long-Term Price Forecast
- Bottom Line: What Does the Future of Ripple Depends On?
What Is Ripple (XRP)?
Ripple is a platform that has its own currency (XRP) and is known for its digital payment network and open-source protocol. XRP is the token used to represent the transfer of value across RippleNet. It allows for incredibly low currency exchange rates as XRP can act as a source of liquidity in real-time.
Unlike most cryptocurrencies that use a public blockchain ledger to support digital currency, the Ripple network uses a consensus algorithm (RPCA) to validate transactions through a network of servers. This method allows for almost instant confirmations without going through a central authority, allowing XRP to be quicker and more reliable than its competitors.
Since this method is also cheaper, Ripple has begun using this advantage to provide its network to help banking services. Their partnership with various financial institutions has been necessary for modernizing the way we move global payments.
Pros of XRP
- XRP has an extremely low price ($0.2593 as of 27.08.2020) vs. Bitcoin (over $10,000).
- Strong connection with banks confirms its reliability.
- The development of the platform ensures traders of XRP trustworthiness.
- It’s still one of the largest cryptocurrencies by a market cap.
Cons of XRP
- Although strong cooperation with banks serves as a benefit, it may become a limitation as the main idea of any cryptocurrency is decentralization.
- A low price may also signal a low interest of traders.
- The cryptocurrency has been stagnating for a long time. However, if the currency is boosted by exciting reasons, the price may skyrocket.
Ripple Price Today (XRP/USD)
XRP/USD began 2021 with a short-term uptrend. However, the strong resistance near 0.3250 didn’t allow the pair to continue the upward movement. The decline occurred due to the fall in the BTC/USD price. XRP/USD and BTC/USD have a strong positive correlation. As of January 17, 2021, the XRP/USD pair has been trading near 27 cents.
The market capitalization has fallen from $20,986,383,356 to $12,351,943,056.08. Currently, Ripple is ranked fifth. The circulating supply is 45,404,028,640 XRP (January 17, 2021).
What Happened to Ripple in 2019-2020?
Before recent events, the key advantage of XRP was its low volatility. If you look at the chart below, you will see that crucial fluctuations only happened in 2017 and 2018, although Ripple was first launched on a cryptocurrency exchange in 2013. The XRP/USD pair reached its highest level on January 4, 2018 ($3.84). However, the bulls were not strong enough, and the uptrend ended soon.
On January 1, 2019, the XRP/USD pair opened at 0.3483. In 2019, Ripple experienced a lack of partnerships. At the same time, the company was working on bettering itself internally.
In the first half of 2019, Ripple mostly worked with its trusted partners to evaluate their sources of legitimate trading volumes. In June 2019, XRP/USD managed to touch the high of $0.50. Yet, after that, the price began its long-term downtrend. The pair closed the year at $0.1925.
2020 promised to be more positive for the XRP price. From January 1 to February 14, bulls were strong enough to push XRP/USD to 0.3360. However, the following decline brought the price to the level of August 2017, when the pair traded below 14 cents.
Until July, XRP/USD was moving sideways, gaining strength. The bullish trend occurred again in July but didn’t last for long, ending at the beginning of August.
The pair had been skyrocketing from November 20 to November 25, peaking at 0.79.
What was behind these market fluctuations? The key reason was the positive correlation with the BTC/USD pair. Bitcoin dictates the main market trend, which XRP/USD followed until December 19, when the price moved down.
The slide was intensified on December 22 after the news that the SEC filed a case against the founder of Ripple, Christian Larsen, and its CEO Bradley Garlinghouse for receiving $1.3 billion by selling unregistered securities in the guise of XRP tokens.
That’s why the pair was delisted from many trading platforms and ended 2020 at the lows of July 27, 2020, with a shortened market capitalization.
A Retrospective Study – The Rush or The Crush? What the Technical Analysis Shows
As we have already mentioned above, the XRP/USD price managed to recover at the beginning of 2021. However, the short-term increase has been confusing traders.
If we look at the daily chart of XRP/USD, we can place the first resistance at 0.34 as the pair couldn’t break above it before. If the lawsuit is solved in favor of Ripple, the level can be passed. The next threshold is at 0.4750.
The Awesome Oscillator is still below 0. Yet, it signals a possible return to the positive area. If this happens, the pair will have chances to resume the bullish trend.
If the bears are stronger and Ripple falls below 0.21, the next support is placed at 0.14.
Moreover, Brad Garlinghouse announced their plans to move the company to another country if the US legislation doesn’t allow the crypto industry to develop.
The low levels are a perfect moment to buy low and sell high.
Ripple Price Prediction – Experts’ Opinions
Currently, it’s difficult to predict the direction of XRP. Some analysts believe the cryptocurrency will disappear soon; there is also a group of experts who say it’s just a short-term case that will end quickly. If Ripple can recover from the claim, the following forecasts will make sense.
A billionaire hedge fund manager, Will Meade, who worked for Goldman Sachs, is one of the Ripple enthusiasts. Although he knew little about the crypto industry, he claimed Bitcoin and Ripple have a shiny future. Mr. Meade forecasted that XRP would climb to $3 soon. Although the projection was made before the SEC actions, it can come true.
TradingBeasts.com, the website that provides cryptocurrency price prediction, forecasts the XRP trade within the $0.3669-0.3946 range. The year trend is bullish.
WalletInvestor has a negative view of XRP’s future. The website expects the coin will be near the 0.0 level during 2021.
Have Previous Forecasts Worked Out?
It’s always interesting to check whose forecasts have worked out. It helps define reliable prediction sources.
- Ripple Coin News , one of the leading news websites, predicted that the Ripple coin would skyrocket to 8-10 dollars in the coming years due to “an addition to the partnerships and new technologies.” As we can see, the prediction hasn’t worked out. It’s unlikely the price will rise to these levels in 2021.
- Investing Haven , the crypto prediction website, stated that a break above $0.30 would lead to a bullish movement in 2020 and further. However, market events are key factors of the price direction. As we could see, even a break above 0.70 didn’t allow the cryptocurrency to keep the uptrend.
- A well-known cryptocurrency analyst with a huge Twitter audience, Crypto Rand , was right in his prediction. Although his prediction was limited and undefined with the period, when the price broke above $0.30-$0.31, it surged to $0.47.
- Josh Olszewicz, an analyst of the cryptocurrency data provider Brave New Coin , said XRP would rise 66% in the months after it rose above $0.30. Again, the forecast worked out. However, we should mention the price broke above $0.30 several times. It’s not clear which one we should consider.
Month-by-Month XRP Prediction 2021
Although price predictions differ, we have made a general month-by-month price forecast for 2021.
Ripple Price Prediction for 2021
2021 will be a challenging year for Ripple. As the SEC lawsuit hasn’t been solved yet, its outcome will define the coin’s future. However, it’s unlikely the cryptocurrency will disappear. Let’s keep in mind that it’s still ranked fifth by the market capitalization.
Although the company may increase the number of agreements and expand into new countries, the SEC case will affect the coin during the year. That’s why we don’t expect the XRP digital currency to skyrocket above $1.
Our Verdict on Ripple Price Prediction 2021 – Is It Good to Buy Now?
There isn’t a 100% safe investment, as each decision comes with a few risks. It’s up to you to decide, and we can provide what you need to make an informed decision.
Although it seems the Ripple price is too low compared to BTC, and there is no point in investing in it, the price doesn’t matter when looking at the average growth. For instance, if you buy XRP now at 27 cents and the price rises to at least 54 cents, that’s a 100% increase.
If the company wins the lawsuit, the price will surge. Thus, you should follow the cryptocurrency news to be up-to-date and not miss the time for profitable investing.
Ripple Long-Term Price Forecast
Before we go into the specifics, here is what it will be affected by:
- Legislation. It’s the major factor that affects all cryptocurrencies as the legislation is still strict.
- Companies sales, development of the platform.
- Market sentiment, meaning, whether investors are ready to risk.
Brad Garlinghouse said that, by 2025, Ripple would become the Amazon of the cryptocurrency world.
- According to TradingBeasts.com, the coin’s average price won’t move above $0.50 from 2022 to 2024.
- WalletInvestor sees XRP below 10 cents in 2022. 2023 is supposed to become even worse – the price is expected to trade around $0.01. In 2024, XRP/USD won’t rise above $0.02. In 2025, the price will get a chance to trade above $0.02.
- com expects Ripple will be below 10 cents by September 2023. At the end of 2024, the coin will return to $0.10.
It’s hard to find forecasts for 2030. As you saw above, many predictions hadn’t worked out because the market situation can change fast and affect the price direction significantly.
CoinSwitch anticipates the XRP to surge to $17.0576 by 2030. The reason is the wide adoption of the Ripple network. The platform believes the XRP may become one of the most attractive cryptocurrencies.
However, these forecasts can only be approximate as the cryptocurrency market can fluctuate based on various factors.
Negative XRP Price Predictions
Like any cryptocurrency, there is always the risk of the coin crashing, and XRP is no different. XRP experienced a downfall in 2018 (as did many other cryptocurrencies on the market at the time) that it took a while for the company to recover.
With the low sales through 2019, XRP lost about 90% of its price compared to its peak in 2018, making it one of the worst cryptocurrency performers of 2019.
At the end of 2020, the cryptocurrency erased all the gains. Many analysts have to change their predictions due to the SEC lawsuit. The experts don’t believe the crypto asset has a chance to be above $1 at least until 2025. The average price will fluctuate near $0.30.
Some of the platforms that predict XRP’s future think it can fall below 10 cents and be near 0.
Positive XRP Price Projections
Ripple has been paying attention to the fluctuations in their coin value and ensured their company has diverse investments to stabilize and grow the coin price. The company is currently working with over 300 financial institutions, including the likes of American Express. These companies use RippleNet technology to improve
This guide aimed to provide the reader with the facts and history of Ripple and expectations or market researchers to ensure you have the information you need to decide if you want to invest.
Currently, the future of XRP is questionable. It’s unlikely the cryptocurrency will disappear. Still, the coin’s price will depend on the SEC lawsuit’s outcome.
Investors can breathe a little easier, considering influential individuals back their capital. The revolutionary company has the potential to disrupt current industries, is supported by said industry regulators, and has a team of experts at RippleLabs.
Ripple Price Prediction By Each Year
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