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. Leading market analysts have enthusiastic Ripple price predictions over the next few years. The expectation is that as the platform develops further, it will have a direct effect on the price of the currency. You may have clicked on this article wondering; how can the price of Ripple rise up in 2020? Let’s discuss the future price of the coin.
- What Is Ripple (XRP)?
- Ripple Price Today (XRP/USD)
- A Retrospective Study – The Rush or The Crush?
- Ripple Price Prediction – Experts’ Opinions
- Month-by-Month XRP Prediction 2020
- Ripple Price Prediction for 2020
- Our Verdict on Ripple Price Prediction 2020 – 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)
Throughout August 2020, the price has been fluctuating from 0.25 USD to 0.3291 USD. The price of XRP has been correcting through August after a significant rise in July.
What Happened to Ripple in 2019?
XRP experienced a stable market price ($0.005) from when it was launched in 2013 until early 2017. This changed in 2017 when its value skyrocketed that it reached a high of 2.4740 on Bitstamp by the end of the year and continued its bull run through early January 2018, hitting its record high of $3.31. After a market correction on January 8, the price steadily dropped for the rest of the year. As of December 2018, XRP traded at $0.36. Although 2018 was marked with a steep fall in the value of XRP, this did not stop Ripple from entering partnerships with top international money transfer companies. During this time, the company also began a new venture fund that aids startups in developing projects using the Ripple protocol and XRP and partnerships with various charities and funding for academic research initiatives. Following the downward trend of 2018, the company spent most of 2019 trying to break the losing streak. They paused on announcing more partnerships with various other companies and focused on bettering their company internally. They spent the first half of 2019 working with trusted partners to evaluate their sources of legitimate trading volumes to ensure their future reports would be as accurate as possible. This led to a high of $0.50 mid-year before bears swept in and erased most of the turnaround the company experienced. XRP was traded at $0.175 by the end of the year.
A Retrospective Study – The Rush or The Crush?
Ripple’s XRP sales continued in a downward trend through 2019 but underwent a massive decline after the company initiated a pause in programmatic sales mid-year. After a slight uptick through June, Ripple expected a bearish outcome while they addressed the issue of misreported trading volumes on cryptocurrency markets. These programmatic sales partners mainly execute trades passively, so their trading volumes don’t rely on but directly impact the price of XRP. Before the end of the year, the XRP price was near $0.19, making it a two-year low and the possibility of continuing to be bearish long term. According to Ripple’s blog post on the latest market reports, the total XRP sales in Q4 2019, after they paused programmatic sales, was $13.08 million. These sales are down more than 80% compared to $66.2 million they reported in Q3 2019.
Ripple Price Prediction – Experts’ Opinions
We have compiled what some experts said in terms of their predictions for the Ripple in the future:
Ripple Coin News
As one of the largest and reputable news sites, Ripple coin news predicts that
The crypto prediction website, Investing Haven, had an optimistic bullish prediction for Ripple through 2020 and further, stating that
Well known cryptocurrency analyst and industry favorite with over 200K Twitter followers, Crypto Rand predicts that, once XRP passes the trading price of $0.30-$0.31, their prices are likely to “moonshot” with at least a 50% surge towards $0.47.
Brave New Coin
Josh Olszewicz, a respected analyst working for the cryptocurrency data provider Brave New Coin, supported Crypto Rand’s bullish claims but predicted a 66% surge in the months after XRP breaks above $0.30.
Caroline Bowler, the CEO of BTC Markets, the Australian cryptocurrency exchange, says that Ripple’s On-Demand Liquidity is revolutionizing trade settlements and financial transfers. BTC Markets has been
Month-by-Month XRP Prediction 2020
Here were some Ripple price predictions made for 2020:
January: XRP will begin at $0.30. Max price will be $0.36 and min price of $0.30. The average for the month will be $0.33. The price forecast for the end of the month is $0.34, change for January is 13.3%
February: XRP will begin at $0.34. Max price will be $0.36 and min price of $0.32. The average for the month will be $0.34. The price forecast for the end of the month is $0.34, change for February is 0%
March: XRP will begin at $0.34. Max price will be $0.34 and min price of $0.27. The average for the month will be $0.31. The price forecast for the end of the month is $0.29, change for March is -14.7%
April: XRP will begin at $0.29. Max price will be $0.29 and min price of $0.22. The average for the month will be $0.26. The price forecast for the end of the month is $0.24, change for April is -17.2%
May: XRP will begin at $0.24. Max price will be $0.30 and min price of $0.24. The average for the month will be $0.27. The price forecast for the end of the month is $0.28, change for May is 16.7%
June: XRP will begin at $0.28. Max price will be $0.30 and min price of $0.26. The average for the month will be $0.28. The price forecast for the end of the month is $0.28, change for June is 0.0%
July: XRP will begin at $0.28. Max price will be $0.30 and min price of $0.26. The average for the month will be $0.28. The price forecast for the end of the month is $0.28, change for July is 0.0%
August: XRP will begin at $0.28. Max price will be $0.31 and min price of $0.27. The average for the month will be $0.29. The price forecast for the end of the month is $0.29, change for August is 3.6%
Septemer: XRP will begin at $0.29. Max price will be $15.89 and min price of $0.23. The average for the month will be $0.27. The price forecast for the end of the month is $0.25, change for September is -13.8%
October: XRP will begin at $0.25. Max price will be $0.27 and min price of $0.23. The average for the month will be $0.25. The price forecast for the end of the month is $0.25, change for October is 0%
November: XRP will begin at $0.25. Max price will be $0.25 and min price of $0.20. The average for the month will be $0.23. The price forecast for the end of the month is $0.21, change for November is -16%
December: XRP will begin at $0.21. Max price will be $0.21 and min price of 0.17. The average for the month will be $0.19. The price forecast for the end of the month is $0.18, change for December is -14.3%
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Ripple Price Prediction for 2020
2020 seems like a promising year for the crypto market in general, and Ripple should be one of the first to reap those benefits as XRP is forecasted to be among the leading cryptocurrencies. This is unsurprising as the company is very attractive to investors. Ripple is expected that the company may continue expanding into more countries, increasing their market inflows.
Apart from partnerships with traditional financial institutions, Ripple is predicted to begin working with other digital currency payment processor companies. This prediction is strengthened after one of Ripple’s platforms, Xpring, was announced to aid in XRP installments on BitPay and incorporate BitPay Wallet with Xpring’s designer stage.
Several predictions are bullish on XRP through 2020 due to their many investments and partnerships. There is the possibility of XRP reaching the price target of around $1.20 closing 2020. However, Ripple still prepares for the price to go on a bearish trend as they claim that an uptick in FUD (fear, uncertainty, and doubt) and misinformation about XRP may cause sales to drop.
Our Verdict on Ripple Price Prediction 2020 – 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.
Will XRP reach $100 before the end of the year? That’s incredibly optimistic, but you never know in a crypto market. Whether it reaches $100 soon or not (almost certainly not), Ripple coin has experienced unprecedented growth in recent times and many more partnerships with payment providers. The company also released a few more products, including xRapid, xCurrent, and xVia, all of which influence and improve XRP’s worth in the blockchain network.
Ripple Long-Term Price Forecast
After looking at the company’s journey over the last few years, price analysis showed optimistic predictions for Ripple. 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.
Through the next five years, XRP may progress to record prices of around $4-$8 though a more conservative bet would be to expect the price to reach the midpoint. This may come through partnering with more European and Latin American banks who will use Ripple’s platform and trade with XRP. As it stays on the market for longer, more customers will be able to buy Ripple affordably and conveniently. By 2025, the price of XRP may be as high as $6.
Crypto market analysts believe that Ripple will carry on with the projected growth in the next five years, and some projections report that Ripple’s value may go up to $200-$300. With the kind of investments Ripple makes, it wouldn’t be a surprise if they become a leading cryptocurrency even into 2050 or climb towards $10,000.
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 alwayцs 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 recently through 2019, XRP has lost about 90% of its price compared to its peak in 2018, making it one of the worst cryptocurrency performers of 2019. Coupled with a volatile market, and a few predictions from WalletInvestor (that the coin may drop to $0.04), and LongForecast (that the average XRP price may be $0.26 in 2020 and then $0.25 in 2021), XRP may be looking at a bearish short-term future.
Moreover, the company’s prolonged lawsuit may influence XRP’s future. While the company has not claimed their tokens were allegedly sold as unregistered securities, the case has not been overthrown yet.
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 their payment services. As the partnerships continue to rise, so does the value and price of XRP, at least in the long term.
There is also a possibility of a Ripple IPO this year. An IPO could be bullish long term on XRP investors as it brings in a number of retail investors with a new interest in crypto and blockchain.
In addition to working with more exchanges, including powerhouse Binance, Ripple is currently testing XRP as a replacement for SWIFT money transfers. These smart investments make Ripple one of the few blockchain unicorns whose coin price is only on its way up.
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.
The price of XRP is forecasted to grow over the next few years, especially after the company has gained the support and respect of a few notable names in the investment sector. 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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