Ripple (XRP) Price Prediction 2020
September 24, 2020
Ripple (XRP) Price Analysis
Ripple is a top three currency, according to today’s market capitalization. The only rivals are Bitcoin and Ethereum. Due to its technological sophistication and high speed, XRP has received significant attention in the industry. Since its launch in 2013 until early 2017, the coin’s price did not exceed 0.02 USD. Due to the growth of Bitcoin, Ripple’s price increased to 0.2 USD.
By the end of 2017, it reached an all-time high of 3.3 USD. Similar to all cryptocurrencies, its price fell in 2018 and ranged between 0.27 USD and 0.28 USD. Its value rose, and it became the second-largest cryptocurrency according to market capitalization. However, its value continued decreasing, and Ethereum regained the second position.
At the time of writing, the XRP price was 0.2736 USD, with a market capitalization of 27.36 billion USD. Ripple has a maximum supply of 100 billion coins, with a circulating supply is 43.2 billion coins. Its peak was January 2018 when one coin costs 3.84 USD.
Ripple (XRP) Price Chart
Figure 1 Showing Ripple all-time price chart
Market Prediction for Ripple (XRP) in 2020
There is still a strong link between the token exchange rate and the price of Bitcoin. Ripple is rising and falling, similar to other cryptocurrencies in the market. The coin is an affordable and convenient means of payment. Its price history chart shows that it stagnated in 2019. Although the cryptocurrency market has been on an upward trend, Ripple was unable to increase beyond 0.4 USD in 2019. The future is not predictable. However, historical data can offer valuable information about the future.
Ripple CEO, Brad Garlinghouse, Ripple (XRP) Price Prediction 2020
Brad believes that most cryptocurrencies will be unsustainable in the future. However, he mentions that only one coin can solve the current problems in the long term, Ripple. Brad is confident that Ripple will perform remarkably in 2020.
CryptoMaps CEO, Craig Cole, Ripple (XRP) Price Prediction 2020
Craig mentions that Ripple could be the catalyst that would make the crypto market more mainstream. He believes that more financial institutions will use the currency because of its low transaction costs and faster transaction speeds. He adds that the coin is helping financial institutions to reduce costs and has the potential to disrupt the market.
CEO Ethereum, Vitalik Buterin, (XRP) Price Prediction 2020
Vitalik mentioned on Twitter that XRP is a stable coin that can rival all other cryptocurrencies. Its stability and success are based on its cross-border transactions and its ability to attract financial institutions.
Josh Lin, Talent Sourcer at Ripple | Asymmetric Value Investor
He believes that Ripple (XRP) is headed towards a direction much more significant than just increasing the price of XRP. However, more financial institutions will bring more volume to the XRP ecosystem. New technologies will be incorporated, and XRP will have a bright future.
Ripple (XPR) Price Prediction 2020
One of the factors affecting Ripple’s price prediction is its technology. As mentioned earlier, it does not use blockchain technology. It uses gateways and decentralized servers. If more financial institutions adopt technology, it will have a positive impact on its price. It will facilitate international payments.
Media hype has an impact on the crypto industry. Marketing teams behind cryptocurrencies use media hype to boost coin prices. Ripple’s marketing team is made up of highly skilled individuals in technology and finance. The team can take advantage of the hype to improve Ripple’s prices. However, the media may also have a negative impact. Negative news can turn hype upside-down instantly and cause coin prices to reduce.
The other factor is crypto holders. There are people who own large numbers of coins. Such people can affect coin prices with their actions. These coin holders are described as ‘whales.’ Most of the whales are located in South Korea and Malta. Their actions can significantly influence the crypto market.
The fourth factor is the South Korean Government. The country incorporated XRP into its daily use. The government’s actions towards Ripple have a direct impact on Ripple’s process. When the South Korean government made anti-money laundering laws, it affected Ripple. Accounts that did not comply with the regulations were frozen. It changed the price and flow of XRP.
Atomic Wallet will allow you to take advantage of the price fluctuations to make an extra income. The wallet will enable you to buy, sell, and exchange Ripple at the best exchange rates in the market.
Ripple (XRP) Price Prediction Verdict
The cryptocurrency market is dynamic. Coin prices change instantaneously. Such is the case with Ripple as well. The company’s actions show that they are on the correct path. Ripple is continuously working to enhance its process. Its technology is being accepted by more financial institutions globally.
There is a quickly changing regulatory environment. Many governments are attempting to regulate the crypto market in their jurisdictions. Ripple has not been exempted from the increasing regulatory climate. As mentioned earlier, the South Korean government implemented anti-money laundering laws. The move affected many coin holders.
Although Ripple’s price fluctuated significantly in 2019, coin prices remained below 0.4 USD. Other than the January 2018 all-time high peak of 3.3 USD, XRP has been unable to retain its upward momentum. Also, Ripple is facing a lot of competition from other coins. The outcome of the rivalry is uncertain.
Ripple will have a sustainable and long term success if it continues building strong relationships with financial institutions. It should grow its relationship with the media. Also, coin holders should stay updated on the factors affecting Ripple prices. Staying up-to-date with current news will allow a person to take advantage of price fluctuations in 2020.
What is Ripple (XRP)?
Ripple is a currency exchange, real-time gross settlement, and remittance network. It was released in 2013 by Ripple Labs Inc. The platform is built according to a distributed open-source protocol. Also, it supports token representing commodities, fiat currency, cryptocurrency, and other units of value.
It uses a native cryptocurrency called XRP. Currently, It is the third-largest coin by market capitalization after Bitcoin and Ethereum. XRP provides financial institutions with the lowest cost and fastest option for sourcing liquidity in cross-border payments.
Ripple (XRP) Main Features
Ripple coins have transaction reversibility: each transaction can be edited if canceled or if an error occurred. XRP has high-speed operations. The coin can no longer be available for mining. Its developers did not provide the option. Therefore, XRP cannot experience ‘inflation.’ It is easily exchangeable with other coins or value, including precious metals, gold, or even stock. Also, there is a high level of protection against hackers and spam attacks.
Notably, Ripple does not use blockchain technology. It uses gateways to conduct transactions. There are several servers in different countries to manage gateways. The number of its clients determines the value of the coin. Its clients are mainly financial institutions. The value of an asset is determined by the number of partner banks using the platform. When the organization signed a contract with at least 20 banks in 2016, XRP’s value increased by over 200%. A large number of coins issued influences the low value of the currency. If the number of coins decreased, the value of each coin would increase.
How to buy Ripple
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How to Exchange Ripple (XRP)
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