What about Ripple's falling price
Ripple Prediction: Could XRP Hit $ 1 In 2020?
In the past few years, Ripple has made headlines by being at the forefront of building meaningful relationships with traditional financial institutions around the world. In contrast to many of its partners, the project continues to focus on cross-border transactions and thus pursues the main goal of revolutionizing international payments with its innovative solutions.
Ripple's native coin, XRP, the third largest cryptocurrency by market capitalization, is already on the heels of industry veterans: Bitcoin (BTC) and Ethereum (ETH).
But after the infamous crypto winter hit the industry in 2018, altcoin price struggled to hit record highs yet again. In addition, many are still arguing about the nature of this cryptocurrency, which is causing a lot of controversy around the project and doubts about its future.
Now that XRP is trying to finally surpass $ 0.30, investors in the community are betting on whether the coin will hit $ 1 by the end of this year.
Would you like to invest in Ripple currency but don't know how it will perform in the foreseeable future? You are spot on here. In this article we summarize the basics of the project and look at the recent price fluctuations as well as the latest Ripple price forecast for 2020 and beyond.
What is Ripple about?
Ripple's roots go back to 2004 when Ryan Fugger designed the first prototype of a decentralized payment system called RipplePay. A year later the system was introduced with the aim of offering reliable payment solutions within a global network.
In 2012 it was renamed OpenCoin. The goal of the project since then has been to develop a protocol that offers innovative and practical payment solutions for banks and large financial institutions.
In 2015, the company returned to its current name: Ripple.
The system is powered by the XRP cryptocurrency. It is designed to simplify financial transactions by making them faster and cheaper.
What makes Ripple attractive to investors?
Unlike other cryptocurrencies, the project does not attempt to oppose the current financial system of banks and governments. In fact, Ripple is doing its best to integrate with it. With such great ambitions, the project should be a success.
Ripple has confirmed that it has signed over 300 banking and financial customer partnerships.
The list includes global names including Euro Exim Bank, Barclays, HSBC, Accenture, MoneyGram, JNFX, FTCS, BFC Bahrain, ConnectPay, Ahli Bank of Kuwait, Transpaygo, GMT and WorldCom Finance.
A year ago, CEO Brad Garlinghouse said, "We are now signing with two, sometimes three, new customers a week. We also have 350% more live payments that customers made last year. And we're seeing more customers go to the counter." Press and leverage XRP for on-demand liquidity. "
In October 2019, Bank of America confirmed a collaboration with Ripple's XRP ledger to test the distributed ledger technology for cross-border payments. However, it was also stated that the institution does not yet intend to use XRP.
Recently, another major financial institution announced a partnership with Ripple. The Egyptian National Bank has signed a cooperation agreement to create new channels for remittances.
The latest news proves two points. First, there is great interest from the institutional side. Second, Ripple's core team can easily boast great strategic expertise.
The general recognition of the project continuously strengthens investor confidence in its bright future.
XRP performance over the years: a crypto star?
Should i invest in Ripple? Many asked this question back in 2018 after the coin rose from $ 0.006 to over $ 3.8 in less than a year.
In 2012, the coin launched at around $ 0.005. Its value remained rather flat until the entire crypto industry experienced an incredible boom in 2017.
The first peak occurred in May 2017. Back then, XRP rose to $ 0.36 per coin amid Ripple's office opening in Mumbai. For the next six months, prices hovered around $ 0.20.
The second peak was recorded in January 2018. On January 4th, XRP hit its all-time high of $ 3.84. However, the price then gradually began to decline until it dropped to $ 0.29 in September. Short-lived upswing drove the coin price up to $ 0.56. In 2018, XRP closed at $ 0.35.
In 2019, the coin didn't have a significant breakthrough, hovering in the $ 0.2 - $ 0.5 range. After XRP hit a low of $ 0.17 in December, the price of the third largest cryptocurrency rose to $ 0.33 in eight weeks, representing a gain of almost 100%.
Now that XRP is around $ 0.30, analysts have split into two camps. Some are certain that more upward movements are likely for the prominent coin, while others say it has the potential to decline dramatically again.
When you analyze the dynamics of the XRP course, it's easy to see that Ripple news plays a crucial role in coin valuation.
Every time the company announced a new partnership with a major bank or payment service, it always triggered short-term price increases in the XRP price.
And what does the XRP forecast look like for the coming years?
What the future brings: Ripple price forecast for years ahead
Some financial giants like JPMorgan are now working to launch their own digital assets, some of which will likely offer services very similar to Ripple. If this is actually to happen, the adoption rate of XRP will drop significantly, which will lead to possible coin devaluation. This remains one of the biggest problems that make many concerned about the future of the project.
Simple and intuitive platform
The only way for Ripple to avoid this pessimistic scenario is to promote its currency not only as a means of payment but also as an investment vehicle.
Looking ahead, Brad Garlinghouse said in his Bloomberg interview regarding the Ripple price prediction: "I am not thinking of the price of XRP in a short-term perspective. I think if we can make XRP the most efficient currency in terms of the speed of a currency Transaction and the cost of making a transaction, more and more people will use them. "
Even if Garlinghouse's determination to be there for the long term might reassure some investors, do all analysts remain equally optimistic?
Is it worth investing in Ripple in 2020?
Crypto Rand, a prominent cryptocurrency analyst and a major figure in the industry who has more than 200,000 followers on Twitter, said that if XRP breaks the current price range (between $ 0.30 and $ 0.31), it is likely that prices will skyrocket. His chart indicated that if the price closes above $ 0.31, its historical resistance level, a few times a day, it will rise at least 50% towards the $ 0.47 resistance level.
Josh Olszewicz, analyst at cryptocurrency data provider Brave New Coin, supported this XRP forecast.
He noted that if XRP breaks above its historical resistance level of $ 0.30, the cryptocurrency could rise 66% to $ 0.50 in the months that follow.
Meanwhile, Peter Brandt, a commodities trading veteran, said the XRP price could plunge to $ 0.2071 in the short term.
According to Walletinvestor.com's XRP price prediction, XRP is a "bad, high-risk 1-year investment" option. In a year the price is expected to drop to $ 0.02 by December 2020. Five years from now, the cryptocurrency is expected to cost $ 0.029 in February 2025.
TradingBeasts.com predicted that XRP price would hit $ 0.361 by early March. In the long term, the coin is unlikely to fluctuate much, with this year's average being $ 0.34. By December 2025, the value is estimated to grow a little, reaching $ 0.52.
Based on the opinion of another popular forecast website Longforecast.com, the XRP price will be $ 0.17 in December 2020. They forecast a steep decline in 2022, with the price dropping to $ 0.09 by the end of the year.
A much more optimistic Ripple future forecast was offered by Cryptoground.com. They forecast XRP to trade at $ 0.348 within a year, rising nearly 28% in the process. Growth is expected to continue, with the coin reaching $ 1.9422 in five years.
Looking ahead, DigitalCoinPrice.com states in its Ripple forecast that XRP will have moderate price growth. The positive trend is expected to prevail, with the coin trading at $ 0.54 by the end of 2020. In advance, they predict that the cryptocurrency will reach $ 1.23 by 2025.
The Ripple forecast presented by CoinSwitch assumes that the XRP price will increase gradually and finally reach the $ 1.10 mark in the middle of the year.
They believe that if Ripple continues to develop rapidly and have independent trading platforms and investment routes such as Bitcoin and Ethereum, the coin can hit the $ 2 mark by 2021.
Is Ripple a Good Investment?
As with any other asset, there is obviously no specific answer to this question. Since the market is very dynamic, this presents a challenge in deciding which cryptocurrency to invest in.
Its volatility makes it quite difficult to predict the coin price in a few hours, and even more difficult to make long-term forecasts.
Although Ripple is growing very quickly and attracting a lot of attention from large financial institutions, many are still arguing whether the project will be successful in the face of increasing competition.
When considering Ripple investments, always keep an eye out for the latest technical analysis, expert opinion, and market trends. It is always important to equip yourself with as much knowledge as possible in order to develop a successful trading strategy.
If you feel you are unwilling to make long-term investments but still want to try to capitalize on the volatility of the crypto market, you can do so through Contracts for Differences (CFD).
Learn more about CFD trading from our free online courses and how to invest in Ripple CFDs. Stay up to date with the latest Ripple news on Capital.com.
What do you think of the future of this digital coin? Do you have a positive or negative attitude? What does your own ripple forecast look like?
Follow our live XRP / USD chart and make your own bets!
Trade Ripple to US Dollar - XRP / USD CFD
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