Overall, technical analysis and expert opinions are varied regarding the Ripple Price Prediction. Some predict that Ripple can increase by over 200% in price, whereas othersjdjdjd believe it could hit a new milestone of $10 per token. Either way, it looks to have a potentially bright future ahead!
“Whatever happens to bitcoin, other cryptocurrencies are gaining ground and more respect.”– Richard Quest
Since the birth of Bitcoin in 2009, we’ve seen an abundance of altcoins come along. Few have been around as long as Ripple, nor have they shared its impressive journey. Since 2012, this blockchain-based digital payment network has revolutionized digital transactions for everyday users and critical financial institutions.
Ripple boasts a wide range of impressive advantages over Bitcoin and other significant crypto assets, from lightning-fast speeds to low fees and even lower energy usage. Its userbase has surged in recent years and, as a result, so has the value of XRP.
Whether it’s crypto users seeking a safe, fast, and cost-effective way of sending funds around the world or a savvy investor seeking a long-term return on investment, there is no shortage of traders buying XRP. But there is an equal number on the sidelines curious about whether to buy it and how.
If you’re one of these curious prospective investors, then you’re in the right place. This Ripple price prediction will draw on a range of tools to find out whether this innovative asset can be a worthy investment. We’ll also share the easiest way to obtain it, whether you’re a beginner or a veteran trader.
What is Ripple (XRP)?
Launched in 2012, Ripple came along not long after Bitcoin as one of the oldest cryptocurrencies. Like Ethereum, the term Ripple is often used to describe both the payment network and the native XRP token that runs on it.
Similar to the likes of Litecoin, Ripple was founded with a mission to address persisting issues with the Bitcoin Network. In particular, Ripple focused on the decentralization of BTC.
To remove the often tedious and expensive method of going through a centralized finance body, they decided to form a payment platform that allowed users to make transactions without them. However, they also provided value to these centralized financial institutions themselves.
The founders of Ripple were well aware that Many global businesses make hundreds of transactions a day. But international transactions can often be the slowest and with higher transaction fees when compared to domestic payments.
By equally providing cross-border payment solutions for financial institutions alongside decentralized payment services for crypto users, Ripple achieved a highly sought-after status amongst different userbases.
Over the years, Ripple has subsequently secured an impressive portfolio of high-profile investors. From the likes of Santander to American Express, there is a wealth of institutional investors seeking to take advantage of Ripple’s advantages, such as low transaction fees and favorable exchange rates.
Overall, Ripple’s real-world value combined with its ever-growing userbase and major investors has significantly impacted its value. Over the years, the price of XRP has surged to incredible highs. And many experts believe it has the potential to surpass previous highs.
Ripple summed up in three simple points:
- Ripple is the company that is behind the cryptocurrency of XRP.
- When compared to the often slow and expensive Bitcoin transactions, XRP transaction can take mere seconds with small costs too.
- Due to its innovative digital payment technilogy and protocol, the Ripple network is used by a range of major financial institutions.
Pros and cons of Ripple
It may be one of the most well-established cryptocurrencies around, but that’s not to say there aren’t flaws associated with the various pros of Ripple and the native XRP cryptocurrency. Let’s look at them a little closer.
|✔️ It’s one of the most well-established and extensive cryptocurrencies on earth with a market cap of $50 billion.||❌ It lacks the scarcity aspect of Bitcoin as all XRP coins are pre-mined and already in circulation.|
|✔️ It successfully speeds up the flow of capital worldwide, which positively affects economies.|
|✔️ It can solve issues for major financial institutions, and many have since become partners with Ripple.|
FAQ about Ripple
Ripple is one of the biggest cryptocurrencies around. As a result, several questions often crop up about the Ripple payment network and its native XRP token. Let’s answer some of the most commonly asked questions.
What was the all time high of Ripple?
Ripple hit its all-time high on 7 January 2018, when the XRP price reached 3.84 USD per coin. Over the long term, many crypto experts expect that Ripple (XRP) can surpass this figure.
Can Ripple reach $10 per token?
As with many things in the cryptocurrency sphere, anything is possible. While it’s impossible to say if XRP can reach $10 per token, its previous price surges have shown that it has the potential to reach incredible highs. If it does, it would undoubtedly be over the long term.
Can XRP be mined?
No, XRP cannot be mined. The U.S. Ripple Enterprise carries out the mining process. It misses much of the common criticisms held by financial institutions towards cryptocurrencies as a central authority regulates it. In contrast, the likes of Bitcoin are not.
Is Ripple going to be the next Bitcoin?
No. BTC is A highly speculative asset, while XRP is a payment platform. Also, you can still mine BTC, XRP has created up to 100 billion coins, and no one can mine it but the developer only.
As one of the oldest cryptocurrencies around, XRP has undoubtedly had quite the journey when it comes to its price history. To get an idea of XRP’s potential, we only need to look at its price performance in 2021 alone.
After starting 2021 at $0.21, the price of XRP was slightly bearish throughout January. In February, it more than doubled in price to $0.49. For those who cashed out, the rewards were fruitful. But for those who held on, the ultimate prize was coming.
By mid-April, the XRP price had surged to $1.83. Naturally, this caused a price drop as many investors sought to cash out their profits. The price then fell to $0.54. After a slightly bearish period, the price began to rise once again. For those who bought in during the dip, another price surge was coming.
By September, the price had surged to $1.38. This led to another price dip to $0.89 before rising again to $1.28 in November. At the moment, the price is sitting around $0.83. Many predict that this is the perfect chance for new investors to get on board in preparation for another incoming price surge. But let’s see what technical analysis says.
In 2021 alone, the price of Ripple surged by 279%. In the coming years, it is only expected to perform equally and in previous years. For example, technical analysis tells us it could rise by over 150% on the current $1.74 and enter 2023 at $2.87.
After entering 2023 at an impressive high of $2.87, Ripple is expected to rise even further and enter 2024 at somewhere around $4.15. Overall, that’s a severe increase of 262% from the current price.
After starting 2024 at $4.15, Ripple is expected to drop to $3.84 in the middle of the year. The second half of 2024 is expected to see the price of Ripple end the year at a slightly higher price than the first half of 2024 at $3.99. The price might have dropped, but for those who invested in 2022, that’s still an overall annual increase of 248%.
Ripple has been around for a while. As a result, it has undoubtedly become a firm fixture on the radar of many cryptocurrency experts. In this section, we’ll draw upon some of the most well-respected crypto analysts on Youtube to get an idea of what Ripple’s future might look like.
The well-established Youtube Channel called Crypto Diary gets considerable views each month. Its Ripple price prediction is no exception. Their video covered how much 1,000 XRP will be worth by 2025. Their prediction? They estimated a profit of around 315%.
This month, Joe Parys is one of the most well-respected crypto Youtubers on the scene. He recently released an informative XRP price prediction that drew upon a range of factors to explore the possibility of XRP reaching the milestone of $10 per token over the long term.
Another cryptocurrency channel with a cult following is Rich Club. Based on recent updates surrounding Ripple, such as Mastercard accepting it as a viable form of currency, they predicted that XRP could indeed hit the incredible milestone of $10.
In summary, Ripple and its native token of XRP have well and truly established themselves as a serious player amongst the most prominent cryptocurrencies on earth. There is no doubt that it’s here to stay, and its thriving community is making sure of that.
In contrast to other major cryptocurrencies like BTC and ETH, Ripple boasts lightning-fast speeds, low fees, and low energy usage. All of which are attractive advantages for everyday investors and institutional investors alike.
Over the past few years, Ripple has secured major investors ranging from Santander to American Express. As a result, its value has increased significantly. When it comes to its future, both technical analysis and expert opinions align to predict a potentially bright future for those who invest early enough.
Where to buy Ripple XRP?
Ripple’s price history and price forecast have naturally attracted the attention of prospective investors seeking the easiest way to get hold of it. The reality is that getting hold of it has never been easier, thanks to a handful of reputable brokers.
One of the most renowned crypto brokers is eToro. Offering an array of unique features from copy trading to stop-limit orders, it provides a phenomenal crypto trading environment for beginners. Here, potential investors don’t need in-depth cryptocurrency exchanges to buy the likes of Ripple.
As well as major cryptocurrencies like Dogecoin and Bitcoin, eToro is constantly expanding the range of crypto offered. From Ethereum to Binance Coin, this reputable brokerage has many digital assets on offer. At the same time allowing you to diversify your crypto portfolio tremendously.
This Ripple price prediction is for informational purposes only, not financial advice or investment advice. XRP and other digital currencies have potential rewards and cryptocurrency market risks. Despite the positive outlook, the predicted price analysis of Ripple on the crypto market and is not guaranteed to be a profitable investment option as a bearish trend is just as likely as a bullish trend when it comes to the price of XRP its market cap. Anyone wishing to invest should do their research and seek independent financial advice.