Ripple Price Prediction: Will Ripple Reach In 2020?

Posted by John Kammy on December 16th, 2020

What Is Ripple?

Ripple was first released in 2012, and similar to Ethereum, it is widely used to describe both its payment network and its native currency. In fact, its network is called RippleNet, while Ripple XRP is its cryptocurrency.

Ryan Fugger first expressed the concept behind the Ripple payment network in 2004, but it was not until Jed McCaleb and Chris Larson took over the project in 2012 that Ripple started to be created.

Ripple (XRP) is the currency that runs on RippleNet, a digital payment network, which is on top of the XRP Ledger distributed database. The XRP Ledger is open source and is not based on a blockchain, but rather on the distributed ledger database.

Today’s XRP price is USD --content--.236500 with a 24-hour trading value of USD ,083,272,646. In the last 24 hours, XRP is up by 2.09 %. 

With a market cap of ,709,827,494 USD, the latest CoinMarketCap rating is # 4. The circulating supply of XRP coins is 45,284,665,028.

Ripple Technical Analysis

The coin entered the market at a cost of --content--.0058, the price for many years kept the same. In March-April 2017, the first price jump occurred. The coin soared to --content--.03 within a few months. The growth was rapidly followed by a further market pump in May to --content--.2.

The explanation for such a quick uptake was the news that Ripple’s network joined the Bank of Tokyo-Mitsubishi. The Bank of Tokyo is the third-largest bank in the entire world.

The XRP price, with some pumps here and there, fluctuated between --content--.18 and --content--.3 throughout 2017. The new XRP ‘rally’ began with BTC‘s growth in December 2017. Bitcoin and cryptocurrency markets witnessed a positive trend with huge price growth at that period. As a result, the crypto-currency hit per coin and over in January 2018.

In February, the coin fell to --content--.07 and re-pumped to per XRP. The currency kept its price position for one month and then continued to decline. It got to --content--.5 again in April due to Bitcoin which managed to overcome the 00 mark. Most cryptocurrencies imitate the flow of bitcoin, which is popular in this industry, and Ripple is no exception. The coin then began to decline steadily and hit --content--.26.

In September, Ripple announced the release of xRapid, a forum for payment services and financial institutions. XRP quotes began to climb in the midst of the announcement and the asset even managed to briefly shift Ethereum from the second position on the Coinmarketcap list at some point, showing more than 100 % growth.

The digital coin traded between --content--.5 and --content--.39 until November and then plummeted to --content--.28 in December 2018. The XRP average was rough --content--.3 for almost half a year. The demand began to rebound in April 2019 and the coin soared to 0.4-0.45 USD in May.

XRP Price Prediction 2021

Blockchain standards are predicted to grow by 2021, according to the new report by Moody’s. Ripple is the third-largest cryptocurrency, and by 2021 it is looking for a lot of advancements. 

As per the XRP price patterns, analysts expect that endless collaborations will be entered into with financial institutions. By 2021, the mark could be touched by XRP.

XRP 5 Years Price Prediction

In the next 5 years, XRP may progress to record prices within the - vicinity. However, the most workable idea is to expect a midpoint. As adoption matures, users will be able to buy ripple in the most affordable and convenient way. By 2025, it is feasible that XRP prices may reach as high as possible.