Introduction
Developed by Ripple Labs Inc., Ripple is a real-time gross settlement system and a form of currency exchange. Ripple is made on a distributed open-source protocol that represents tokens like cryptocurrencies, fiat currencies, and other units like frequent flier miles, free minutes, etc.
Note: Even though Ripple Labs Inc. has developed the platform, but the original authors for Ripple and XRP were Arthur Britto, David Schwartz, and Ryan Fugger.
The native cryptocurrency of Ripple is XRP, and several banks and payment networks have adopted it as a settlement infrastructure technology. It relies on a standard shared ledger that stores information about all the Ripple accounts. Payments done using Ripple are irreversible, and there are no chargebacks.
Ripple has been making it to the headlines with its price fluctuations and recent share purchase of big firms. Recently, Ripple decided to buy MoneyGram shares worth $30 million at $4.10 per share, and they plan to buy more shares worth $20 million in the next two years. This purchase helped them become an exclusive partner for MoneyGram, which gave them access to making cross-border payments in the coming years.
Note: Ripple cannot be mined as the company has pre-mined 100 billion tokens, and out of these, 38 billion are out in circulation.
Currently, XRP is trading at $0.2885, with support levels present at $0.2840, and the digital currency is facing strong resistance at $0.2930. In the last 24 hours, XRP has lost 2.32% value as it sits in the 3rd place in the crypto market cap charts. XRP has a market cap of $12,540,900,971. The market for XRP is facing a bullish trend with a slight downward correction.
What is Ripple (XRP)?
Ripple is a type of system of real-time gross settlement that was launched in 2012 and used a distributed open-source protocol as its building block. XRP is the native cryptocurrency of the ledger, and it relies on a commonly shared ledger to store the data of the user accounts.
Advantages of Ripple are:
- The transfer charges are almost 0 as a minimal amount is used from a Ripple unit for security reasons with every transaction
- Ripple supports all forms of payments, including cryptocurrencies like Bitcoin. So, Ripple can be converted to any currency.
- The payment speed is lightning fast as compared to Ethereum and Bitcoin.
Ripple history
Ripple was invented by Jed McCaleb and built by Arthur Britto and David Schwartz, who then hired Ryan Fugger, who had debuted in 2005 as a financial service to provide secure payment options to members of an online community via a global network. Fugger had developed a payment system called OpenCoin, which was later transformed into Ripple. Ripple was released in 2012.
Is XRP a security?
The debate over Ripple’s cryptocurrency XRP has been loud over the past few months. The Ripple’s CEO Brad Garlinghouse and other officials from the company have repeatedly claimed that XRP is not a security. Recently, the chairman of CFTC said that he is not sure whether Ripple’s XRP is a security or a commodity. Ripple is also facing a class-action lawsuit in which investors have claimed that Ripple sold them unregistered securities.
XRP market Data
XRP is the third-largest cryptocurrency in terms of market capitalization. It dominates 4.27% of the cryptocurrency market, with the current market cap of nearly 11 billion US dollars. At the time of writing, the price of the XRP is $0.249063, with a 24-hour trading value of $1,957,610,677.
Note: XRP has a circulating supply of 44 billion coins and a max supply of 100 billion coins.
Ripple price predictions by people and organizations from crypto industry:
1. Ripple Coin News
Ripple Coin News is among the bullish predictors, and it stated that in the coming years, the price for 1 unit might reach $8-$10 dollars. For a trade price that hadn’t crossed $2 even when the market was booming, this prediction shows the high expectation of people from the token.
2. Investing Haven
Investing Haven is a crypto prediction platform that made a prediction that makes an ‘optimistic approach’ sound like an understatement. The website has predicted that the price will reach as high as $20 by 2020.
3. Oracle Times
Oracle Times has predicted that the price will surge as much as 2000% in the coming years as it can become the best method for cross border payments. The cross border transactions account to have a value of around $9.8 trillion.
4. Roman Guelfi
Roman Guelfi, a well-known crypto expert and enthusiast, and he has predicted that the price will achieve significant milestones as he thinks that soon, only the significant cryptos will take control. With more and more crypto projects entering the market, the expert believes that people will move back to the old and trusted ones.
5. UsLifted
Another crypto prediction website, UsLifted, believes that by 2020, XRP would reach the price level of $20 as the volume will increase. They think that people will shift to XRP, and soon, it will dominate the crypto market cap market as well.
6. WalletInvestor
By far, WalletInvestor has come forward with a much realistic Ripple Price prediction for 2020 with setting up a price as high as $0.50. They believe that the coin will reach beyond $1-$2, but it will be a long journey.
Coinnounce’s Ripple XRP Price Prediction
Ripple is known across the globe for its payment platform called RippleNet, which provides the ease of bank-to-bank payment system where cross-border payments take place. The processing time of these payments is very less in comparison with traditional methods.
A series of events are in line for Ripple, like institutional money will be flowing to XRP token. If these changes continue to take place in the Ripple community, and the platform continues with its steady growth, XRP can surge upwards. The chances of XRP touching the $1 mark by early 2020 will be possible. This upward trend can further continue for the rest of the year.
Ripple Price Prediction 2020
XRP is performing better than the rest of the cryptocurrencies as the year is coming to an end. Currently trading at $0.2911, XRP is slowly moving upwards, and it can be said that the price will go towards a $1 mark.
If 2019 ends with a bearish trend, then we can expect the price to decline, and this can take XRP to hit the price levels of $0.20 and drop further.
Note: XRP has been criticized and questioned several times by the media, and at times like these, Ripple Inc has maintained a distance from these saying that XRP is not a part of their platform.
Ripple Price Prediction 2025
If the bullish-bearish relation in XRP continues with a stable rate and equal distribution can help the price to maintain a steady trend towards the upper ranges. The charts show strong bullish push, and if these continue, then in 2025, we can expect the price to head towards the $4 and $5 levels.
In case the crypto industry gets attacked by the regulatory bodies and governments, we can lose the value and the currencies, including XRP. Governments have opposed the use of cryptocurrencies as it threatens the monetary value of central currencies.
Note: XRP has pre-mined XRP token, which is around 100 billion, and about 50 billion have been released for market use while the rest are in XRP’s custody.
Ripple Price Prediction 2030
If things go well for the crypto industry, we can expect a bright future for all the cryptocurrencies along with XRP. XRP is growing, and by 2030, XRP can witness a flight towards the price level of $17-$20.
However, if the situations are different and the crypto market faces a backlash from the government, we can expect the price to fall below $1. In the worst-case scenario, the market can even reach the point of no trading or shutting down.
Note: Ripple faced backlash from the community in the past as they have decided to dump 1 billion tokens in the market every month. This dumping of coins in the market was considered as the reason behind a low price by many traders.
Ripple Price Prediction 2018
2017 ended on a surprising note for XRP as the token that was trading between $0.1500 and $0.4000 saw a surge in its price in a few days. In December 2017, XRP was trading at an ATH of $1.9751, and it was predicted that price would go beyond $2 and reach $5-$6 levels.
However, things changed when, just like every cryptocurrency, XRP also faced a slow decline in 2018, and the price declined to $0.3661. Since then, XRP is trying to gain a significant bullish trend.
Note: In 2018, Ripple reached the second position in the world of cryptocurrency based on its market capitalization.
Frequently Asked Questions (FAQ)
1. What is the market ranking of Ripple?
Currently, Ripple is in third place in the top 10 cryptocurrencies based on its market cap. XRP has a market cap of $12,604,361,416.
2. Is XRP mining possible?
XRP cannot be mined as the token has already been pre-mined to a value of 100 billion tokens.
3. Will XRP ever reach 100 USD?
$100 price in a few months is a dream we can’t expect XRP to fulfill, but depending on the crypto market volatility, we can expect the token to achieve this target in a few years.
4. Is XRP a good investment?
In the past few months, we have seen that XRP is performing better than other cryptocurrencies, and with the fast transaction timings, Ripple is slowly gaining popularity. More people are moving towards altcoins and tokens.
5. Price of XRP in 2020?
If the current bullish trend continues, we can expect the price to reach $1 and beyond in 2020.
6. What is the difference between XRP and Bitcoin?
The most significant difference between XRP and Bitcoin is the time taken during transactions.
7. Why is XRP price going down?
Cryptocurrencies are volatile, which causes frequent changes in their prices. Therefore it’s their nature to increase and decrease.
8. What is XRP’s future in the crypto market?
XRP stands in the top 3 cryptocurrencies in the world, and with its steady growth trends and fast transaction services, it seems like XRP has a promising future.
9. Does XRP have a halving process?
No, XRP does not have a halving process since all the token is pre-mined, and only the generator of XRP can release them.
10. How many Ripple coins are there?
Ripple created 100 billion XRP tokens out, of which 38 billion are out for circulation with up to 1 billion coins releasing every month.
Conclusion
Ripple has proved its worth several times in the market by performing better than its competitors, providing a slightly safer market for traders and investors. In the coming years, Ripple can hold a good position in the market and can even aim for the 2nd and 1st place again.
