Developed by Ripple Labs Inc., Ripple is a real-time gross settlement system and form of currency exchange. Ripple is created on top of a distributed open source protocol that represents tokens such as cryptocurrencies, fiat currencies, and other units such as frequent flyer miles, free minutes, etc.
Note: Although Ripple Labs Inc. developed the platform, the original authors for Ripple and XRP were Arthur Britto, David Schwartz, and Ryan Fugger.
Ripple’s native cryptocurrency is XRP, and several banks and payment networks have adopted it as an accounting infrastructure technology. It is based on a common standard ledger that stores information about all Ripple accounts. Payments with Ripple are irreversible, and there are no chargebacks.
Ripple has made headlines with its price volatility and recent large company stock purchases. Ripple recently decided to buy MoneyGram $ 30 million shares at $ 4.10 per share, and they plan to buy $ 20 million more shares over the next two years. That purchase helped them become an exclusive partner for MoneyGram, which would give them access to cross-border payments in the years to come.
Note: Ripple cannot be mined like the company did pre-minted 100 billion tokens, of which 38 billion are in circulation.
Currently, XRP is trading at $ 0.2885 with support levels at $ 0.2840, and the digital currency is facing strong resistance at $ 0.2930. In the past 24 hours, XRP has lost 2.32% in value as it ranks 3rd on the crypto market capitalization 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 real-time gross settlement system introduced in 2012 that uses a distributed open source protocol as a building block. XRP is the ledger’s native cryptocurrency and is based on a shared ledger to store user account data.
Advantages of Ripple are:
- The transfer fees are almost 0 as a minimum amount of one Ripple unit is used on every transaction for security reasons
- Ripple supports all forms of payment, including cryptocurrencies like Bitcoin. Ripple can therefore be converted into any currency.
- Payment speed is lightning fast compared to Ethereum and Bitcoin.
Ripple was invented by Jed McCaleb and built by Arthur Britto and David Schwartz, who then hired Ryan Fugger, who debuted as a financial services company in 2005, to offer members of an online community secure payment options over a global network. Fugger had developed a payment system called OpenCoin, which was later converted into Ripple. Ripple was released in 2012.
Is XRP a security?
The debate about Ripple’s cryptocurrency XRP has been loud in recent months. Ripple CEO Brad Garlinghouse and other company officials have repeatedly claimed that XRP is not a security. Recently, the chairman of the CFTC said he was unsure whether Ripple’s XRP was a security or a commodity. Ripple is also facing a class action lawsuit in which investors alleged 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 a current market cap of nearly $ 11 billion. 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 44 billion coins in circulation and a maximum number of 100 billion coins.
Ripple price predictions from people and organizations in the crypto industry:
1. Ripple Coin News
Ripple Coin News is among the most bullish predictors and it has been found that the price for 1 unit could reach $ 8- $ 10 dollars. For a trading price that did not exceed $ 2 even during the market boom, this forecast shows the high expectations people have of the tokens.
2. Investment paradise
Investing Haven is a crypto prediction platform that has made a prediction that makes an “optimistic approach” sound like an understatement. The website predicted that the price will reach up to $ 20 by 2020.
3. Oracle times
Oracle Times predicted that the price will go up up to 2000% in the years to come as it may become the best method for making cross-border payments. The cross-border transactions are valued at around $ 9.8 trillion.
4. Roman Guelfi
Roman Guelfi, a well-known crypto expert and enthusiast, and he has predicted the price will hit significant milestones as he believes that soon only the major cryptos will take control. As more and more crypto projects hit the market, the expert believes that people will switch back to the old and trustworthy ones.
Another crypto prediction website, UsLifted, believes that by 2020 XRP would hit the $ 20 price level as the volume increases. They believe people will switch to XRP, and soon it will dominate the crypto market cap market as well.
6. Wallet Investor
By far, WalletInvestor has presented a very realistic Ripple price prediction for 2020 with a price of up to $ 0.50. They believe the coin will go over $ 1 to 2, but it will be a long journey.
Coinnounces Ripple XRP Price Prediction
Ripple is known worldwide for its payment platform called RippleNet, which offers a simple bank-to-bank payment system with cross-border payments. The processing time for these payments is very short compared to conventional methods.
A number of events are ahead for Ripple, such as institutional money will flow into XRP tokens. If these changes continue to happen in the Ripple community and the platform continues its steady growth, XRP can skyrocket. The chances of XRP hitting the $ 1 mark by early 2020 are possible. This upward trend can continue for the rest of the year.
Ripple price prediction 2020
XRP is doing better than the rest of the cryptocurrencies towards the end of the year. Currently trading at $ 0.2911, XRP is slowly moving up and it can be said that the price will move towards the $ 1 mark.
If 2019 ends in a bearish trend, we can expect the price to decline, and this may cause XRP to hit the $ 0.20 price level and continue to decline.
Note: XRP has been criticized and questioned by the media several times, and at times like this, Ripple Inc has distanced itself from these, saying that XRP is not part of their platform.
Ripple Price Prediction 2025
If the bullish-bearish relationship in XRP continues with a stable price and an even distribution, the price can help maintain a steady trend towards the upper ranges. The charts are showing a strong uptrend and if this continues we can expect the price to move towards the $ 4 and $ 5 levels in 2025.
If the crypto industry is attacked by regulators and governments, we can lose value and currencies, including XRP. Governments have spoken out against the use of cryptocurrencies as they endanger the monetary value of the central currencies.
Note: XRP has pre-mined XRP tokens worth around 100 billion, and around 50 billion have been released for market use, while the rest is in XRP’s custody.
Ripple Price Prediction 2030
If things go well for the crypto industry, we can expect a bright future for all cryptocurrencies along with XRP. XRP is growing and by 2030 XRP can experience a flight towards the $ 17-20 price level.
However, if the situations are different and the crypto market is facing a backlash from the government, we can expect the price to drop below $ 1. In the worst case scenario, the market can even reach the point where no trade takes place or is closed.
Note: Ripple has faced backlash from the community in the past as they decided to launch 1 billion tokens every month. This dumping of coins in the market has been seen by many traders as the reason for the low price.
Ripple Price Prediction 2018
2017 ended by surprise for XRP as the token, which traded between $ 0.1500 and $ 0.4000, saw its price soar in just a few days. In December 2017, XRP was trading at an ATH of $ 1.9751, and it was predicted that the price would go above $ 2 and hit a level of $ 5 to $ 6.
However, things changed when, like any cryptocurrency, XRP saw a slow decline in 2018 and the price fell to $ 0.3661. Since then, XRP has been trying to make a significant upward 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 Ripple’s market ranking?
Ripple currently ranks third in the top 10 cryptocurrencies based on its market capitalization. XRP has a market cap of $ 12,604,361,416.
2. Is XRP mining possible?
XRP cannot be mined because the token has already been pre-mined to a value of 100 billion tokens.
3. Will XRP ever reach $ 100?
The price of USD 100 in a few months is a dream that we cannot expect XRP to come true, but depending on the volatility of the crypto market, we can expect the token to achieve this goal in a few years.
4. Is XRP a good investment?
In the past few months, we’ve seen XRP outperform other cryptocurrencies, and with the fast transaction timings, Ripple is slowly gaining popularity. More and more people are moving towards altcoins and tokens.
5th price of XRP in 2020?
If the current upward trend continues, we can assume that the price will reach USD 1 and more in 2020.
6. What is the difference between XRP and Bitcoin?
The main difference between XRP and Bitcoin is the time it takes during transactions.
7. Why is the XRP price dropping?
Cryptocurrencies are volatile, which leads to frequent price changes. Hence, it is in their nature to increase and decrease.
8. What does the future of XRP look like in the crypto market?
XRP is among the top 3 cryptocurrencies in the world and with its steady growth trends and fast transaction services, XRP looks to have a bright future.
9. Does XRP have a halving process?
No, XRP does not have a halving process as all tokens are pre-mined and only the XRP generator can release them.
10. How many Ripple Coins are there?
Ripple has created 100 billion XRP tokens, 38 billion of which are in circulation, with up to 1 billion coins being released every month.
Ripple has proven itself multiple times in the market by outperforming its competitors and providing a slightly safer market for Traders and investors. In the coming years, Ripple can maintain a good position in the market and even aim for 2nd and 1st place again.
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