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Price Analysis

Ripple (XRP) Makes Cross Border Transactions Cakewalk; Looks Bullish in the Coming Quarters

Ripple (XRP) is the digital asset with one of the fastest transaction systems and the most efficient option for interbank operations. Incepted in 2012, the decentralized open source peer-to-peer platform is based on consensus protocol & now being relied upon by major banks, exchanges and financial institutes around the globe. Through xRapid, a payment processor within Ripple, transaction time has been reduced, and on-demand liquidity, (through RippleNet) option has been made available. The demand curve has been rising significantly for the crypto, and it is gaining acceptance from some of the marquee clients in the world looking to expand their operations in newer markets.

Current Statistics

Ripple Price Chart (25.03.2019 - 22.04.2019)As on April 22, 2019 at 08:19:00 UTC, the ROI stands at 5,355.78%, the circulating supply has been noted at 41,970,748,057 XRP against total supply of 99,991,649,568 XRP and maximum supply of 100,000,000,000 XRP. With a market cap of USD 13,460,095,425, the crypto has secured 3rd position in the top 100 cryptocurrencies list by the CoinMarketCap and giving competition to Ethereum with a low marginal difference. The price is recorded at USD 0.32 & 0.00006084 BTC. The 24 h volume has reached USD 997,665,805.

Comparison

As on March 25, 2019 at 05:34:00 UTC, the market cap was recorded at $12,893,398,161 USD, the price was trading at $0.31 USD & 0.0000077 BTC. The 24 h volume stood at $647,961,961 USD. The highest price was recorded at USD 0.34 and the lowest at USD 0.31 in the last 7-day period, and a similar pattern was observed in the last 24 hours as well. The uptrend of over 3% is going to surge further in the next quarters. The crypto is getting global acceptance from financial bodies as a safe substitute for cross borders payments, and the XRP looks bullish now to take on Ethereum in the coming days once again.

Prediction

2018 was a tremendous year for Ripple/XRP platform as it inked partnerships with major banks and gained the trust of the experts. In March 2018, Brad Garlinghouse, CEO, announced that the company is adding almost one new bank every week and by the end of the year this number just doubled. Major clientele includes the National Commercial Bank of Saudi Arabia, PNC Bank, and a leading US bank. It is also the only Cryptocurrency on SBI’s virtual currency platform which further plans to back the crypto & make it the top. In September 2018, the crypto was positioned 2nd in the top 100 cryptocurrencies list after beating Ethereum in market capitalization. Ripple has highest untapped potential in the global remittance payments which are expected to rise to around  US$466 billion in 2019 according to the World Bank. All these developments collectively will contribute to an increase in the price, and by the end of 2019, it should reach between USD 1 – 2 USD. Five years down the line and with continued innovations and strategic partnerships, the price of XRP will reach as high as 10 USD to 30 USD.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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