Price Analysis

Ripple (XRP) Price Analysis : Can Ripple Touch $1.20 by the End of 2019?

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RippleNet is a network of institutional payment providers like financial organizations and banks that use solutions formulated by Ripple to have a hassle-free experience when sending money globally. Ripple is both a currency and a platform which relies on open source protocols and is meant for faster and cheaper transactions. This platform enables the user to make payments in any currency including both a digital currency and fiat currency. XRP is the digital token of Ripple Network that represents the transfer the value across the Ripple Network. It acts as a mediator for both digital and fiat currencies.

Current status of XRP

At present, XRP is getting traded at USD 0.311252 (UTC time 08:35). In respect to its market cap, it is the third largest cryptocurrency with USD 12,895,856,543 market cap. It has a circulating supply of 41,432,141,931 XRP at present. Compared to its yesterday’s price, the value of XRP has been reduced by -0.24%. It is currently following a bearish trend.

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Price analysis of XRP on the basis of XRP charts

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On the basis of the above chart, it is evident that the current value of XRP is 0.311066 USD or 0.00007920 BTC (UTC time 08:38). Its present market cap is getting traded at $12,888,150,055 USD. Its 24h volume has a trading value of 624,067,418 USD. The same chart shows that the trading value of XRP nearly one month back was 0.304081 USD. Considering these two price points, it is cleared that the value of XRP has been on a bullish trend by 2.29% with its early price point of $0.305059 as a good support resistance.

Future price predictions of XRP

Majority crypto analysts have predicted that XRP will experience a stable bull trend in 2019. According to the assumption of Investing Haven, 2019 is going to be a flawless year for XRP, and it can reach as high as $20 by the end of this year. By 2022, it is susceptible to reach $22.79. Taking all these considerations, we think that XRP can be trading at approx. $1.20 to $2 by the end of this year and XRP can be a good option for both short term and long term investment.

Conclusion

XRP is making steady progress. With more number of investors in the upcoming days, it is expected that its value will also elevate. Moreover, its prices will mostly be on a bullish trend in the upcoming days. So, definitely, XRP is a good option for both long and short term investments.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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