Ripple (XRP) Price Analysis: Partnering with Financial Giants May Help in Gaining 2nd Rank in Crypto Market

Ripple (XRP) was launched back in 2012. Once known as ‘open coin,’ Ripple is the only regulated cryptocurrency. This unique feature of Ripple (XRP) has enabled it to partner with traditional financial institutions which ultimately resulted in real-time financial transactions at a very low cost. The fast and cheap transaction is the USP of Ripple. When it comes to international transactions, cross-border payments can take days or even weeks to authenticate and acknowledge, which ultimately results in an increased fee. Sometime it may sum up to trillions if calculated annually. Interestingly, XRP token-based payments have the potential to cut those costs by up to 60%. Transaction speed is an area where Ripple (XRP) stands out leaving other cryptocurrencies miles behind with an average turnaround time of 3 seconds only.

Ripple chartCurrently, ranked at 3rd place in cryptocurrency ranking, Ripple (XRP) is trading at USD 0.322748 on April 17 at UTC 10:24. With a total of 41,970,748,057 XRP chips in circulation, its market cap is $13,545,985,082 USD at the same time. The present value of a Ripple (XRP) is 0.00006207 in BTC. Let’s have a look into the change in its value over a month. On March 23, Ripple (XRP) was trading at $ 0.312359, and over a period of 25-days, it gained momentum, and at present, it is trading at $0.322748 with a hike of 3.32%.

Few important statistics related to Ripple (XRP), which might help you in trading:

  • Yesterday’s High / Low                          0.327308 USD / 0.319261 USD
  • Yesterday’s Open / Close                       0.320998 USD / 0.327218 USD
  • Yesterday’s Change                                +0.006220 USD (+1.94%)
  • Yesterday’s Volume                                799,796,781 USD
  • All-Time High                                          3.84 USD (Jan 04, 2018)
  • All Time Low                                            0.002802 USD (Jul 07, 2014)

Future Prediction:

In order to promote and bring it to the mainstream financial market, Ripple (XRP) owners have been actively partnering with over 150 banks internationally in the last five years. These strategic ties are aimed at enabling Ripple to carry out instant or near-instant transactions available at very low cost. The major partner of Ripple (XRP) includes big financial giants like American Express, Bank of America, RBC, Santander, and most recently, J.P. Morgan. In addition to that Ripple regularly releases new enterprise services for its clients. Few notable ones are:

  • xCurrent: Integrates XRP with global payment processing for banks
  • xRapid: Offers payment processors on-demand liquidity using XRP
  • xVia: Allows the business to send payments using XRP across the Ripple network (RippleNet)

According to future predictions for XRP, Ripple (XRP) may touch a mark of $0.65 till December this year and moreover, may jump up to the mark of $7.5 till the end of 2020.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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