Ripple (XRP) Price Analysis : Ripple Is On The Verge To Break $0.80 Mark In The Next Few Weeks
XRP is the third cryptocurrency after Bitcoin and Ethereum in terms of its market cap. Originally incepted in 2012, Ripple was a subsequent repetition of Ripplepay. Ripple is referred to as a real-time gross settlement system (RTGS), a remittance network and currency exchange. It uses a common ledger in its network that validates servers independently. It does not rely on the energy and computing intensive proof of work that applies to bitcoin. It is a shared public database that uses a consensus process by validating servers for ensuring integrity.
Current status of Ripple (XRP)
Ripple is currently getting traded at USD 0.314374 (UTC time 05:39). It is in the 3rd position in the present cryptocurrency market. Its current market cap has a value worth of USD 13,025,185,017. At present, 41,432,141,931 XRP are available to trade in the crypto exchanges. Compared to its yesterday’s price, a value of XRP has been decreased by -1.27%, and it is currently following a bearish trend.
Price analysis of XRP on the basis of XRP charts
On the basis of the above chart, it is seen that the current price of XRP is 0.314050 USD or 0.00008024 BTC (UTC time 05:43). Its present market cap is getting traded at 13,011,766,080 USD with 683,364,592 USD as its 24h volume. From the same chart, it is evident that one month back XRP was traded at 0.303438 USD. So, within this one month, the value of XRP has been hiked by 3.49% with 0.303555 USD as a good support resistance.
Future price predictions of XRP
From a fundamental perspective, XRP has emerged as one of the exciting competitors in the cryptocurrency market. Ripple’s users are growing daily; many financial institutions and banks use its protocol for transferring money from one part of the world to another. It is still an undervalued cryptocurrency, but with its on growing community, it is expected that soon it will be able to grow its market cap and worth.
Keeping all these factors in mind, predictors suggested that by the end of this year, it can reach $3-$5 and this is the reason why it can be a good investment opportunity this year. In 2020, it is expected that Ripple can be around $1.40-1.50. At this point, analysts suggested that purchasing XRP coins can be beneficial for two years long investment. Other experts said that it could even reach $20 by the end of 2020 if there is mass adoption of this cryptocurrency all over the world. Wall Investor predicted that it can be around $2.00 after five years from now.
Summing up
Ripple is a good short term and long term investment, and it is evident from the above price predictions. Its upcoming price ranges are expected to be on a bullish trend which indicates positive signs to the investors who are looking to have good returns from a crypto investment.
