Price Analysis

Ripple (XRP) Price Analysis: Ripple Will Be Steady to Steep High this Year

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Ripple (XRP) is one of the top 10 altcoins in the crypto sphere. Ripple is one of the most promising cryptocurrency platforms that is specifically aimed to bring a revolutionary impact in the financial and banking industry. The underlying technology of Ripple involves a digital payment protocol, developed by Chris Larsen and Jed McCaleb in 2012. It is a decentralized platform for various money transfers including cross border payments. It accepts both fiat and digital currencies during exchanges.

Current status of XRP

XRP is currently getting traded at USD 0.311947 (UTC time 07:01). It is currently running on a bullish trend by 0.93%. With a market cap of $13,010,240,199 USD and a circulating supply of 41,706,564,590 XRP, XRP is the 3rd largest cryptocurrency.

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Price analysis of XRP

RippleThe above chart shows that at present XRP is getting traded at 0.312483 USD or 0.00007568 BTC (UTC time 07:08). Its current market cap has a trading value worth of 13,032,588,934 USD, and its 24h volume is worth of 701,295,376 USD. The same chart shows that approx. One month earlier, XRP had a trading value of 0.320249 USD. So, in this duration, the value of XRP has been reduced by -2.42%.

Future price prediction of Ripple’s XRP

XRP looks stronger than its competitors in spite of this great volatile market. Swift, the biggest competitor of Ripple, has announced its partnership with R3 (enterprise blockchain custodian) on blockchain technology. Recently, R3 made XRP- the first ever digital currency to be available via its Corda Settler Product. Apart from this, Ripple is soon going to emerge in the gaming industry. Several developments have been made on Ripple’s platform, and with the ongoing expansion of DLT, Ripple can soon conquer the attention of major investors and financial institutions. It has also partnered with global ruling financial sectors, and according to the analysts, this is going to bring a positive impact on Ripple’s XRP’s performance.

Taking all the above facts and facets in consideration, Investing Haven assumed that XRP could trade as high as $20 by the end of this year. Their prediction is optimistic in a sense if we consider the advancements that Ripple is making these days. Majority crypto experts from various sources like express.co.uk, fxstreet, and investing believe that XRP is all set to triple its value this year. This implies that XRP can reach around $3-$5 in this year. According to them, XRP can be a good buy at this current moment. It is a great future rich network and considering this point, UsLifted thinks that XRP can trade around $22.79 by 2020.

To be tactful and realistic, we think that XRP can reach around $1.20 by the end of 2019 or it can even reach to $2 within this period.

Conclusion

Ripple is a very promising network, and its XRP is also future rich crypto that is facilitating many financial sectors without any clutches of government and middlemen. Its outstanding partnerships, developments, and features can soon make XRP, one of the most leading crypto and can also maintain its sustenance of good performance.

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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