Ripple (XRP) Price Analysis : Ripple’s Buoyant Nature Devours Market
Ripple (XRP) is a technology that works as both- a cryptocurrency and a digital payment network for online financial transactions. Ripple is the 3rd largest bitcoin and acts as a bridge to other currencies because it does not discriminate between the types of currency (Fiat/Crypto). The Ripple platform has its protocol which is based on a shared ledger that uses the consensus process, which makes exchanges in a distributed process. The cryptocurrency is denoted by XRP and has a maximum supply of 100,000,000,000 coins.
XRP traded at 0.302716 USD (04:34 UTC). Based on the coin market cap analysis, the current market cap value is USD 12,625,231,121, which makes XRP the 3rd largest cryptocurrency after Bitcoin and Ethereum. This is also based on the circulating supply of 41,706,564,590 XRP out of a total supply of 99,991,667,586 XRP. Stats from coin market cap details on the current market value being traded at USD 315,712,275 on March 27 at 10:19 UTC for its corresponding 24h volume of $18,691,211. Currently, XRP’s trading price amounts to 0.005693 USD or 0.00000141 BTC. The market opened at USD 14 billion at the beginning of January 2019 and crossed USD 15 billion by the 10th of January. However, the volatility of the cryptocurrency bounces the values within shorter periods. The peak price fell as low as USD 12,002,336,746 reducing by 29.22%. There is no substantial downtrend or uptrend period with this highly volatile cryptocurrency. The market cap reached its highest on February 24 at 09:34 with a trading value of USD 13,975,260,702 and trading price of 0.337847 USD. The current price is lower than its all-time high by 8.23%. Nonetheless, the EMA displays the values dipping from USD 13,083,195,621 on March 07 to the current value by 1.18%. Although degradation is insignificant, the volatility of the market is ruled by the bears pressure. The falling trading price does not offer resistance to the market.
Ripple Coin News predicts that, with the upcoming addition of new technologies and partnerships, the price at which XRP will be traded will surge to 8-10 US Dollars. There is a belief that 2019 will be about reaching a milestone for Ripple with the influx in projects. Ripple is expected to emerge as a top currency, above all the other cryptocurrency in the future. However, this can be obtained only if the volatility of the crypto-coin ceases early. UsLifed’s technical analysis reports anticipate XRP to reach newer heights with the trading value increasing to $22.79 with a circulating supply of 38,739,145,924 XRP by 2020. Coin switch expects the price of XRP to raise over 1.20 USD by the end of 2019 and would provide tough competitions to many other digital currencies. Five years down the lane, 1 unit of Ripple might equal 4.52 USD.
The future predictions of the ripple coin will work out advantageous if the new additions to the cryptocurrency subside its volatility. Currently, the market is not in favor of investors with long term plans. The bearish pressure pulls down the market trend. However, there are chances of improvisation for XRP, if the traders – short term investor took advantage of the fluctuating market. Their contributions to the digital currency will increase the value and bring about stability for the complete market.
