Ripple (XRP) Price Analysis: Will Ripple Rise Like The Phoenix?
Ripple (XRP) is an open-source blockchain based digital currency enabling cross border payments. Ripple does three forms of money transfers through its network, using xCurrent, xRapid and xVia. It is both a platform and a currency. Banks and other payment networks have adopted it as a settlement system.
Ripple’s market price as on May 2, 2019, at 11:34:00 UTC is 0.303837 USD. Price was down by -1.32% from last closing price. Currently, the market cap for Ripple is around USD 12.76 billion, 24h volume is at USD 0.85 billion and ROI is at 5071.74 %. Ripple is currently ranked number three in the cryptocurrency market. 52 Week High/Low was 0.927695 USD / 0.253983 USD. As on April 2, 2019, at 12:04:00 UTC, the price was 0.329038 USD. There has been a downward price swing this month over the last month to the extent of -7.66%. The price has been showing a consistent pattern over the last one month.
Analysts’ 2019 Ripple Prediction:
According to analysts, though Ripple has struggled from the start of 2019 and has a bearish outlook for the medium term, it still has great future potential and is going to be used for international transactions worldwide on a very large scale in the years to come. They call it the cryptocurrency with the highest growth potential. The potential of the remittance payments markets is very big and still untapped. Many big names in finance are moving toward using Ripple platform as a payments system. This is a great opportunity for Ripple and it can establish itself as a big gross real time remittance platform internationally. Institutional investors are also looking at Ripple with interest. Ripple as a company is seeing an exponential growth and its cryptocurrency has also been growing very fast. It has already made several strategic partnerships and is in for more such deals. The platform’s features include being user friendly and cost-efficient, faster international transactions, very secure environment and better technology compared to its peers. Ripple’s XRP coin helps in solving real-world problems and saving money, the customer base is every-expanding. Ripple has plans of being converged into one stack, this will definitely work wonders for this widely-used platform.
Analysts feel that the current price might be the right price for investors to invest and hold the coin. The coin looks stronger at times of volatility compared to other crypto coins. New partnerships and new technologies will help surge its price to a new level. Ripple’s long-term prospects look very good.