XRP enters the top 3 cryptocurrencies with the most significant market capitalization and is second only to Bitcoin and Ethereum. It is not crypto in the usual sense, yet it has several features and nuances. Creators offer the world a bold and unusual solution in the financial world.
How can the news and events influence on the XRP price rate? Here are all the questions in our XRP price forecast for 2019, 2020, and 2025.
XRP Coin Fundamental Value
The forerunner of the modern Ripple platform, the RipplePay system, appeared back in 2004. Canadian programmer Ryan Fugger managed to create a decentralized payment platform for a wide range of users. However, the project did not get much success, and Fugger decided to go even further. He changed the existing system of the bank and interbank payments. He wanted it to be decentralized, independent of intermediaries and third parties.
The updated system appeared in 2012 and was called Ripple. The company engaged in the development and maintenance of the platform was named Ripple Labs. Fugger, together with other developers, created a secure decentralized platform for payments between individuals and even legal entities (primarily banking institutions). Besides, the platform launched its cryptocurrency, called Ripple, with the XRP ticker.
There are some XRP exciting facts:
- XRP cannot be mined. Cryptocurrency developers do not provide this option. They mined about 100 billion coins, left themselves 65% of the extracted assets. The remaining 35% were released to the market.
- XRP does not use blockchain technology. Instead, the system runs on so-called gateways through which all transactions pass. Dozens of servers installed in the company’s offices in different countries of the world are responsible for the operation of these gateways.
- The popularity of XRP cryptocurrency is determined by the number of partner banks that use the Ripple payment system. In 2016, the company signed a contract with more than 20 banks, and the price of XRP immediately increased by 200%.
- The low cost of XPR today is defined by a vast number of coins issued. As the number of coins will decrease, the price of XRP will naturally increase.
Ripple’s XRP Market Data
|Curr. Supply / Total Supply||43,166,787,298 XRP / 99,991,330,383 XRP|
|ROI since launch||4,859.70%|
|All-Time High / All-Time Low||$3.84 / $0.002802|
XRP is significantly different from other cryptocurrencies, and its features are the following:
- High speed of transactions (more elevated than in the Bitcoin network);
- The ability to exchange any currency for any other currency or value (for example, gold, stocks or even precious metals) with a minimum commission;
- High level of protection against spam and hacker attacks;
- Impossibility of inflation. All coins are already mined. It is impossible to get new ones, and a hypothetical excess of coins is leveled out by their “burning” when paying a commission;
- Transaction reversibility. Any transaction can be canceled or edited if an error was made.
XRP and Banks
Now for the international money transfers, people use the notorious SWIFT system. It does its job well, but it has two critical flaws. The first is transaction speed. Cross-border payments take 3-5 banking days. The second is high commission costs that arise due to several currency conversion operations for one transaction and processing of paper documents.
The Ripple network protocol, together with the xCurrent application, implement such and even more complex interbank transactions in seconds. Costs, along with commission fees, are reduced by 40-70%. That’s why XRP attracts credit organizations to cooperate.
The company has other similar products. xVia, for example, provides the ability to make payments between companies. The xRapid application is also made for quick and cheap transaction processing. Its distinctive feature is the use of XRP tokens (cryptocurrencies) as an intermediate link. The latter is necessary in those cases when illiquid assets participate in the exchange.
XRP Price History
The coin started on the market with an approximate price of $0.06. The increase in the price of cryptocurrency is mainly due to the conclusion of a partnership with all kinds of banks. Since 2014, the price of a coin begins to grow rapidly.
The first price peak was fixed in May 2017. The price rise may be associated with the offices opening in Singapore and Mumbai. One XRP was worth of $0.34.
The second peak occurred in January 2018. XRP’s highest price ever was tested on January 4, 2018. It was $3.84. During 2018, the cost of the coin was slowly falling, and by September, the rate fell to 0.29.
In September 2018, the price rose to $0.56. For more than a year, the price has not shown tremendous breakthroughs and has been holding steady in the corridor from $0.5 to $0.2. Today the price of one XRP is equal to $0.291321 in USD.
If we compare the dynamics of the XRP rate with the news background, it is easy to notice that messages about joining a large bank or payment service to the Ripple network provoke short-term price hikes. So the public reacts to the success of the company. It is understandable. How not to be happy for the company, which, for example, has successfully launched a project with one of the largest banks in the world, Santander. This is just one of the hundreds of Ripple customers.
XRP Technical Analysis
Well, there is not any technical analysis expertise of XRP cryptocurrency. However, here is the aggregate rating for XRP from several traders & analysts on TradingView.
XRP Price Prediction for 2019-2020 & 2025
There is still a strong relationship between the dynamics of the token exchange rate and the change in the price of bitcoin. It is growing and falling along with the entire cryptocurrency market. The reasons for the rise in price are similar to the general premises, due to which the cost of Bitcoin and the entire crypto increases or decreases.
The widespread use of XRP is out of the question. It uses xRapid technology, but it remains unclaimed. If it becomes widespread, or other options for the practical application of XRP appear, the token will have real value and objective prerequisites for a significant rise in price.
Nevertheless, a coin can serve as a convenient and cheap means of payment. The commission in the network is incomparably lower than that of Bitcoin, and the transaction speed is higher. It is also convenient enough to use for cheap cross-border transfers. Purchases and transfers with XRP are not as popular as with Bitcoin.
However, in the case of global acceptance of the token, it is better suited for the role of a payment instrument than Bitcoin. Alas, the company is not interested in such a development for the coin. So, let’s go into some XRP price predictions to estimate the future of XRP.
#1. WalletInvestor XRP Price Prediction for 2019, 2020, 2025
According to the service, XRP is a bad, high-risk 1-year investment option. In one year, the price of the coin may drop to $0.04. As a long-term investment, XRP supposed to be good as WI offers a bullish prediction. The coin price will increase gradually. So, in 2020, the coin price will be $0.46. In 2021, $0.58. The average price in 2025 will be $2.32.
#2. TradingBeasts Price Forecast for 2019, 2020, and 2022
By the end of 2019, the XRP price will be $0.347. In 2020, the coin price will not change a lot, and the average one will be $0.36. In 2022, the rate may grow a little and reach $0.5 for one XRP.
#3. LongForecast XRP Price Prediction for 2019, 2020, 2022
By the end of 2019, the price will be about $0.3-0.34. In 2020, the average price will go down to $0.26. In 2022, XRP’s price will drop significantly to an average of $0.15.
#4. Quora Users Price Forecast
The funniest thing is the users’ price predictions. This is one of them.
If you are thinking about investing in the XRP project, then this is probably an excellent way to make a profit when it comes to long-term investment for several years.
Buy XRP at Changelly with USD, EURO or GBP
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. While price analysis is a useful tool, it should not be considered predictive for the future performance of any investment vehicle.
Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment. Website personnel and the author of this article may have holdings in the above-mentioned cryptocurrencies.