We are comfortable to go by the name Ripple for the coin but this is the network’s name. The coin is called XRP. But whatever you choose to call it, Ripple or XRP, it is well understood and we won’t mind also to use both words interchangeably.
What about Ripple price, what has the cryptocurrency got to offer?
Ripple is no doubt famous, especially among financial institutions. The interesting thing about the digital asset is that it defies the rules that make a coin crypto.
Experts call this asset a traitor for not abiding by the fundamental laws of other virtual currencies. A lot of people call Ripple a fraud in the digital asset climate.
They say it retains the status quo and that it is centralized and institutionally biased. Ripple’s most common criticism is that it is not a true cryptocurrency.
Most of these critiques have their different crypto philosophy, but XRP remains the second precious cryptocurrency in crypto space at the end of the day.
Nonetheless, there is every reason to view the digital asset in such light for the below.
One particular one is, although cryptocurrencies such as Bitcoins are intended for masses, banks use Ripple primarily. Notable cryptos like Bitcoin and others are mined and distributed, Ripple has been pre-mine, and Ripple Labs controls most of it.
While Bitcoin is on the opposing end to government regulations for the more free world, XRP works well with institutions and appears to be working hard to go with the status quo. This is where virtual currency proponents draw the line and why they feel it should not be considered a digital asset.
There are plenty of fans of cryptocurrency who hate this, arguing that Ripple is a violation of cryptocurrency’s very creation principle. Ripple is an important tool that changes the way global finance operates and traditional institutions are the more favored for this.
Although Ripple isn’t that a second-rated design, however, sending any amount of money around the world is a simple and cheap way with the network. Banks save money and cut time by using it.
That’s why it is used for remittances at international banks such as the Royal Bank of Canada, Santander, and PNC and more. You can hate Ripple because it doesn’t fit your view of what a cryptocurrency ought to be, but you can’t say it doesn’t work.
XRP price has importance because, in this respect, it is useful. Over the past few years, we have seen XRP rates rise and fall drastically, but we are positive about their future price. Find out our forecasts for XRP prices below.
Ripple Live Price Chart
Ripple is a complement to Bitcoin rather than its rival. The company has a Ripple section for users of Bitcoin. Ripple is a decentralized network, meaning that transactions take place immediately across the network.
Because it is peer-to-peer, the network is immune to systemic risk. It is not mined, unlike Bitcoin, but each payment cuts a small amount of XRP.
Find XRP’s live price with other important market data including market capitalization of XRP, periodic movements, trading volume, total volume, and price range and so on.
Pipple’s rate is offered by default but you can move to USD, EUR, Japanese Yen, British Pounds, and Russian Roubles in no time when you choose to.
XRP is the third-largest crypto-currency looking at things from the angel of the total market capitalization. It means that if you put the collection of all XRP coins together, the amount would be greater than any other cryptocurrency’s market cap, except Bitcoin BTC.
The Ripple price may seem small, coin by coin, but that’s because there are tens of billions of XRP. At the time of this writing, every XRP is put at about $0.27.
Like all cryptocurrencies, supply and demand rules govern XRP price. There may be plenty of Ripple in the world, but there are enough people who want to give it a try as a viable digital asset.
XRP price may have fallen fast, but the fact that they didn’t reach down to zero shows that XRP’s worth is getting stronger.
Ripple prices are determined mostly by how useful it is at any given time by its investors. Over many other cryptocurrencies, and from the current Ripple price, the digital asset is valuable because its users are not just retail investors.
Banks and financial institutions also buy XRP by the billion and use it in financial activities of all kinds.
The more people buying XRP, the less it has to go around in the circulating market. The scarcity causes prices to rise as people are prepared to pay higher prices on the market for a small XRP.
To anyone with trading experience, this is all pretty obvious, but sometimes we still get questions about it.
Bitcoin prices are essentially influencing the position of everything else in today’s cryptocurrency markets. Bitcoin is known as the cryptocurrency that is most indispensable and stable.
When the price of Bitcoin rises, the high-quality altcoins do so. Some claim that Ripple is a better cryptocurrency than Bitcoin, and in the coming days that it may rise to the number one spot on the log.
This may happen, but until then, if Bitcoin falls, Ripple will only gain significant value. It refers to any other cryptocurrency on the market, with a few exceptions.
Ripple Historical Prices
From history when the crypto markets were first exposed to Ripple, XRP traded in the thousandths of a dollar (USD). Over the first few years, XRP price grew above $0.02 on a few occasions. XRP price only really began to surge in mid-2017. And what a boom it was!
In early 2018, XRP peaked at around $3.50 on some exchanges. XRP’s early adopters got rich nearly overnight, and people were calling for over $10 in Ripple price.
None of this has happened. Like every other popular coin on the market, over the months following the early peak of 2018, its price plummeted more than 90%. Today, rates for Ripple are less than 10% of their all-time high, just at about $0.27 at the moment.
We appreciate the objections of the crypto investing community with XRP. That doesn’t mean we think XRP is useless or doomed, though. Ripple Labs has done amazing work with real global fin-tech companies.
Given the downward trend in the industry, we expect this “real-world acceptance” to expand during 2019 and for the world to slowly understand that Ripple is truly innovative technology for millions of people to use.
Ripple will expand its global reach as we speak in 2019. This year, the company will open offices in Dubai, expanding its activities in Asia, Europe, and elsewhere. After all, Ripple is all about financial transactions across boundaries.
It makes sense therefore that Ripple as a new global asset is a currency that shines brightly throughout the planet.
In the same way, and the same markets, we expect Ripple to become a familiar brand which cross-border transaction can be effectively carried out.
We’re going to see a lot of this growth in 2019, as Ripple has a big momentum already. Many news items will lift demand for XRP, even if prices for Bitcoin stagnate.
That said, let’s look, year after year, at our Ripple predictions.
Ripple in 2020
In 2020, it will be quite clear what business is intended in Ripple. If the price of XRP rose as we feel it would, such Ripple price is likely to have sparked a revival of the crypto asset.
It may also be accurate said that by 2020 a new bull market may also be in the making; whatever the case, Ripple will certainly remain in the top 3 of the cryptocurrency log.
Ripple rates are not going to be as high at this stage as they were at the start of 2018. The market will remain cautious, keeping in mind the bubble that exploded just a few years ago.
However, by this point, we will have entered the market with many new investors who have not lived through those dark days. This time as well, institutional money will flow more freely.
As institutional investors enter the game, XRP will be one of their assets of choice. You’ll know it’s a radical new technology in the international banking sector, which will drive prices up to at least $1.00 in 2020.
Ripple in 2021
In 2021, we estimate that the market cap on cryptocurrencies would surpass $1 trillion. Cryptocurrencies are going to be mainstream, and Ripple is going to be close to the top.
At this point, there will be enough liquidity in the markets to completely overshadow past all-time highs of the best projects.
In such a scenario, we would expect Ripple price to be in the $10 mark, so you might want to think about buying them now and having them in a Ripple wallet.
Ripple’s goals are international. For all kinds of financial reasons, it needs to be a viable currency. To be efficient, the XRP price will increase.
Paying for your mortgages or buying a home of your choice can be facilitated by Ripple during this period. For these purposes, a higher-priced XRP will make it more practical, and this is exactly what Ripple Labs wants for their cryptocurrency.
Nobody can tell for sure how the future price of XRP will turn out, but we are hopeful, even as we understand the anti-fans’ critiques of XRP. We believe there is room for all sorts of crypto-players on the market, even those who are willing to work by the status quo rules.
Factors Affecting Ripple Price
A single Ripple token’s current price is $0.27, but it varies a lot like any other crypto. Its highest growth occurred in January 2018 when the price rose to more than $3 per token. There is still a great future ahead for this digital currency.
The total number of XRPs is targeting 100,000,000,000,000, and this explains why they have such a low price. But if you look at the market cap, that says it all–it’s over $10 billion, which for the cryptocurrency industry is a huge number.
The only two cryptos that are currently stronger when it comes to the market cap are Ethereum and, of course, Bitcoin that still maintains a record of $109 billion – over 50% of the total market cap for all cryptocurrencies.
People trust XRP as you can see but faith is not the only variable affecting its cost. Several other factors make it go up and down. Let’s look at it.
1. Ripple’s Technology
Whether you like it or not, one of the most common things impacting its relevance is the technology that powers it. Besides how it works, you need to realize that XRP developers have a specific goal to accomplish.
Ripple Labs, the company behind XRP, needs much faster and more affordable international payments. There was SWIFT until the RippleNet was developed, a technology that fuels XRP. It was an international payment system used by all banks to transfer money. It was the only way until the advent of Ripple.
Many of the big businesses are using RippleNet software for worldwide transactions. Despite not being performed explicitly in XRP, it is used as an intermediary currency. This will pave the way for a rise in the XRP price and will have a positive impact on this cryptocurrency.
Who knows, it might become the only currency used for international transactions one day.
2. The Hype
The all-powerful hype, something that in a matter of seconds makes people and things famous. In the crypto business, things aren’t different.
It’s no secret that many groups are using different strategies behind certain cryptocurrencies to lift the buzz around their coins. The group behind XRP is made up of highly professional people in finance as well as engineering, but some do know one or two things about marketing and they could be using this very well.
They began building “strategic partnerships” and built up a substantial customer base. All of these are raising the speculation and impacting the price significantly.
Needless to say, the press has not just a positive effect on the price. The buzz could turn upside down in seconds if they take one wrong step, only to become a witch hunt.
3. Portfolio of Investors
Some people hold vast amounts of certain cryptos–so much so that with their actions they can potentially affect the price of the digital asset. They are the ‘Whales’ in the blue ocean. Any movement they make affects the market considerably.
The nickname is because the whales with their activity in the ocean influence a lot of other small fish, a behavior that perfectly illustrates how things work with the big players in the crypto industry.
But there are also parts of the world like South Korea and Malta, where a lot of XRP is currently located, and their exchanges, as well as the users of those exchanges, can have a huge impact on the XRP price. These two states are currently XRP’s leading traders and can have a significant impact on the market.
4. South Korea’s Government
Because Ripple has already been integrated into their daily use by this country, their government has begun to intervene. This means that government actions related to XRP have a significant impact on Ripple price as traders will have to change their behavior.
One of this government’s first regulations is anti-money laundering. They announced that all XRP holding accounts would have to comply with the regulations, or they would have to be frozen. Naturally, it also influenced XRP’s flow and its cost.
Where is XRP Heading?
There’s nothing complete in the cryptocurrency universe, and that’s also the case for XRP price. They are inevitably on a very good path and work on getting better on an ongoing basis. Their software is gaining worldwide recognition, and they are very proud of it.
There’s one small factor, though – other cryptocurrencies. A lot of competition is currently facing XRP, and the outcome of such rivalry is never assured except when visible in Ripple price listing.
So, keep a close tap on Ripple price for first-hand information on happenings around the market.
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