Even though Ripple has been one of the best performing Cryptocurrencies in the past few years, the current XRP price prediction is looking a bit cloudy.
So what did truly happen and why did other Cryptocurrencies outperform Ripple in the latest bull run?
In this XRP Price Prediction we will answer your question – Is Ripple a good investment?
Lots of investors are too quick to judge Ripple and say that it is nowhere near reaching success as a Cryptocurrency. However, XRP has many benefits and advantages over other Cryptos.
What is Ripple?
Ripple Blockchain is a technology that acts as a Cryptocurrency and provides a payment network for its users.
Its co-founders are Jed McCaleb and Chris Larsen.
They released XRP back in 2012 through their US-based company Ripple Labs Inc.
Ripple is not your average Cryptocurrency or technology. There is a whole well-established company behind it: Ripple Labs Inc.
Back in 2013 banks and other financial organizations got interested in using XRP’s blockchain as their payment provider network.
Nowadays, over 300 providers across 6 continents use XRP as their main transaction processing network.
What makes XRP special?
In usual terms, lots of different Cryptocurrency payments are unreliable, slow, and high-cost.
Meanwhile, Ripple offers a network that is authentic, processes transactions at the fastest pace, and is very cost-effective (basically free).
Many financial and Crypto analysts believe that Ripple has a big potential of replacing SWIFT.
For example, SWIFT transfers take as usual as 3-5 days to settle and have increased costs.
In addition, there is no transparency in SWIFT payments and their error rate of international transfers is roughly 5%.
While XRP is fully transparent and the error rate is close to zero.
Ripple is not trying to reinvent the wheel.
However, goal is to take what already exists and improve it.
SEC lawsuit over XRP
At the end of December 2020 SEC accused Ripple’s founders of selling over $1 Billion in XRP to third parties to promote the token and support the Cryptocurrency.
Because of this lawsuit, most Crypto exchanges removed ripple from their trading pairs.
In other words, one can not buy nor sell Ripple on such exchanges.
Ripple’s founders are claiming that SEC did not provide fair notice that their sales of XRP are violating the law.
They pointed out that Ripple is registered as convertible currency allowed for sales and secondary market transactions.
SEC lawsuit’s effect over XRP’s Price
Before the lawsuit, Ripple was trading at $0.59 per coin. Just in five days, XRP dipped by 63% trading at $0.22 per coin. There were 2 major factors that triggered such a large price change.
Firstly, you could not buy/sell XRP on the most of largest exchanges which obviously would have a strong impact on the coin’s value. Secondly, because of such frightening news, many holders’ only XRP price prediction was to dump their bags and start panic selling.
At the time of writing this article, Ripple is up by 100% since the end of the December trading over $0.44 per coin.
Ripple Market Prediction
With such a volatile market, no one can give an exact answer to what is going to be the coin’s future price. To get a clearer idea of the XRP price prediction, let’s consider some reputable publications and personalities, and their statements regarding the Ripple price prediction.
Ripple Coin News
Ripple coin news is the second-largest traffic-based news website. It estimates that the coming years will surface as a flourishing era for Ripple after a complicated trend. As there will be an expansion of alliances and emerging technology, which will raise its price to $8 of $10.
Oracle Times has recently mentioned in one of their articles that if Ripple becomes the best choice for cross-border payments by financial institutions it might surge as much as 2000%.
Capital seems to be very bearish with their prediction. They expect XRP to trade at an average of $0.30 by the end of 2021. They seem to overlook the potential behind the Ripple blockchain.
According to all of these predictions, the majority of the companies believe that the average price of $5 is the realistic sum. Eventually, the value of $5 will also represent a 12.5X ROI. Sounds good, doesn’t it?
Our XRP Price Forecast 2021
Even though Ripple suffered a major fall over the past few weeks there still is encouraging news to look out for.
After the SEC lawsuit is over there is a chance for XRP to surpass $ 1 and even touch its old all-time high ($3.57 per coin).
The reason we are saying this is because as we have mentioned Ripple has an actual usage worldwide.
So what plays an important part in Ripple’s success? Pleading innocent in court.
3 Valid thoughts why we think Ripple will sky-rocket.
- Before XRP SEC had charged several other companies. The lawsuits were stretched out for a certain period of time. However, none of them were convicted. In other words, SEC tends to go after the companies even without having actual proof.
- Ripple teams up with 21 lawyers. The more brains are working together the better a final outcome is.
- This one is where things get really interesting. A few days ago over 400,000,000 XRP were transferred from an unknown wallet to Coinbase Exchange. Coinbase is one of the exchanges which prohibited buying/selling XRP on their platform. Now ask yourself, why would someone transfer such a large amount of Ripple to an exchange where it’s not even tradeable? A thought to consider…
To sum up, there is no actual source of information that would guarantee the final outcome.
However, because of Ripple’s conveniences, worldwide utilization, and recent news that we have mentioned, we believe that XRP is destined to shine again.
Based on our XRP price prediction If you have a couple of extra dollars and ready to take a gamble, in case of turning out right the result is going to be highly rewarding.
This is not financial advice and we always suggest to DYOR before investing in Cryptocurrency.
If you liked this article feel free to share it with your friends who are already holding or thinking to buy Ripple.