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could XRP reach $ 1 in 2020?

For the past several years, Ripple has made headlines by being at the forefront of building meaningful relationships with traditional financial institutions around the world. In contrast to many of its counterparts, the project continues to focus on cross-border transactions and pursues the main goal of revolutionizing international payments with its innovative solutions.

Ripple’s native coin XRP is now the third largest cryptocurrency by market capitalization, and is on the heels of industry veterans – Bitcoin (BTC) and Ethereum (ETH).

However, after the infamous crypto winter of 2018 hit the industry, the price of altcoin struggled to ever get close to its record highs again. In addition, many are still arguing about the nature of this crypto, which has sparked a lot of controversy about the project and doubts about its future.

Now that XRP is looking to finally trade above $ 0.30, community investors are betting on whether or not the coin will cross the $ 1 mark by the end of this year.

Would you like to invest in the Ripple currency but are not sure how it will develop in the foreseeable future? We got you covered. In this article, we summarize the fundamentals of the project, review the recent price volatility, and see what the latest XRP price predictions look like for 2020 and beyond.

Read our new forecast: Ripple Price Prediction 2021 and Beyond: Up To $ 30?

What is Ripple about?

Ripple traces its roots back to 2004 when Ryan Fugger designed the first prototype of a decentralized payment system called RipplePay. A year later the system was introduced with the aim of offering reliable payment solutions in a global network.

In 2012 it was renamed OpenCoin. Since then, the goal of the project has been to develop a protocol to provide innovative and useful payment solutions for banks and large financial institutions. In 2015, the company returned to its current name – Ripple.

The system is powered by the cryptocurrency XRP. The coin was designed to simplify financial transactions by making them faster and cheaper.

Ripple price prediction

What makes Ripple attractive to investors?

In contrast to other cryptos, the project does not try to oppose the current financial system with banks and governments. In fact, Ripple is doing its best to integrate with it.

With such high ambitions, the project should be a success.

Ripple confirmed that it has signed over 300 banking and financial client partnerships. The list includes some world famous names like Euro Exim Bank, Barclays, HSBC, Accenture, MoneyGram, JNFX, FTCS, BFC Bahrain, ConnectPay, Ahli Bank of Kuwait, Transpaygo, GMT and WorldCom Finance.

A year ago, the company’s CEO, Brad Garlinghouse, said, “We are now adding two – sometimes three – new customers a week. We also saw a 350 percent increase in customers sending live payments last year, and we’re seeing more and more customers flip the switch and use XRP for on-demand liquidity. “

In October 2019, Bank of America confirmed a collaboration with Ripple’s XRP Ledger to test distributed ledger technology for cross-border payments. However, it was also stated that the institute has no plans to start XRP just yet.

Just a week ago, another major financial institution teamed up with Ripple. The National Bank of Egypt has signed a cooperation agreement to create new channels for incoming transfers.

The latest news proves two points. First, there is a lot of interest from the institutional side. Second, Ripple’s core team can easily boast a great deal of strategic expertise.

The widespread recognition of the project continuously strengthens investors’ confidence in its bright future.

XRP Performance Over the Years: Shoot Crypto Star?

Should I Invest in Ripple? Many people asked this question back in 2018 after seeing the coin soar from $ 0.006 to over $ 3.8 in less than a year.

Ripple price prediction

The coin launched in 2012 at an approximate price of $ 0.005. Its value remained pretty much unchanged until 2017 when the entire crypto industry experienced an incredible boom.

The first prize summit took place in May 2017. At the time, the XRP soared to $ 0.36 per coin, followed by the opening of the Ripple office in Mumbai. Prices hovered around $ 0.20 over the next six months.

The second peak occurred in January 2018. On January 4th, XRP hit its all-time high of $ 3.84. However, in the future, the price gradually began to fall, and by September the price fell to $ 0.29. The short-lived upward momentum then pushed the value of the coin to $ 0.56. XRP closed 2018 at $ 0.35.

In 2019, the coin had no major breakthroughs, holding in the $ 0.2-0.5 range. After bottoming at $ 0.17 in December, the price of the third largest cryptocurrency rose to $ 0.33 in eight weeks, an increase of nearly 100 percent.

Now that XRP is trading at around $ 0.30, analysts have split in two. Some are certain that the prominent altcoin is likely to have more upside potential, while others say it has the potential to plunge dramatically yet again.

If you analyze the dynamics of the XRP course, it is easy to see that Ripple news play a decisive role in the valuation of the coin. Every time the company announced a new partnership with a major bank or payment service, it would always trigger short-term price increases at XRP.

But will the project be able to expand its service further? Let’s find out what the latest Ripple (XRP) prediction looks like.

What the future holds: Ripple price prediction for the coming years

Some financial giants like JPMorgan are currently working on launching their own digital assets, some of which are likely to offer a service very similar to Ripple. If this actually happens, the acceptance rate of XRP will drop significantly, leading to a possible devaluation of the coin.

This remains one of the biggest problems that worries many about the future of the project. The only way for Ripple to avoid this bearish scenario is to promote its currency not only as a means of payment but also as an investment vehicle.

Looking ahead, Brad Garlinghouse told Bloomberg, “I’m not thinking about the price of XRP in the short term. I think if we can make XRP the most efficient in terms of the speed of a transaction and the cost of a transaction, more and more people will be using it. “

While Garlinghouse’s determination to be around for the long term may reassure some investors, do all analysts remain optimistic? Is it worth investing in Ripple in 2020?

Crypto Rand, a well-known cryptocurrency analyst and industry figure with over 200,000 followers on Twitter, said that if XRP breaks the current price range it trades in – $ 0.30 to $ 0.31 – prices will likely go “moon shot”. Its chart indicated that if the price hit some daily closing prices above $ 0.31, it would rise at least 50 percent toward the $ 0.47 resistance Euros) is expected.

Josh Olszewicz, an analyst at cryptocurrency data provider Brave New Coin, supported this prediction. He commented that if XRP breaks above $ 0.30, its historic resistance, the cryptocurrency could rise 66 percent to $ 0.50 in the months following that event.

Meanwhile, Peter Brandt, a commodity trading veteran, said the XRP price could drop to just $ 0.2071 in the short term.

According to the online forecasting service WalletInvestor.com, XRP is a “bad, high-risk 1-year investment”. In one year, the price of the coin is expected to drop to $ 0.02 by December 2020. In five years’ time, they predict that this cryptocurrency will trade at $ 0.029 in February 2025.

Ripple price prediction

TradingBeasts.com predicts that XRP price will hit $ 0.361 by early March. In the long run, the coin is not expected to fluctuate much, with this year’s average being $ 0.34. By December 2025, the service estimates the rate will rise slightly and trade at $ 0.52.

Based on the opinion of another popular forecast website Longforecast.com, the XRP price prediction for December 2020 is $ 0.17. For 2022 they forecast a sharp decline, to just 0.09 by the end of the year.

Ripple price prediction

A much more optimistic Ripple price prediction is provided by Cryptoground.com. They forecast XRP to trade at $ 0.348 in a year, up nearly 28 percent. The growth is expected to continue, with the coin reaching $ 1.9422 in five years.

Ripple price prediction

Looking ahead, DigitalCoinPrice.com states in its Ripple forecast that XRP will show moderate price growth. The positive trend is expected to take hold, with coin trading trading at $ 0.54 by the end of 2020. Looking ahead, they predict that this cryptocurrency will reach $ 1.23 by 2025.

Ripple price prediction

Finally, in the Ripple (XRP) price prediction provided by CoinSwitch, the price of XRP is expected to gradually increase, eventually reaching a $ 1.10 mark in the middle of the year. They believe the coin can hit the $ 2 mark by 2021 if Ripple continues to develop rapidly and has independent trading platforms and investment routes like Bitcoin and Ethereum.

So is Ripple a good investment?

Of course, as with any other asset, there is no single answer to this question. The challenge in choosing cryptocurrency is that the market is very dynamic. Its volatility makes it quite difficult to predict what the price of a digital coin might be in a few hours; and even more difficult to make long-term predictions.

Although Ripple is growing rapidly and attracting a lot of attention from large financial institutions, many are still arguing whether or not the project can hold its own in the face of growing competition.

Whenever you are thinking about investing in Ripple, you should always keep in mind the latest technical analysis, expert opinions, and market trends. It is always crucial to arm yourself with as much knowledge as possible in order to build a successful trading strategy.

Read more: Ethereum Price Prediction 2021-2025: Target of $ 9,000 is realistic

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