During 2017 and 2018, Ripple made a dizzying climb to become the second most capitalized cryptocurrency after Bitcoin. Following this growth, XRP's exchange rate and market capitalization declined for a long time. Cryptocurrency capitalization fell even deeper on average than the general sagging.
But XRP has made a strong comeback thanks to the crypto market boom of early 2021. The coin hasn't yet exceeded its previous highs, but who knows what the future holds? In the future, XRP may very well rise again. In this post, we will examine the coin's prospects closely.
Start Investing in Ripple now With ByBit!In 2012, Ripple's currency XRP was launched. In contrast to other cryptocurrencies, XRP is operated by a single company rather than a decentralized network.
Furthermore, it does not claim to be an alternative to traditional currencies. XRP is instead intended to serve as a middleman currency that allows global trade between any unit of value, such as Bitcoin, euro, or other fiat currencies.
As a financial institution, Ripple already works closely with banks. Ripple's main objective is to establish a network that is capable of simultaneously processing as many transactions as possible.
In order to attract large banks, remittance companies, and payment providers, Ripple aims to attract investors. As a result, it's clear that Ripple competes more with established financial services such as SWIFT than with cryptocurrencies like Bitcoin and Ethereum.
| Ripple Price 1y Return | 25.12% |
| Ripple Price 1m Return | -8.43% |
The SEC lawsuit against Ripple is perhaps the main reason why you probably shouldn’t buy XRP right now. Near the end of 2020, the SEC accused Ripple of selling $1.3 billion in unregistered securities through its XRP cryptocurrency.
However, Ripple claims that XRP isn’t a security, and that SEC didn’t properly warn that selling the token would be considered a securities offering.
So, what happens from here? It’s possible that Ripple and the SEC could come to some sort of settlement agreement. But until then, the lawsuit could have a significant negative impact on the success of Ripple. It’s already hindering the blockchain/cryptocurrency from going public and has caused many major crypto exchanges to remove XRP. The lawsuit may have also played a role in keeping XRP’s price down.
The FED (Federal Reserve System) interest rates have recently been hiked. Although you would expect the FED to affect stock more, we must remember that the stock and cryptocurrency markets have always been related. So it makes sense that FED policies will affect the price of crypto.
This hike is intended to try and control the out-of-control inflation we have been seeing in global markets. So, as investors navigate the uncertain economic waters, several markets are struggling. Crypto included.
Should I Buy Ripple (XRP) 2024? Top Pros and ConsSo, why should you buy Ripple in 2023? There are several reasons. We’ve listed a few of them below.
There are many cryptocurrencies that are trying to replace the banking system. But Ripple aims to work with financial institutions with RTXRP’S remittance features.
Its founders and developers understand that it would be naive to assume that financial institutions will disappear in the future. So, instead of trying to replace banking functions. Ripple is trying to work with them by offering secured, quick, and easy settlement procedures.
This is why the blockchain has been such a favorite among many banks, including Axis Bank, Yes Bank, SBI Remit, and more. As an investor, you may see this as a great sign of trust and security.
In 2021, XRP saw a sharp drop in price, going from $1.83 to $0.51. During this time, the litigation between the SEC and litigation was taking place. However, factors that played a more significant role in the price movement of XRP was the overall negative dynamics of the crypto market. And although the court granted the SEC’s request to extend the case consideration by two months, XRP’s price still managed to rise from $0.51 to $1.39.
XRP’s price saw a plummet in January 2023 due to the fall of Bitcoin. Yet, XRP was still able to recover its price. And although it hasn’t reached the highs seen at the beginning of September, the uptrend is in force.
If the crypto market continues to grow and XRP wins the court case, its price is likely to see a significant increase.
Ripple, more than any other cryptocurrency, has gained appreciation from banks and other financial institutions. Top banks all over the world are using Ripple for cross-border payments. In fact, the Ripple network works with global financial institutions from over 55 countries.
As an alternative to traditional systems, these financial institutions are using XRP to source liquidity during cross-border transactions, as an alternative to traditional systems.
Unlike other blockchains like Bitcoin and Ethereum, Ripple processes transactions quickly. This has resulted in lower transaction fees, making it a very useful cryptocurrency for trading purposes. The cost to complete a transaction on Ripple is 0.00001 XRP, which is a small fraction of a penny at current rates.
So, although many investors have written off Ripple due to its SEC lawsuit or its decrease in popularity, this coin is still going strong due to its relatively low transaction fees. And it’s remained one of the biggest cryptos in the world by market cap.
As a decentralized blockchain network. Ripple’s native currency XRP has managed to maintain a stable price. This stability is a critical factor investors should keep in mind as they consider which cryptocurrencies to invest in.
The Ripple XRP community is one of the largest and strongest cryptocurrencies communities in the world. Anytime XRP is criticized, members of its community fight back on several online platforms, from Twitter to Reddit.
Recently, the XRP community has rallied together in response to the court case that’s being built against the blockchain. This shows just how loyal the community is to the coin and that people really believe in XRP. As a result, this can attract even more investors to the XRP network in the long run. This will, in turn, drive up its value in the market.
XRP price prediction for today and 1 weekTo find a better entry point, also find out what TradingView technical analysis tool signals for the Ripple price for the next month. "Sell" or "Strong Sell" means that most of the signals are bearish. "Buy" or "Strong Buy" means that most of the signals are bullish.
We have compiled Ripple long term price predictions, they can be useful, but it is worth remembering that the predictions are often inaccurate.
Since the crypto market is highly volatile, it is difficult to predict long-term prices accurately. Furthermore, external factors may also affect the value of cryptocurrencies.
According to the analytical forecast by Anton Kharitonov, an analytical portal, whose prediction is conservative. According to it, XRP may reach the range of $0.5181 – $0.6333 by the end of 2023.
| Month | Minimum Price | Average Price | Maximum Price |
|---|---|---|---|
| March 2024 | $0.4822 | $0.5358 | $0.5894 |
| April 2024 | $0.4861 | $0.5401 | $0.5941 |
| May 2024 | $0.49 | $0.5444 | $0.5988 |
| June 2024 | $0.4939 | $0.5488 | $0.6037 |
| July 2024 | $0.4979 | $0.5532 | $0.6085 |
| August 2024 | $0.5018 | $0.5576 | $0.6134 |
| September 2024 | $0.5059 | $0.5621 | $0.6183 |
| October 2024 | $0.5099 | $0.5666 | $0.6233 |
| November 2024 | $0.514 | $0.5711 | $0.6282 |
| December 2024 | $0.5181 | $0.5757 | $0.6333 |
| Year | Price in the middle of the year | Price at the end of the year |
|---|---|---|
| 2024 | $0.5488 | $0.5757 |
| 2025 | $0.6039 | $0.6334 |
| 2026 | $0.6644 | $0.6969 |
| 2027 | $0.7311 | $0.7668 |
| 2028 | $0.8043 | $0.8436 |
| 2029 | $0.8849 | $0.9283 |
| 2030 | $0.9737 | $1.0214 |
| 2031 | $1.0714 | $1.1238 |
| 2032 | $1.1789 | $1.2366 |
| 2033 | $1.2972 | $1.3607 |
| 2034 | $1.4273 | $1.4972 |
| 2035 | $1.5707 | $1.6478 |
Before selling your XRP tokens, consider whether holding on to your XRP holdings for a little longer may result in more profits or losses. Depending on your entry point, you may need to determine whether you will profit or lose from selling your assets.
Trading expenses are crucial to consider when choosing a transaction to undertake. While XRP transfers are free, fiat withdrawals are much more expensive on exchanges due to fees.
The next step is to register for an account on an exchange.
Verify your account. Even if you sign up for an exchange with optional verification, withdrawal options may have greater limitations if you choose not to submit certain personal information, such as a picture of a government-issued ID.
Deposit XRP into the account’s wallet.
Sell the XRP for USD.
Withdraw the USD. This typically involves linking your bank account in order to access your funds.
It is an open-source cryptocurrency initiative aimed at improving cross-border money transfers. It is rare to find a cryptocurrency with a lifespan of ten years or more, making XRP a compelling long-term investment.
Many people have criticized XRP. The Securities and Exchange Commission (SEC) and Ripple, XRP's parent firm, haven't battled in court for over two decades. Even as Ripple officials are accused of unlawfully selling securities, investors who wish to invest in XRP still face risk.
If this case proves successful, the risk would be worth it. In general, it is expected that a settlement will be reached this year. Therefore, if any good news comes out, XRP will gain in value significantly.
So, should you sell XRP? Whether you want to sell XRP to cash out a profit, limit losses, or break even, make sure you choose the right platform.
Since the crypto market as a whole has significant price fluctuations, predicting future outcomes can be difficult. It is ultimately up to each investor to decide whether to buy or sell crypto. Always remember to only invest as much as you can afford to lose.
The following tools and instruments were used for making the prediction:
Basic instruments of technical analysis. The forecast relies on basic technical indicators. The analysis was performed mostly on medium and long-term time frames for more accurate results.
Statistical tools that allow experts to evaluate the probability of an event that may influence the prices of cryptocurrencies.
Individual features of a cryptocurrency startup and its competitiveness: number of tokens in free circulation, restriction of emission, potential usefulness of the startup for the society, roadmap and development plans of the startup, potential vulnerability of the startup’s blockchain, examples of hacks, failures in the entire history of cryptocurrency existence, capitalization dynamics compared to key competitors, share of major coin holders and other subjective factors.
Note:
This price prediction is based on current information and historical data. Strong fundamental factors capable of radically changing the overall situation in the cryptocurrency markets, impacting the prices of certain cryptocurrencies and subsequently changing the price trend, may appear in the future. The price predictions are updated regularly based on the latest data.
This article is created for informational purposes only and does not constitute investment advice. Be aware of the high volatility of cryptocurrencies and consider these risks when making investment decisions.
As long as Ripple's business performs well, XRP could reach new heights within 10 years. According to current projections, Ripple's price may go from $1.2972-$1.3607 in ten years.
XRP holds a strong position in international banking despite the challenges that come with adopting blockchain technology. Banks use blockchain because it has many operational benefits, which make it an appealing technology.
Due to its growth potential, XRP might be a good option for low-cost cryptocurrency investing. It is likely that when the final SEC court judgment is issued, the coin will dip or spike sharply.
You still have time to invest in XRP in 2024 if you plan on holding it for a long time. Crypto assets are unpredictable. The price of every crypto asset will fluctuate throughout the year.
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
