Ripple XRP or XRP has been making a lot of headlines recently. The price of the cryptocurrency is climbing higher in price as time progresses. In order to know what’s in store for the future, we have to look at trends, xrp price forecast, and do some analysis on upcoming events that may have an effect on the coin.
What is XRP?
XRP, short for “Ripple,” is a digital currency and payment system that was launched in 2012. It is what’s called a “cryptocurrency.” Unlike other major cryptocurrencies, it can’t be mined. Instead, the company has set an all-time limitation of a hundred billion XRP tokens in total.
As a cryptocurrency, XRP is similar to Bitcoin and has a market capitalization of over $21.6 billion.
Why Owning XRP Crypto Coins Could be Good For You
One of the most appealing aspects of XRP coins is that they’re decentralized digital assets. This means that they won’t be hacked, as long as there’s an internet connection available. Not only are the transactions more secure, but you also have options for sending money internationally at lower processing fees.
The need for these coins could increase exponentially in the future once more people are introduced to them and learn about their benefits.
XRP Price Prediction: Here’s What To Expect
Ripple is one of the larger blockchain and crypto companies. They are also one of the pioneers in digital assets. I’m providing a brief overview of what investors can expect from XRP over the next five years.
Expectations for Ripple in 2019 are high, with many expecting the XRP price to reflect this trend. Analysts predict a 10-to-20% increase in value, showing that good things are coming for all investors.
Future of XRP in the Financial Industry
Ripple has partnered with a number of major financial institutions and is listed on over one hundred exchanges. As a result, more people are starting to buy the currency, driving up its value.
Top Factors That Will Affect The Price
The answer partially depends on the performance of bitcoins, since this has been the main currency involved in cryptocurrency trading. If bitcoin crashes again to half of one percent of its value (which it did for about half from 2013 to 2015), then XRP could have a high single-digit percentage rise. The opposite is also possible (albeit less likely due to bitcoin’s increasing price). If a new crypto coin or token were to be issued, with an average perceived quality that was at least moderately better than XRP, and it was adopted like Ethereum or Ripple, there would be a decrease but not necessarily the death of overconfidence in Ripple Inc.
How to Invest
Investing in Ripple, or even just its cryptocurrency XRP has been an excellent moneymaker in the past year. Costing as low as $0.26 per token at the beginning of 2017, it grew to around $1.07 per token by December of the same year, with a very brief dip to around $0.80 a token in between (due to its inherent volatility). Though it’s impossible to have a definite crystal ball for such volatile investment tools as cryptocurrencies and stocks, it appears that Ripple will level out from here on out and continue to grow over time.
Drawing upon the information from previous and current trends, it can be concluded that by 2023 there will be a repeat of the 2016 rise in XRP prices. In the 19th and 20th centuries, gold was used as money. However, in 1971, when President Nixon closed the gold window, fiat money became backed solely by faith rather than any physical substance. Using math to analyze market behavior, it can also be predicted that XRP will experience continual growth while other cryptocurrencies experience volatility.