In recent times, digital currencies are becoming more popular and have been widely adopted by many people across the globe. Ripple(XRP) is considered one of the top 4 cryptocurrencies along with Bitcoin, Tether, and Ethereum. Almost a year has gone by; we need to look out at what 2021 has in store for cryptocurrencies, especially the most popular cryptocurrencies.
What Is XRP?
- Ripple was launched in 2004 when Ryan Fugger (Founder of the original Ripple project) developed the prototype of its decentralized payment system, and it was named RipplePay. Initially, the system was launched to offer reliable payment options for a global network.
- In 2012, Ripple was released, and just like Ethereum, it was used to describe its native currency and its payment network. The network is called RippleNet, and the cryptocurrency is XRP.
- In the same year, Jed McCaleb and Chris Larsen acquired the company, and Ripple was renamed OpenCoin. From that point on, it focused on developing a method for offering payment solutions for major financial institutions and banks. After three years, the company has gone back to its current and original name, Ripple; since then, it has remained as it is.
Ripple’s (XRP) Recent Developments
Let’s look at what recent developments have taken place at Ripple.
- Temporarily, XRP had stopped offloading its tokens every quarter, a practice that was implemented recently because of its price opposition. Even though offloading has the potential to increase the Ripple coin’s price, its founder Jed McCaleb continues to sell a huge amount of coins daily.
- The ripple-backed startup, Flare network has distributed spark tokens(airdrop) to XRP holders and was officially launched on December 12. It was said that this distribution would not be supported by Coinbase.
- Forte, Ripple’s largest gaming partner, has announced new partnerships recently, which includes Gallium studios. This gaming company has been headed by Will Wright, who is the creator of the SimSeries, and SimEarth.
- Recently, XRP’s regulatory clarity and its legal status have caused a few problems. This caused minor fluctuations in its price, and still, the situation needs to be resolved.
Ripple Price Prediction Tools
If you want to know more about Ripple predictions, you can use various tools and follow market analyses to get the necessary information. There are tools that will help you not only understand the current market situation but also make predictions using various indicators.
- Technical Analysis Tool
If you want to determine the future Ripple value, you can use Tradingview; This charting tool can be used with maximum flexibility and, when used over time, will help you to understand where the XRP price is headed. Various price indicators can be accommodated in the charts that will help you to forecast the trend.
- Sentiment Tracking Tool
You track the market sentiment in the cryptocurrency industry, specifically for Ripple, using a Twitter channel @XRPspeculation. They also have a YouTube channel that is frequently updated. Aside from Twitter, you can follow crypto industry news publications such as Cointelegraph and Coindesk and follow news on social media.
Current Price of XRP
According to a Statista report, as of Feb 1, 2021, last December 2020, Ripple was valued at the US $0.20 a coin which is a price less than three times its value. In November, the value of Ripple had gone below $1 per coin throughout the year, and there was no indication of an increase in its value.
XRP Price in 2020
In 2019, the crypto market had closed and opened with a slow recovery for most cryptocurrencies, especially Bitcoin; but Ripple’s price began at $0.35, and it consistently declined without any jumps, except in the mid-year. XRP was valued at $0.20 a coin in January 2020, and due to the bullish trend, it went up to the $3 mark. This trend continued till March, and it had gone up more than hundred 150% of its earlier price and stagnated at $0.35 in the end.
Price Prediction for XRP in Upcoming Years
- XRP Price Prediction 2021
Leading rating agency Moody anticipates that the blockchain industry might expand in 2021, with Ripple improving its present position in the cryptocurrency market. According to some news on XRP and experts’ forecast, XRP could cross the $2 mark if the financial interest in adopting Ripple continues to materialize.
- XRP Price Prediction 2025
Experts predict that the XRP value might increase up to $4.50 in 2025. Ripple’s XRP has been adopted by financial institutions worldwide. It has partnered with several institutions in the US, and it might partner with European regions, which would increase its price.
- XRP Price Prediction 2030
Although 2030 is still a long way, XRP will concentrate more on adoption and regulatory challenges. Moreover, Central bankers are accepting the idea of cryptocurrencies. Ripple intends to develop various alternatives. XRP is predicted to take a dynamic role in payment and banking solutions which might increase its value in the future. On a positive note, if Ripple continues to grow at the current rate, we can expect the price of XRP to rise from $17 to $20 by 2030.
Ripple is one of the leading cryptocurrencies, and its RippleNet technology is well known in bank-to-bank transfers and cross-border transactions. It has been adopted by several financial institutions globally. We can expect its services to be extended to several nations in 2021 and continues to develop even more. Several experts predict that XRP can reach $1.20 by 2021 end, or it might go even up to $2 maximum. It also depends upon the political conditions and the market fluctuations.