Digital coins have been increasing in demand day by day over recent years. XRP (Ripple) is one of the four cryptocurrency leaders alongside Bitcoin, Ethereum, and Tether.
Ripple has been showing rapid progress throughout its existence, and XRP price has experienced significant growth.
With such a large market cap, many investors are trying to determine whether the altcoin can continue to grow this year.
Ripple, a crypto asset performing well this year to offer a seamless payment gateway experience, has recently launched a new project on its RippleNet called Line of Credit. This project is a beta service that enables Ripple customers to easily obtain funds. Then, they can start financing their cross-border projects using XRP tokens.
Additionally, Ripple has recently partnered with Lemonway, a payment gateway in Europe for online marketplaces. This partnership is expected to improve payment transactions between euro-to-euro and other currencies supported by Lemonway.
Let’s see if these circumstances are sufficient to make Ripple a good investment. Check our Ripple XRP market analysis and price prediction below in this article.
What is Ripple (XRP)
Ripple is a privately-held fintech firm that provides a global payment solution through its patented payment network called Ripple Network. Moreover, RippleNet is a payment network built on top of Ripple’s consensus ledger, called XRP Ledger. Additionally, Ripple supported the innovation of the open-source XRP Ledger.
Unlike most cryptocurrencies that cater to peer-to-peer needs, Ripple was designed to unite banks, payment providers, and cryptocurrency exchanges, providing real-time settlement expeditions and lower transaction fees.
History of Ripple (XRP)
Before delving into XRP price prediction, it’s worth noting that Ripple was founded by Ryan Fugger in 2004, who initiated the Ripple Payment Network. Jed McCaleb and Chris Larson took over this Payment Gateway project in 2012, which marked the formation of Ripple. Until 2013, Jed McCaleb served as the CTO of Ripple.
Originally, the XRP Ledger was called “Ripple” due to how the technology allowed payments to ripple through multiple hops and currencies. The creators chose the ticker symbol “XRP” from the term “ripples” and the X prefix for non-national currencies in the ISO 4217 standard.
The company registered itself as “Ripple Labs”. Later, in 2018, to avoid confusion with similar names, it selected the name for the company and XRP for a digital coin.
Difference between XRP and Bitcoin?
- The supply of bitcoin is limited, and it depends upon the miners when they release the coin in the market, whereas for XRP, Ripple plans the release of coins in the market. A small contract is used to release XRP in the market.
- XRP is easy to mine or pre-mined, and it is much cheaper and faster in terms of the transaction. Bitcoin, on the other hand, uses a complicated system of mining. The mining cost and time taken to mine are higher, and it may sometimes take many minutes for transactions to complete.
- The Ripple network validates the transactions of XRP, which uses a unique distributed consensus mechanism to validate transactions. Bitcoin transaction validation requires huge energy requirements, which is not suitable for the environment.
Theoretical Analysis
XRP aims to resolve several issues faced when using bitcoin, such as low speed and high transaction fees. Ripple’s transaction speed is only about 4 seconds, and it can handle about 1,500 transactions per second.
Ripple Labs initially created 100 billion XRP tokens that operate independently from Ripple.
Therefore, Ripple (XRP) is the currency that runs on RippleNet, a digital payment network, which is on top of the XRP Ledger distributed database. The XRP Ledger is open source and is based on distributed ledger technology.
Since mining involves electricity consumption, leading to greater exploitation, Ripple takes the eco-friendly route and is sustainable.
XRP has been making rapid progress throughout its existence, and its price has seen substantial growth. Despite the challenges facing Ripple, the altcoin’s price has remained less impacted and has continued to rise. Many experts believe XRP prices are undervalued and may grow significantly in the near future.
As money exchanges tend to rule a substantial segment in the currency market, the rise of XRP has changed the dynamics.
Moreover, the criticism of mined assets peaked earlier this year, drawing attention to this sustainable altcoin. Here is everything about the future currency, the latest buzz and trend patterns you must know!
XRP Current Market Status as of September 28, 2021
As of September 28, today, the XRP price is USD 0.939060 with a 24-hour trading volume of USD 2,708,314,560. XRP is down 2.52% in the last 24 hours. The current CoinMarketCap ranking is #6. It has a circulating supply of 46,717,640,571 XRP coins and a maximum supply of 100,000,000,000 XRP coins.
XRP Price as of September 28, 2021
XRP Price Forecast For 2021
The price of XRP surged in 2021 despite the legal battle against the SEC and Ripple’s CEO. Although there have been positive developments for XRP HODLers, rumors circulated regarding the weak case against XRP.
The price rose from $0.2 to over $0.5 in February and traded above $0.4 until a sharp increase pushed the price close to $1 in April. Subsequently, the price eventually hit $1 and reached yearly highs at $1.9.
From the end of April to the end of May, the price dropped to lows of $0.77 due to the market crash on May 19. The downward trend continued until July, when the price was trading slightly above $0.60.
The month of August started on a bullish note. The altcoin broke the $1.00 target for the first time in over 60 days. Despite facing the Securities and Exchange Commission (SEC) lawsuit, the company has recently made a few important deals. Notably, GME Remittance, one of the largest non-bank remittance service providers in South Korea, announced it had joined Ripple’s payment network RippleNet.
By the end of 2021, being a fast and less expensive cryptocurrency, XRP could attract many investors. This might drive the price to hit the $2 mark in a bullish market.
Conversely, the pre-mined XRP supply could push the price down. In such a scenario, the price may briefly decline towards the $0.561 level and may recover within a short timeframe.
XRP Price Forecast 2022
The XRP price is expected to end 2021 on a bullish note and kick off the new year with a similar trajectory. In such a case, the price could hover close to $2 or open the year trading at $1.8 to $1.9.
If the trend turns bearish, the price would likely remain above $1 or slightly below. However, the Ripple vs SEC case is expected to yield outcomes in 2022, and as a result, most exchanges are expected to relist the currency. This scenario could have a significantly positive impact on the XRP price.
By the end of 2022, if the predicted events come to fruition, the likelihood of the price reaching a new milestone around its current ATH is high. Additionally, the price could successfully set new highs and reach towards $4.
If the lawsuit has no impact on the price, normal buying and selling activities may keep the price below its current ATH at $3.4
Ripple Price Forecast 2023
Based on a long-term realistic XRP price forecast, Ripple’s price is anticipated to see price improvement in 2023 due to advancements and partnerships in their plan. Ripple (XRP) price might reach close to its previous all-time high at $4.
Ripple Price Forecast 2024
According to our short and long-term technical analysis and Ripple price forecast, the cryptocurrency price could reach $5 in 2024 if it gains traction as a replacement for most fiat currencies, reflecting a potential bull run and skyrocketing the XRP price in the long term.
Ripple Price Forecast 2024
As per our short and long-term technical analysis and Ripple price forecast, the cryptocurrency price could reach $5 in 2024 if it gains traction as a replacement for most fiat currencies, reflecting a potential bull run and skyrocketing the XRP price in the long term.
XRP Price Forecast 2025
Ripple is also expected to collaborate with more European and Latin American banks to promote XRP and Ripple payment technology. Such developments could lead to significant price changes in the XRP token. This could attract more investors and drive the XRP price towards the set target of $5 initially and later towards $10.
If the market experiences a crash in the next five years as it did previously, the price could drop to approximately 50% and reach a low of $3.513.
However, if Ripple manages to retain existing investors by maintaining a stable network and positioning itself as an affordable exchange medium over the next five years, the price could reach an average of $5.742
Expert Opinions on XRP price forecast for 2021?
The SEC case is still unresolved. Previously, it had a significant impact on the XRP price, but the current situation is less clear.
At the end of 2020, the XRP price dropped to a local minimum of $0.17 as the SEC case gained momentum. In early April 2021, the XRP value reached a three-year high at $1.11 as the court allowed the company to review the internal documents of the SEC.
On May 4, Ripple faced a plunge as the SEC threatened XRP holders with legal action, opposing investors to join the XRP securities recognition case. Nevertheless, the downturn was short-lived, as the company appointed a former US treasurer to its board.
How should investors navigate such uncertain circumstances? Is Ripple expected to rise or fall? Let’s look at expert predictions.
Wallet Investor
Wallet Investor predicts that the average price of XRP will fluctuate below $1 until December, when the rate will touch $1.075. Although the website doesn’t forecast a strong uptrend, the average price stays at reasonable levels.
The highest price will break above $1 in September. The minimum rate won’t fall below $0.30. However, the difference between the low and high price signals increased volatility.
TradingBeasts
TradingBeasts expects the average XRP price to range between $0.82 and $0.85.
The website foresees an uptrend, which is a positive sign for traders. However, the rise will be limited. The maximum price is projected to reach $1.067 in December 2021, and the minimum price won’t fall below $0.7039 (August 2021).
The website significantly revised the XRP outlook, lowering the previously expected maximum value above $2.20.
Coin Price Forecast
This website also anticipates an uptrend for the XRP/USD pair. According to Coin Price Forecast, the price may reach $0.83 by the end of the year. The forecast was recently adjusted. Previously, the platform expected XRP to surge to $5.
Crypto Ground
Crypto Ground’s Ripple forecast is not very promising, but there will be an upward movement. By 2022, the price is projected to reach $1.008.
Long Forecast
Below, you can see the Ripple coin price prediction by the Economy Forecast Agency. The source expects a downtrend. The price of the XRP/USD pair will experience fluctuations. By the end of the year, the price will close at $0.45.
Ripple, A Good Investment?
Regulatory tightening risks will be crucial for the crypto market in the coming year. Regulators are keen to maintain control over cash flows and will strongly resist the spread of cryptocurrencies. This factor’s influence may be even stronger than it was in 2017–2018. The impact of this factor may grow due to the active development of digital currencies by central banks. The expected growth of DeFi is another risk for Ripple.
Surprisingly, the coronavirus pandemic could support the virtual market. Given that there is no indication of an early end to the pandemic, the demand for cryptocurrency and XRP will likely remain high. If individuals were the dominant force in the market previously, institutions are expected to play a stronger role in 2021. Therefore, we will likely see a steady rise in the XRP coin next year, despite the recent rate drop due to the situation with the SEC.
April to June 2021 confirmed that the XRP/USD pair still exhibits major speculative characteristics. The pair continues to generate volume and volatility. XRP has shown it could triple its capacity and then lose almost everything, making it appealing for aggressive traders.
