Ripple has a special position in the cryptocurrency market. It has great long-term prospects and potential. Many experts consider it a very good tool for long-term investment.
What is Ripple (XRP)
RippleNet has been around since 2012. Unlike Bitcoin, Ripple initially sets different goals for itself. It does not seek to replace the existing banking system by using its technical ability to improve its performance.
RippleNet offers high transaction processing speed, security, and low fees. This is exactly what the classical banking system is really sorely lacking.
In the future, Ripple may indeed become a new standard for international bank transfers, pushing back SWIFT, Western Union, MoneyGram, and other existing payment systems.
Ripple is the only viable project targeting large financial institutions so far. And it gives the foundation of a coin one of the most viable in the long run.
The Ripple token did not have much weight in the market until 2018 when it gained acceptance. The price of the coin rose, setting new historical records until the company started having problems in the form of an SEC lawsuit. Against the backdrop of the lawsuit, the price fell sharply. The delisting contributed to the further fall in the price to the level of about $ 0.8. However, Ripple won the case, the coin began to rise again, but has not yet reached its all-time high.
The key factors affecting the price of a cryptocurrency are generally the same for all digital coins:
- Regulation. As long as the main market players are in the coin and accept it, the price will rise. The government of at least one influential country considers it necessary to ban the coin, the market will immediately react with a drop in price.
- Digitalization of the financial sector. Classic bank transfers are expensive and slow, which is why banks themselves recognize the need for transformation. Ripple offers a ready-made technical solution.
- Offer. The number of coins is limited. This means that long-term growth potential was originally embedded in the coin.
- Demand. The more actively an asset is bought, the higher its price.
Ripple XRP price in 2021
2021 has been a challenging year for Ripple. However, the coin holds the position and is currently trading in the $ 1.05-1.2 range. Most likely, the price will not go beyond this range by the end of the year.
Long-term outlook for XRP
In the near future, the coin may not be the most attractive asset for traders, who are now more interested in DOGE to BTC exchange. Slow stable prices are expected in the long term and this is a good outlook for investors.
Ripple XRP Price Prediction for 2022
The price is expected to move in a narrow range around $ 1 at the beginning of the year. In April-May, growth to $ 1.50 is possible, followed by a fall to the current level. Over the summer and fall, the coin may recover and will likely end the year at around $ 1.50.
Ripple XRP Price Prediction for 2023
In 2023, it is expected to rise to $ 1.7, with a subsequent increase over the $ 2 mark. By the end of the year, it is quite possible to reach the level of about $ 2.5 per XRP.
Ripple XRP Price Prediction for 2024-2025
It is rather difficult to make forecasts for such a distant future. Still, a realistic Ripple XRP price prediction looks pretty attractive. It is expected to rise to $ 3 during 2023, with a new target of $ 4. During this period, the likely achievement of new historical highs.
Where to buy Ripple
XRP can now be bought on most major platforms. You can choose between classic exchanges and fast cryptocurrency exchange platforms.