23 Oct, 2018 at 20:53pm
Ripple has been one of the outstanding cryptocurrencies so far this year despite the massive drop in price. The cryptocurrency coming into the limelight has led to many analysts and market experts making XRP price predictions in 2018.
It is worthy to look at the expected price for the cryptocurrency this year and beyond.
If 2017 is described as the year that cryptocurrencies recorded massive gains and gaining popularity, then 2018 is the year for massive adoption of cryptocurrencies. The bear market has affected the prices of the entire cryptocurrency market since the start of the year, with the prices of Bitcoin and others dropping by more than 50% over the past few months.
Ripple has personally lost roughly 80 percent of its value since January. However, the project has become popular with financial service firms. The cryptocurrency is expected to affect the banking industry and bring positive change to the space.
The payment processing cryptocurrency is looking to challenge and eventually overtake SWIFT as the incumbent system serving banks. Banks such as UBS, Agricole, and a whole host of others all over the world have begun making use of Ripple’s technology as it makes cross-border payments cheaper, faster, and easier.
The ongoing Ripple Swell event has led to more revelation that the cryptocurrency is being used by more financial companies like Santander, which is a testament that the cryptocurrency would play a huge role in the global financial landscape for years to come.
XRP has had quite a price movement over the past few months. At the start of the year, Ripple was able to reach its all-time high of $3.8 but has since then declined and is now trading at $0.57
The massive drop in XRP price occurred as the general market suffered. Despite this, several research firms and market analysts have given their opinion on the price of the third largest cryptocurrency this year.
Nigel Green, founder and CEO of financial consultancy deVere Group, is of the view that XRP would end the year trading at $1 or above. This is in contrast to what researchers at Stratis Group believe. According to Green, the momentum surrounding XRP and its practical usefulness are key factors that would go a long way in pushing the price higher. If this prediction is to come true, then Ripple would have to surge by more than 50 percent from its current price.
After making this prediction, some market experts like Marouane Garçon agreed with the assessment. The recent rise of the price to reach $0.75 prior to the release of xRapid is an indication that the cryptocurrency could end the year on a high.
The analysts stated that Ripple is creating the customer base for its token and this has led to unwavering confidence amongst the traders and investors of this cryptocurrency.
He believes that if Ripple’s partners start utilizing XRP for their day to day operations before the end of the year then $1 is a modest price point. From here on out, it depends on developments and usage. They’ve made promises that some of their partners will use XRP and once people see that happening they will have gained unwavering confidence and that will certainly be reflected in the price.
Chris Kline, co-founder and COO of Bitcoin IRA, also agree with the point that XRP could end the year trading around the $1 mark. He believes the token could rally if Google's and Facebook's recent reversals on crypto advertising bans lead to a year-end value surge.
Joe DiPasquale, CEO of BitBull Capital, believes XRP would rise by the end of the year, however, he doesn’t see it being a massive rise. He believes that XRP would end the year trading between $0.80 and $0.90. Unless something big happens with the project, he doesn’t see Ripple trading beyond that range by the end of the year.
Mati Greenspan, an analyst with eToro, shares that sentiment as he believes it would be very difficult for XRP to attain the $1 mark by the end of the year.
This popular site which covers all news on Ripple is of the belief that 2018 would end up being a great year for the cryptocurrency. According to them, the numerous partnerships, technologies and some strong performances could see the cryptocurrency end the year close to the $10 mark. This prediction is very bold as most analysts expect XRP to reach that price in a few years, not in a few months.
The UK-based tabloid newspaper predicted that XRP could skyrocket before the end of the year. They are quite bullish as they expect it to reach $5.06 by December 31st, 2018.
This cryptocurrency research company is of the view that Ripple should move its services beyond banks and also target regular consumers. That move will set the tone for XRP to surge to $10 by the end of the year, the research firm added.
The firm added that the success of the cryptocurrency this year would be dependent on how many banks make use of Ripple’s technologies and products.
ICO advisory service and research firm Stratis Group is of the view that Ripple would witness a further drop in price over the next three months. The research firm is very bearish on the price of the cryptocurrency, which they believe would end the year lower than its current price of $0.57.
The analysis presented by Stratis Group is rather devastating for the bright project being embarked on by Garlinghouse and his team of developers. The research publication was not bullish on the price of XRP as it believes the cryptocurrency would continue to drop until it reaches $0.01 over the next few years.
The Economy Forecast Agency is of the view that XRP could drop further from its current price, pointing out that technology partnerships are not fulfilling their promises. This means that the company considers Ripple’s products not that useful and thinks that banks will come to stop using them.
Their prediction puts Ripple's price at $0.32 by December 31st, 2018, which would represent a 54% fall from its current price of $0.57
This newspaper, also based in the UK, has a bearish outlook for XRP. They see it dropping to $0.22 by the end of the year. The newspaper argued that Bitcoin’s continued dominance of the market will not allow Ripple or other altcoins to record massive gains this year. In fact, Bitcoin’s dominance will push the price of Ripple downwards.
The prediction of the cryptocurrencies price over the next two years is mostly bullish by market experts and some analysts. With the wide adoption of the cryptocurrency by banks and financial institutions, there are expectations that XRP could hit $20 by the year 2020.
Considering the fact that Ripple can replace the outdated SWIFT system and is, now, already in the top three cryptocurrencies, $10 is a fair Ripple (XRP) price prediction for 2020. Experts from fxstreet, express.co.uk and investingpr all believe that buying Ripple at its current price is a great idea as they see it recording massive gains over the next two years.
Stratis group doesn’t seem to agree with that. The research firm believes that Ripple will continue to drop over the years. The cryptocurrency would trade below the $0.01 mark by 2020, the company stated in its recent research paper.
The long-term prediction of XRP is not something that market analysts and experts have looked into.
However, Stratis Group is of the view that Ripple will continue to lose its value until it reaches $0.002 by 2025. The research firm doesn’t see any bright future for the coin as they believe that the token is not very useful to the Ripple products that are being released for banks and other financial companies.
Wallet investors, on the other hand, think that Ripple would reach $22 by 2025, despite its current price.
Ripple has received mixed price predictions from market experts, investors and analysts. There is one thing that virtually all of them agree with, which is the fact that XRP price prediction depends on a myriad of factors.
Some of those factors included the integration of the system into banks, the market cap of the currency, the quality of updates and technical development, along with the readiness of people to invest.
The XRP price prediction in 2018, or any other year for that matter, is a very tricky question, but it is something that is worth considering if you are going to invest in the project.
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