When the time comes for many crypto traders to invest in a crypto asset, there is usually a conflict of thoughts in deciding which coin to invest in. Especially for traders who do not have any form of emotional attachment to a particular coin. Thus, it becomes imperative to assess the future performance of a coin and estimate its Return on Investment. Today, we will consider Ripple (XRP) price, and how it’s supposed to change in 2020 and on.
In this article, we will be looking at:
- XRP price and what it depends on
- Ripple (XRP) price predictions, both in 2020 and for the long term
- Where to buy XRP
What is Ripple?
Ripple is a blockchain-based gross settlement system and remittance network built for enterprise use by Ripple Labs in 2012. The objective behind the development of Ripple is providing financial solutions by enabling secure and fast global financial transactions at a reduced cost.
What Drives the price of XRP?
The price of XRP is determined by the activities of the holders and the volume of transactions within the XRP ecosystem. In 2013, the Ripple protocol was adopted by a number of financial institutions to offer alternative remittance options to customers. In 2018, over 100 banks had already signed up on the platform, no wonder XRP attained its All-Time High around this period trading at $3.40.
Ripple Price Prediction
In recent Ripple news published by Coindesk, a Thai based remittance platform, Dee-money have started using Ripple’s blockchain technology to process international payments.
This implies that more financial institutions adopt XRP as an alternative payment option especially during this time of global economic unrest. At the time of this writing, XRP trades at $0.17 XRP/USD. The adoption of Ripple is capable of rising the price of XRP significantly.
Comparing different analysts’ views, we can have a base point of what the future price of XRP looks like:
- Longforecast. This forecaster is bearish on XRP, suggesting that in 2020, the average price of XRP will go down to 0.11 XRP/USD by December and in 2022, it will drop significantly to about $0.03.
- WalletInvestor. This service’s forecast is quite bullish on XRP, especially in the long run. The forecaster believes that in June 2020, the price of XRP will be $0.06, in June 2021 $0.01. The average price in March 2025 will drop to $0.005.
- TradingBeasts’ price prediction for 2020 and beyond – according to this platform’s analysis, in 2020, the price of XRP will not change a lot and on average will be $0.18. However, in 2022, the rate may grow to reach $0.29 XRP/USD.
A larger percentage of forecasters and analysts are quite bullish on XRP, most of them predicting a significant increase in the value of the coin in years to come.
Where to Buy XRP?
Ripple coin (XRP) is one of the top cryptocurrencies on Coinmarketcap. It ranks third with the highest value of market capitalization after BTC and ETH. Virtually all major cryptocurrency exchanges make provision to trade XRP just as they do for BTC and ETH. The most reliable exchange to buy XRP from is ChangeNOW. We offer you a fast, secure and seamless transaction with the option to make payments with either Visa or Mastercard.
To buy XRP on ChangeNOW:
- Go to ChangeNOW main page.
- Set the amount of the funds you would like to exchange. In the field below this, select XRP.
- The system automatically calculates the units of XRP you are getting from the transaction. Currently, 0.01 BTC equals to 355.9360163 XRP.
- Click the “Exchange” button.
- In the space provided, put in your XRP designated wallet address.
- Double-check that the information provided is correct, then click confirm.
- After this, send your funds to the generated address you see on the screen.
We hope this guide has helped you in your considerations on whether to invest in XRP. To learn more about Ripple (XRP), please visit the following Ripple Review in our blog.