What is Ripple?
If you have ever heard of the cryptocurrency XRP, it is the one that is owned by Ripple. Bitcoin is dominating the interest and consumption in the crypto market, Ripple is one of them competing well against it. XRP is the fourth-largest cryptocurrency considering the market cap. We will be taking a detailed look at the Ripple price prediction for the next 10 years in this article.
Ripple is a platform that aims to facilitate cheap and quick transactions. The way Ripple is moving ahead, it could dominate international transactions. Through the asset exchange system of Ripple, the ‘IOU’ and ‘XRP’, transactions can happen at a much faster rate. Like around 1500 per second, at least according to the website of Ripple. But this will only be possible if there is more trust between the actors and users of the system.
The model of Ripple is not similar to the Proof of Work that Bitcoin uses. There must be a certain degree of trust because there is no payment for operating the network. Also, miners have no option to mine XRP, the token of Ripple.
In simple words, through IOU on Ripple, you will be able to transfer any financial asset around the world. These assets could be in the form of gold, oil, or even fiat currency. The IOU represents these assets, and they remain that value, for the duration of the transaction. You can receive and send IOU just like any other cryptocurrency token like XRP.
Who Created Ripple?
Did you know Ripple existed before even Bitcoin? Well, the name was Ripplepay back then. The Ripplepay platform was founded by Ryan Fugger, in 2004 in Vancouver. Although it did not use blockchain back then, the aim was the same. It wanted to help users transfer any asset around the world. In 2013, Ripple was forked by OpenCoin and the new company was renamed Ripple Labs. In 2015, the company shortened its name to just Ripple. Starting from 2016, Ripple has a BitLicense. It makes it possible for it to operate various cryptocurrencies in the country.
Ripple (XRP) Historical Price Analysis
The XRP cryptocurrency has been in the crypto market since February 2013. The first trade of the cryptocurrency happened on an exchange in August of that year. The initial price of XRP was $0.01.
Till the first half of 2017, the price of XRP was constant at $0.01. That year saw a high of $0.34 in May 2017, and then the prices slightly dipped to around $0.21 in November 2017. But towards December 2017, and the starting of 2018, the currency saw the biggest rally to date. At the highest point, XRP reached close to $3.5 in the first week of January 2018. It was also the time when many cryptocurrencies underwent a rally.
But just like any other rally, the price dipped drastically in the next month to close to $0.5. From then on, the overall curve of the currency has been declining although slowly. The price at the time of writing is $0.42. The highs over the last two-three years have been only around $0.5 – $0.6.
XRP Market Cap, Circulating Supply, and Total Supply
The market cap of XRP was high, almost three times higher than at the time of writing in November 2020. But right now, the average market cap of XRP is $19,080,767,713.
The circulating supply of XRP at the time of writing is 45,404,028,640 XRP coins. The maximum XRP coins is 100,000,000,000 XRP coins.
Ripple Price Today – Current Price
Ripple’s (XRP) price has been increasing over the past month (from January 2021). Overall, it gained close to 60% in this period. Although the week has not been so good for the price increase, the cryptocurrency is slowly gaining pace. The market volume in the last 24 hours is close to $6.4 billion.
XRP Ripple Price Prediction
The predictions of cryptocurrencies are based on several factors. But note that, these Ripple price predictions may turn out to be inaccurate because cryptocurrencies are volatile.
In 2020, Ripple announced the convergence into a particular stack that could bring in more institutional money to the cryptocurrency. It can drive prices up. However, let usconsider the predictions in timelines in the future:
Ripple XRP Price Prediction 2021
Courtesy of research by Moody, the standard and usage of Blockchain technology will increase throughout 2021. XRP, one of the biggest currencies that will probably undergo a lot of developments. If XRP gets into a lot of partnerships with corporations, the price will increase. Some experts predict the price of Ripple to reach $2 in 2021. But for this, keep an eye out for the developments with the Ripple community.
Ripple XRP Price Prediction 2023
According to people closely following the community, several partnerships are coming up with XRP. It will influence the Ripple price prediction. They might even gain collaborations from other domains as well. With this expansion, predict the prices to go up even further. But a humble prediction of XRP will be around $3 in 2023. It could also be a point when Ripple starts to become mainstream.
Ripple XRP Price Prediction 2025
The price of XRP might reach $5 in 2025. This is from the analysis of various algorithmic models. Ripple may even partner with American and Latin banks to promote the Ripple technology. These might again contribute to increases in price.
Ripple XRP Price Prediction 2030
In the long run, the Ripple price might increase according to the Ripple price prediction. It could be because of cryptocurrencies becoming mainstream. Some analysts predict Ripple even overpowering Bitcoin in terms of usage. Some analysts predict the price of Ripple XRP reaching close to $18 by 2030.
Is Ripple A Good Investment?
Although Ripple has issues with the SEC, analysts are optimistic about the investment of Ripple in 2021. XRP serves as a great bridge between conventional currencies and cryptocurrencies. XRP provides a seamless transition between these two financial asset forms.
Ripple is also affordable as of now. So, you will not lose much on a reasonable amount of investment on the Ripple coin. Ripple also solves a genuine problem in the crypto world, so you can be optimistic about its future usage. Note that the market cap of Ripple also makes it one of the biggest cryptocurrencies in the world. Ripple is a fully-fledged company, with a lot of employees who work relentlessly to keep the company running. It is not just another crypto startup.
But of course, there are some cons to Ripple as well. Some high-level ones are that Ripple is not decentralized. It has competition, and there will not be a new Ripple since it will not be mined.
How to Buy Ripple XRP – Step by Step Guide
The process is easy. Follow these simple steps.
- Set up an account at Coinbase. It is a popular exchange due to its high collection of cryptocurrencies and transaction features. You can buy XRP directly on the platform with the help of Bitcoin and other cryptocurrencies. You can buy Bitcoin and other currencies through fiat currencies as well.
- Once you have the Bitcoin on your Coinbase account, you can purchase the XRP tokens. Buy them by placing a trade. Once done, it will show up on your Coinbase account, and you can track its value on the dashboard.
Best Exchanges to Buy Ripple
Some of the top exchanges apart from Coinbase through which you can buy XRP coins, are given below.
For XRP Margin Trading, ByBit is the best.
Through Binance, you can use BTC to convert to XRP or from other cryptocurrencies.
On CEX.io, you can buy cryptocurrencies directly using a credit or a debit card.
You can use Bitstamp to buy XRP in Europe.
If you want to do a Peer to peer XRP trading, then try Paxful
How High Will XRP Go?
In the next decade, analysts predict the price of XRP may go to double digits, that is, more than $10. But it will depend on how the overall cryptocurrency market performs and develops in this period.
Will Ripple go Up Tomorrow?
Given the current rise from a month, it may increase according to popular Ripple price prediction analyses. But note that cryptocurrencies are highly volatile, so the price may vary during different times of the day too.
Will Ripple Reach $1000?
Not anytime soon according to our Ripple price prediction. The prices of XRP are still in the range of $0.4. So, it will take a long time and some events for XRP to reach $1000 anytime soon.
Is Ripple Better Than Bitcoin?
Some crypto enthusiasts believe the Ripple product is better than Bitcoin and more useful. But at this time, the interest and usage of Bitcoin are higher. If Ripple manages to gain the interest of the masses through its promising product, it may defeat Bitcoin quite soon.
Takeaways – Ripple Price Prediction
Ripple XRP is one of the most promising crypto companies out there. Go through their work, portfolio, and interact with their community. Check their website at ripple.com. Follow the community on Twitter at @Ripple.
If you’re interested in reading how other Crypto prices are going to move in the next 10 years and want to take advantage of maximum profits, I recommend reading other price predictions
- Ethereum Price Prediction
- Cardano Price Prediction
- NEM Price Prediction
- Tezos Price Prediction
- Dogecoin Price Prediction
- Litecoin Price Prediction
- Polkadot Price Prediction
- Stellar Price Prediction
I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates