For years, digital currencies continue to gain popularity among investors. Ripple, one of the top cryptos, aims to shake up the entire financial and cryptocurrency industry. It operates differently from other virtual coins. It seeks to speed up cross-border payments with minimal transaction fees. As a result, many banks and other financial institutions have embraced this cryptocurrency. Ripple allows people from different parts of the world to quickly and securely move large sums of money at low processing fees.
Due to its alliance with many global companies, Ripple is the new standard among several industries. Out of all the crypto assets, it possesses the highest long-term price potential. This article seeks to provide detailed information to answer the question, ‘How high will Ripple go in 2021.’ Without further ado, let us get started.
Factors affecting how high will Ripple go in 2021?
Due to its volatility, it is impossible to predict the exact future market value of any cryptocurrency. In turn, you can only look at the available market trends, developments, and future projects to understand the direction the crypto’s price will go.
In relation to Ripple, various factors influence its market price. Some of these factors include news affecting Ripple, new projects and developments, new partnerships, and previous prices of Ripple.
Luckily, Ripple is very active in updating its community and investors on any new developments or partnerships through its social media platforms. The company interacts actively with its investors, who also enjoy giving the company their feedback.
Like other cryptocurrencies, studying the previous price charts of XRP will furnish the investor with enough information on the crypto’s performance. By conducting a technical analysis of Ripple, you will likely obtain a price analysis of this cryptocurrency. In turn, this will assist in predicting future price movements.
What will Ripple be worth in 2021?
If you are wondering ‘how high will Ripple go in 2021,’ you are in the right place. XRP hit its all-time high in 2018 when its value was $3.40. At this point, many financial institutions and other investors knew of the platform. As a result, the digital currency gained immense recognition in the crypto community.
Soon after, the price of Ripple failed to appreciate. Since then, the value of this coin has been ranging between $0.115 and $0.768. The current trading price of XRP is $0.45276. XRP has been struggling to regains its former glory. However, by the end of 2020, its trading price was $0.50, as many crypto analysts had forecasted.
By the end of 2021, many crypto experts believe that it will reach the $1 mark. Thus, if you are looking for a cryptocurrency to invest in, Ripple is a good option. Its current price is relatively low, meaning investors will make significant profits by holding it for a long time.
Furthermore, Ripple is continuously forming new partnerships with major international companies in the financial industry. Similarly, many international banks and other financial institutions continue using the Ripple platform to transfer funds from one part of the globe to the other. Once its traders and investors barge in and invest in it, Ripple’s market cap and value will increase significantly.
Ripple/XRP price prediction for 2022-2025
Over the years, Ripple has built a global presence. Many banks and other international companies continue using the RippleNet and XRP tokens, which increases their value. Thus, future Ripple/XRP price predictions look promising.
Unfortunately, this cryptocurrency has experienced plenty of ups and downs since December 2020. Some cryptocurrency exchanges, like Coinbase, Crypto.com, and OKCoin, delisted the cryptocurrency after the lawsuit’s launch. In turn, this caused its trading value to drop to below $0.2.
However, the price rose by 80% when the company filed its defense against SEC allegations. But its liquidation brought the price back down to about $0.3. The price has not changed since then, making it not look like a good investment, according to the price charts.
Luckily, 2021 will intend to determine whether cryptocurrencies have a future or not. With many other digital currencies depending on bitcoin, the crypto community looks forward to bitcoin penetrating the traditional finance market. If this happens, other altcoins might also slip in through the cracks, alongside bitcoin.
In terms of Ripple/XRP, its price can go up to a dozen times if things remain as promising as they look and it attains some stability. If you wonder how high will Ripple go in 2021 and beyond, many crypto analysts maintain a positive outlook for this crypto.
According to Crypto Coin Society, the price of XRP could hit $2.50 in 2022. But, this depends on whether the government will create regulations for the cryptocurrency industry. If this happens, Ripple’s demand will skyrocket as it is more likely to adopt these regulations more seamlessly than any other cryptocurrency.
WalletInvestor, another cryptocurrency platform, forecasts that Ripple’s price could fall to $0.04, making it an unsuitable one-year investment. It could perform much better as a long-term investment as its price could rise to $2.32 by 2025.
After seeing how high will Ripple go in 2021, do you think Ripple is a good investment? The cryptocurrency market is quite dynamic, and future XRP price predictions are very encouraging. Thus, Ripple/XRP is a good long-term investment, especially for long-term investors. While more banks and other financial institutions are looking to increase their digital presence, Ripple can provide them with fast and secure solutions.
However, given the market’s volatility, it is challenging to provide a long-term estimate of any cryptocurrency, let alone a short-term forecast. Therefore, you should conduct thorough research before investing in any financial asset. Ensure you consider expert opinions, market trends, and technical analysis into account before making any investment move.