Where is Ripple’s XRP Cryptocurrency Headed? – A Glimpse into the Future of the Digital Asset
Despite the market currently undergoing a fresh wave of bearish pressure, numerous industry specialists remain quite optimistic about the crypto sector regaining its previous all-time-highs in the foreseeable future. In this context, it’s worth noting that Ripple’s XRP token offers the global investor community an ROI that is considerably larger in comparison to other leading crypto assets like Bitcoin. This is evident, as at XRP’s present valuation of $0.25, an elevation to $3.30 would imply a profit surge of over tenfold.
In this article, we will examine the perspectives of various specialists and analysts who have been engaged in this field for a considerable duration. However, before diving into that, let’s explore some of the factors contributing to XRP’s popularity over recent years:
What Contributes to Ripple’s XRP Strong Following?
(i) Institutional Adoption:
As many of our frequent readers likely know, the Ripple ecosystem delivers the finance sector a platform that resolves many of the challenges associated with cross-border transactions. Some of these challenges comprise:
Extremely sluggish processing times: While Paypal necessitates between 2-4 days to execute international transfers, XRP enables monetary exchanges (be it local or global) within minutes.
Transaction Expenses: Traditional payment processors charge between 3%-5% of the total amount transferred as processing fees. In this regard, XRP transactions are merely a fraction of what individuals typically incur when employing traditional payment methods (like ApplePay, SWIFT, Paypal, etc).
Unpredictability: Ripple enhances the reliability and efficiency of cross-border payments (especially for large financial players) by utilizing a decentralized ledger that provides extensive transparency.
Finally, it’s noteworthy that over 100 financial institutions have collaborated with Ripple (and are currently utilizing the company’s blockchain solutions and technologies). For instance, earlier this year, Ripple established a partnership with BankDhofar, a bank based in Oman, to facilitate its monetary transactions in the most cost-effective and seamless manner possible. Similarly, in the past, Ripple has engaged with other prominent financial entities such as Banco Santander and Moneygram.
(ii) Major Partnerships:
Throughout the past few years, Ripple has formed partnerships with several firms that have instilled optimism among investors regarding XRP’s pricing. To begin with, Ripple recently allied with Flutterwave — a blockchain company aiming to bridge the disconnect between the African market and the broader global economy. In a similar vein, Ripple also entered into a contract with Moneynetint — an e-money company located in the United Kingdom — to assist the payments processor in managing its numerous large-scale financial transactions (solely for corporate clients).
(iii) Rapid Transaction Speeds:
Historically, Visa held the title of the fastest payment processor globally. However, this has changed recently since Ripple has outpaced the multinational giant, demonstrating processing speeds of up to 50,000 transactions per second — a figure substantially higher (almost double) than Visa’s offering (24,000 TPS).
What is the Crypto Community’s Stance on XRP’s Future?
Edith Muthoni — Pessimistic Short-term Outlook
Edith serves as the Chief Editor at LearnBonds.com, a personal investment community with over 100,000 monthly readers. She perceives XRP as one of the year’s most disappointing coins. Since late 2018, the digital currency has followed a bearish trajectory, which she considers its lowest points. She further notes that even though the technology offered by Ripple is highly promising, this potential has not translated into XRP’s performance. In a communication to MasterTheCrypto, Muthoni elaborated:
“In the past 2 to 3 months, the coin has exhibited subtle signs of a bullish trend forming against Bitcoin. Therefore, I won’t dismiss it just yet – although I wouldn’t advise anyone to invest at the moment. In the long term, nothing about the coin or its blockchain technology suggests significant price increases. I believe that if it does enter a bullish phase, it will occur so abruptly that it will catch most investors and regular traders off guard.”
Ryan Selkis — Positive about Mid-to-Long Term Outlook
Ryan Selkis — the Founder and CEO of Messari — holds an optimistic perspective regarding Ripple’s future, primarily because he contends that the crypto platform offers companies an innovative protocol that is both user-friendly and aids in streamlining payments worldwide. Consequently, Selkis is hopeful that the leading digital token will regain its previous all-time high in about a year.
Peter Brandt — Ongoing Price Fluctuations
The Factor LLC CEO is distinguished for supporting his forecasts with robust statistics. In this context, when queried about XRP’s future, Brandt remarked that XRP was showing signs of contracting (even while exhibiting strong fundamentals). He believes this is largely due to Ripple manipulating the greater market — a factor he predicts will result in XRP declining by another 20% before the conclusion of 2019.
InvestingHaven — $20 by the close of 2020
InvestingHaven is an analytical website that provides its readers with detailed evaluations and price forecasts of various digital assets. In this context, the media outlet asserts that by the end of 2019, XRP could potentially attain a price of $20 — a forecast that is likely to be inaccurate, especially considering that the currency’s present valuation is around $0.247.
Exante — $0.5 in the Next 3-4 Months
In a virtual discussion with Master The Crypto, the analysis team at Exante conveyed that Ripple (XRP) has built a reputation as one of the premier blockchain ecosystems for banks and comparable financial institutions for a significant period. Consequently, the company is positioned to bridge the gap between the traditional finance sector and the crypto market. Additionally, the analysts at Exante believe that as we advance, Ripple may become a blockchain ‘channel’ for fiat and varied crypto transactions.
“The XRP value in 2019 is remarkably stable compared to other
major tokens. It persisted within the $0.24-$0.48 interval (doubling the degree of fluctuation), whereas the ETH and BTC values fluctuated threefold and fourfold, respectively. XRP is currently experiencing a downturn, albeit with moderate fluctuations. In September, it declined by 7% while the overall cryptocurrency market contracted by 15%. Stable pricing is a crucial indicator for numerous investors (particularly institutions), so in the long term, they may exhibit more interest in XRP over BTC. In the future, this stability aspect could elevate XRP values beyond traditional cryptocurrencies. Anticipating asset values in the unpredictable crypto market is a formidable challenge. Consider the Bakkt trading commencement as a case in point. Therefore, I project that XRP will stay in the $0.2-$0.3 range for the following weeks, with a potential rise above $0.5 by year’s end.”Exante is a European investment firm that offers its clientele an online trading platform granting access to over 50 global markets. In 2012, the company established the world’s inaugural cryptocurrency hedge fund, Bitcoin Fund. Exante is regulated by European authorities MFSA and CySEC.
Naeem Aslam — Optimistic Short-Term Valuation
Naeem Aslam is a highly regarded crypto analyst who recently expressed his thoughts on the anticipated value of XRP in the near future. He asserts that XRP is significantly undervalued at present, and thus it would be prudent to invest a portion of one’s savings in this leading digital asset.
Phil Nunn — Strong Long-Term Perspective
Phillip Nunn serves as the CEO of Wealth Chain Capital & The Blackmore Group. He believes that Ripple’s XRP token will maintain a substantial role within the global cryptocurrency ecosystem. Even though he did not specify a precise figure regarding where the digital asset will be headed in the coming years, he indicated that XRP’s future appears promising and that Ripple holds a significance in the current global technology landscape comparable to that of Microsoft during the ’90s and early 2000s.
Daniel Ameduri — Favorable Mid-to-Long Term Perspective
Daniel Ameduri is the co-founder of Future Money Trends and the author of Don’t Save for Retirement: A Millennial’s Guide to Financial Freedom. He recently informed Master The Crypto that due to the utility of XRP in enabling fast, low-cost currency exchanges (which can occur on average 4 times per second), many individuals worldwide are beginning to reduce their reliance on the US dollar and are transitioning to cryptocurrency. Ameduri further commented:
“As XRP gains adoption by banks like PNC, Santander, Standard Chartered, and others, we will witness momentum amplifying, which will provide XRP with solid fundamentals for increased pricing in the future. I anticipate that the overall cryptocurrency market will be on a long-term upward trend as I am a supporter of blockchain technology. XRP is among the most respected top crypto assets, and as Bitcoin rises, I fully expect the increasing tide to manifest in higher prices for XRP. I predict that in 5 years, we will encounter new all-time highs. Currently, XRP sits at $0.25, with its ATH at $3.84; clearly, I hold a very optimistic view on XRP’s future. However, we will require Bitcoin to restore confidence on the upside to ultimately witness a momentum build-up.”
LongForecast — Between $0.1 – $0.2 until 2021
Another well-known website recognized for its meticulously researched price forecasts. Regarding XRP, the research team at LongForecast believes that this third-largest cryptocurrency by total market capitalization will persist in fluctuating within the $0.1 and $0.2 value range (at least until mid-2021). However, in the long term (i.e., by 2023), XRP’s price may once again rise and approach a value of around $0.49 per token.
OracleTimes — $5 by December 2019
The popular cryptocurrency media outlet recently published an article in which their research team indicated that they envision the price of XRP climbing to approximately $5 by the year’s end. However, since the beginning of 2019, Ripple’s flagship digital currency has declined by over 10%, leading many experts to feel quite pessimistic regarding XRP’s future financial prospects.
Roman Guelfi — Reasonable Short-Term Perspective
Reputable crypto analyst Roman Guelfi believes that 2019 will prove to be a favorable year for XRP — particularly because Ripple has recently onboarded several prominent projects (along with other blockchain/crypto-related companies) to enhance its mainstream credibility. And while Guelfi did not provide a precise price forecast to substantiate his claims, he added that by late 2019, XRP might compel other established crypto assets to “take a backseat.”
UsLifted — Approximately $23 by late-2020
Crypto prediction platform ‘UsLifted’ asserts that within the next 16 months, the price of a single XRP token could soar to an astounding $22.79 (based on a circulating supply of 38,739,145,924 XRP).
Lance Morginn — 100 to 500% Increase In Utilization
Lance Morginn, President of Blockchain Intelligence Group (BIG), a Vancouver-based blockchain-agnostic search and analytics intelligence firm collaborating directly with financial services, ATMs, exchanges, and banks, shared insights regarding the XRP price forecast.
I believe that XRP possesses substantial potential and could therefore experience significant growth in the upcoming years. In the next 6 months, I anticipate that we could witness a 100 to 500% increase, and in the long term, it may yield a considerably larger uptick based on today’s valuation. When questioned about his perspective on XRP as a currency from a financial standpoint, he noted that I expect we will see more firms like SBI adopting the Ripple network. By the end of March this year, they had connected 13 banks to their blockchain payment application.
Ultimately, in the long term, we will likely have only a handful of cryptocurrencies, and I believe XRP has a shot at being among them.
XRP Coin Predictions In Conclusion
Following a tumultuous 2018, XRP’s performance throughout the last few months appears to have somewhat stabilized. Nevertheless, when examining the currency’s fundamentals, many experts are optimistic that significant opportunities lie ahead for XRP. To begin with, Ripple has recently forged partnerships with several established companies and ventures — a development that has instilled considerable investor confidence in the market.
That being said, it should be noted that any of the insights/opinions from experts presented above should be considered as informational guidance rather than definitive investment advice. For those contemplating substantial investments in this market, it is advisable to conduct thorough research and consult with a few financial advisors who have been active in this evolving domain for several years.
Be the first to comment