Home - Crypto Jar

Reading time - 6 min. Ranked by CoinMarketCap from June 9, 2022, XRP token takes 7-e place by market capitalization — over $19 billion. The asset is a digital currency operating on the RippleNet fast digital payment platform. The main goal of XRP development — the possibility of conducting financial transactions in real time and reducing the commissionth for translations. What Ripple XRP price forecast in 2022 and how much will the demand for the token increase? Read the details in our article. Ripple - the cryptocurrency of the future? Ripple Labs is a fintech company that developed the unique payment network Ripple Network. It brings together corporations, banking institutions, as well as transaction providers. RippleNet is used to conduct various financial transactions, such as fast interbank settlements or international payments. The features of the Ripple network are: The functioning of the network on the Ripple Transaction Protocol. In it, consensus is reached with the help of a validator, that is, a node that has more weight in the digital architecture of the network. High transaction execution speed - about 4 seconds. Minimum commission. When transferring funds, you need to pay 0.00001 XRP. Interestingly, with DDoS attacks, the commission increases. This is a kind of protection against theft. Scalability. 1.5 thousand transactions take place in the network per second, which is one of the highest rates on the market. Due to its characteristics, XRP is a promising digital asset for investors. However, before buying coins for all savings, it is worth considering that since the end of 2020, the company has been involved in litigation with the US Securities and Exchange Commission. The latter accused Ripple Labs of trading $1.3 billion worth of securities that were not registered. The legal investigation against the company does not stop to this day and negatively affects its ratings. However, Ripple does not give up. She has already redeemed part of her shares and plans to go public. But this will become possible only after the end of the proceedings with the SEC. According to Brad Garlinghouse, CEO of Ripple Labs, the possible completion of litigation will occur by the end of 2022. Additionally, Ripple is looking for profitable partnerships and expanding the RippleNet customer base. In the report for the fourth quarter of 2021, it was stated: "2021 was the most successful and profitable year for RippleNet due to a sharp increase in dynamics due to customer demand. And this despite obstacles from the SEC". How has the value of XRP grown? In 2014, the Ripple protocol was launched, and until 2017, the cost of the XRP token did not exceed 50 cents. The price increase occurred in February 2017 after signing a contract with the UAE National Bank. The historical maximum value was recorded in early January 2018 - XRP exceeded the $3 mark. This was followed by a rapid decline, which lasted until the end of 2019. XRP price from 2014 to 2022. Source — CoinMarketCap The start of the SEC investigation in December 2020 had a negative impact on token trading - user confidence has decreased. The price of XRP was also negatively affected by the suspension of its trading on some exchanges, in particular, Coinbase. However, the token is quite susceptible to global changes in the cryptocurrency market. In the middle of spring 2021, against the background of the general growth of digital currencies, the value of XRP rose to almost $2. It was the first major increase since 2018. Then came the May sale, and in the middle of summer the price of the token fell to just over 50 cents. Further growth of Ripple is also driven by market influence. By September, the token rose to $1.41, and after that it fell to $0.83. Another growth spurt occurred in November - XRP reached $1.28. After that, the cryptocurrency only lost in price. XRP Predictions for 2022-2023 The fall in the value of XRP in recent months has many investors wondering whether to add it to their cryptocurrency portfolio. According to CoinMarketCap data from June 10, the charts show a daily decrease in the value of the coin by 0.40%, which hovered around $0.4. Ripple price predictions by the end of 2022, they differ slightly from industry experts: The information and analytical platform Wallet Investor issues the following cost options: from a minimum value of about $1 to a maximum of $1.63. The planned average price of XRP is $1.32. The Coin Price Forecast portal offers another XRP-forecastaccording to which by the end of the year the cost of the token will cross the dollar line and show $1.05. Analytical platform Trading Beast predicts XRP growth in the range of $0.84-$1.24. DigitalCoin expects an average token price of $0.55. According to all presented ripple price forecasts, by the end of 2022, the token will not be able to overcome the high of last year at $1.96. How much will XRP cost in each month of 2022 is presented in the table below. Estimated withXRP price at the end of each month in 2022. Source — Traders Union It should be noted that the analytical forecast of many services until 2030 shows a slight deviation of the XRP rate from today. A more optimistic future for the cryptocurrency is predicted by the Gov Capital platform: May 2023 - $1,059; May 2025 - $2,981; May 2027 - $5.22 The Wallet Investor service expects XRP to rise to $2.19 on average by early 2025. According to the most optimistic forecast, the value of the currency will rise to $2.72. And by the end of 2025, the price of Ripple may fluctuate between $1.83-$3.37. It should be understood that no forecast can give reliable information about how much will an XRP coin cost. The cryptocurrency market is characterized by high volatility, and it is almost impossible to accurately predict its development. It is very important to study the chosen asset on your own, using various tools, for example, a cryptocurrency screener. In this case, it is possible to create a personal XRP price forecast for todayin order to acquire an asset on time at a favorable price. Prospects for XRP The technical features of the Ripple cryptocurrency and the company's active cooperation with international financial organizations speak of great prospects for XRP. For example, in March, National Australia Bank (Australia) and Canada Imperial Bank of Commerce (Canada) began using the RippleNet platform. In May, information appeared about a partnership with the FINCI provider of international money payments from Lithuania. Some experts believe that over time, Ripple will be able to force Western Union and SWIFT out of the financial transactions market with their high commissions for transfers. Already, the RippleNet platform offers favorable conditions for financial companies that use it to make payments. Obviously, if the company's case for interacting with serious financial structures expands, then the value of XRP will increase. Of course, you should not expect numbers like Bitcoin - after all, the Ripple project was originally imprisoned for financial payments. Also, news about the emergence of new technologies in serious banks and investment companies has a positive effect on the price of Ripple. But XRP growth prospect decreases each time due to the news of the proceedings with the US Securities and Exchange Commission (SEC). And if Garlinghouse is confident in the imminent end of the investigation, then Joseph Hall, a former SEC official, does not share his optimism. However, despite predicting the duration of the lawsuit, Hall sees a fairly high chance of Ripple winning. Sources: Capital.com, Tradersunion.com, CoinMarketCap, ForkLog Disclaimer. Investing in any financial asset carries the risk of losing capital. Nothing in this text can be considered an investment recommendation or an offer to buy/sell any financial instruments. For all their actions in the stock market, each investor bears full responsibility independently. Subscribe If you find an error, please select a piece of text and press Ctrl+Enter.

Recent Posts