XRP Price Prediction: Analysis
XRP is the currency that powers the RippleNet digital payments network. It officially entered the market in 2012, with an approximate price of $0.005. The coin reached its all-time high price of $3,400 on January 7, 2022, before it fell heavily to close the year at $0.361.
How to buy Ripple
If you want to buy Ripple cryptocurrency at a good price, then you can do this on various exchanges or exchangers, including Matbea.com. Just remember to do your research and never invest more money than you can afford to lose.
Fast forward to 2022, XRP hasn't had a smooth ride either. The coin started the year at $0.21 in early January before rising to $0.65 on February 1st. Then it closed the month of February at $0.41. In March, XRP showed slight growth and closed at $0.57. The first half of March seemed to be good for the XRP coin.
XRP price forecast for the coming days:
XRP started in April at $0.57, and by April 15 it was already $1.73. As of this writing, the XRP coin appears to be under pressure after hitting its yearly high of $1.96 in mid-April. This XRP price forecast may not show the exact price for tomorrow, but users should take into account factors that may affect its performance. Since April 18, the price of XRP has fallen significantly, perhaps because the market was focused on the SEC lawsuit in which the regulator accused Ripple of harassing it.
In a recent Bloomberg report, the SEC vowed to continue the litigation under new Chairman Gary Gensler. According to the report, the agency asked the judge overseeing the Ripple case to reject the crypto company's request for internal communications documents. This event could have an impact on the recent price of XRP.
According to Walletinvestor, below are the reversal, resistance and support levels that traders should keep in mind when trading XRP.
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- Resistance level (R3): 1.509;
- Resistance level (R2): 1.350;
- Resistance level (R1): 1.260;
- Pivot point: 1.101;
- Support level (S1): 1.011;
- Support level (S2): 0.852;
- Support level (S3): 0.762.
Ripple Long Term Forecast
XRP Forecast
Positive scenario
At the beginning of 2022, the Japanese Internet giant GMO, operator of the GMO Coin crypto exchange, published the results of its survey, which was conducted from January 30 to February 20, 2022 (during this period, the Ripple rate fluctuated around $0.31).
10,964 people took part in the survey. Approximately 50% of respondents were confident that the XRP rate will rise in 2022. Of course, such surveys are not an expert assessment and do not in themselves guarantee an increase in the value of XRP, and therefore should not be taken as a favorable forecast for Ripple, however, they fully reflect the sentiments of cryptocurrency market participants.
A few months later, the expectations of bullish forecast participants came true - at the end of June, the price of XRP rose above $0.45, and at the moment reached $0.5. However, then, until the end of the year, the token rate steadily decreased, and the bottom was found only at $0.18. Thus, in the long term, the forecast was wrong.
According to analysts from the independent rating agency Weiss Ratings, Ripple has a pretty bright future.
“If it (XRP) manages to reduce SWIFT's market share or even replace it in some areas, then there is a possibility that XRP will become the number one cryptocurrency as a result.”
Weiss Ratings forecast
Based on this, some Internet analysts even made forecasts for Ripple to grow to $150, $250 or even $500 within a year, but at the moment such statements look completely frivolous.
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2019 for XRP ended at the bottom ($0.18), where the token last hit in the fall of 2017.
We recommend our video review on YoTube with details of the above-mentioned Ripple price forecasts:
Optimistic Ripple forecast
Do not also forget that there is also a negative forecast for Ripple. Thus, the Walletinvestor.com service gives a negative long-term forecast for XRP for the current year and the coming years, predicting only a certain, small and short-term surge in price in 2022.
Negative forecast for Ripple from Walletinvestor
If we rely on the two-year chart of the Ripple price, we can clearly see that after a long fall since the beginning of 2022, the price of XRP has found some dynamic balance and stability, which may become the basis for a positive outlook for Ripple.
XRP Market Stability
According to some analysts, such as Anka Faget, this situation could persist through 2022 or even longer. At the same time, it is worth considering the close connection with the successes of Bitcoin and the cryptocurrency market as a whole, which most altcoins demonstrate.
In the chart below you can see that the global trends of growth and decline of Ripple one way or another repeated similar trends for BTC, however, since the spring of 2019, something went wrong - XRP did not even try to repeat the growth cycle of the main cryptocurrency.
Bitcoin growth
If the cryptocurrency market goes up globally, XRP, which is a popular means of payment and a potential alternative to SWIFT, will have very good growth prospects.
You can learn more about the secrets of XRP from this video:
Secrets of the XRP cryptocurrency
Development
The latest development on the Ripple network that could impact the price of XRP is the ongoing battle between the crypto company and the Securities and Exchange Commission (SEC). The Ripple team insists that XRP is not security. Ripple recently moved through its lawyers to dismiss the case, arguing that no portion of the XRP sales indicated it was purchased as collateral or an investment.
Pressure is growing around this case and it could impact the price of XRP in the coming days. However, at the same time, some crypto enthusiasts in Hong Kong have identified XRP as one of the cryptocurrencies that will help them make payments easier during the pandemic.
As the lockdown continues in different parts of the globe, more users, especially small and medium enterprises, may be interested in XRP to help them make crypto payments easier. If this happens, it can increase the value of the coin and possibly increase its price.
Other analysts also believe that XRP will soon experience a massive surge towards a new ATH. A new tweet from a prominent crypto trader and analyst states that XRP is currently approaching a downward correction towards the support of the 0.68 Fibonacci retracement, which is likely to trigger a possible rebound.
What affects the Ripple rate?
In addition to the usual market collapse for cryptoeconomics, which inevitably follows a sharp rise (the reason for this is speculators who are in a hurry to take profits and dump assets that have risen in price), there is another factor hindering the development of Ripple. According to experts from the resource Cryptoprognoz.ru, the company’s management made a mistake when they hired Corey Johnson as a strategist. His statement about the predominance of speculators among Ripple holders in relation to investors instantly caused panic and the subsequent fall of XMR. This was a very careless and unforgivable act for a strategist.
XRP Price Prediction: Market Opinions
For those looking to invest in Ripple, this XRP price forecast may shed some light. Here are some market opinions on what the XRP market can expect in May 2022.
Longforecast
According to the Longforecast XRP price forecast, it will open in May at $0.98 and close at $0.82, which will lead to a price change of -16.3% for May. The maximum price of the coin will be $1.73, and the minimum price will be $0.71. The average price for the month is expected to be $1.06.
Tradingbeasts
Tradingbeasts gives the coin a bright future in the coming month. They say XRP will reach $1.34 by early May 2022. The expected low price is $1.68 and the low price is $1.14. The XRP price forecast for the end of May is $1.34.
Previsionibitcoin
According to this website, XRP may increase its price in May. In early May, they priced the coin at $1.37. Moreover, they say that XRP will be boosted by more investors buying the coin, technology adoption, and international recognition. Media attention could also play a role in driving up the price of XRP.
Ripple forecast for 2022
Ripple Forecast 2020
According to the Ripple report, the company sold only $13 million of XRP tokens in the last quarter of 2022, which is 80% less than the previous similar period. This involuntarily suggested that sales had been reduced so much because the exchange rate was expected to rise to values at which it would be much more profitable to do so.
The news that the head of Ripple hinted at the possibility of holding an IPO of the company as early as this year also spoke in favor of the likely native XRP. And fans of the project were already anticipating an unprecedented increase in the exchange rate if this really happened.
True, this news could be looked at from a different angle. For example, a decrease in XRP sales volumes could happen due to a simple lack of interested buyers. In addition, to enter an IPO, you need to file financial statements to show future investors your success. And a significant decrease in token sales in this case would not be a positive thing. Therefore, this event would not necessarily be a boon for Ripple.
And yet, it was possible to bet on at least a slight increase in XRP, as, for example, Davincij15 recommended. Despite the generally negative attitude towards Ripple due to its service to banks, he believes that it was possible to at least double the deposit on this coin. As arguments, Davinci cited the current low price, inclusion in the TOP-3 cryptocurrency rating (irrelevant as of February 2021) and strong marketing of the company.
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However, after receiving a 2x profit, he recommended exiting XRP, as he was not confident in the long-term growth of the rate.
In February 2022, recommendations for purchases are provided by a summary technical analysis of the Tradingview.com service. He points out oscillator sell signals for Ripple, but recommends buying based on statistics and actively buying based on moving average data.
Ripple forecast from Tradingview
More details about the prospects of Ripple (XRP) and possible goals for investing in it are described in our video:
Is it worth investing in Ripple in 2022?
XRP Price Prediction: Verdict
Amid problems with parent company Ripple, XRP is seen to be moving up. This shows the sustainability and value it can offer. With upcoming catalysts such as the launch of the Flare Network and a possible win against the SEC, the coin could attract more investors into its fold. This explains the optimism expressed in market opinions. So, you just need to consider any important factor that can affect the price behavior of XRP to make the right decision.
XRP cryptocurrency as an everyday means of payment
Ripple as a means of payment
There is a widespread belief that the Ripple cryptocurrency is a means of payment created primarily for bankers and financiers. This image was at a certain stage supported by Ripple Labs Inc. itself. However, Ripple is rapidly moving beyond just a cheap means of cross-border transfer of money, becoming a full-fledged means of payment.
Already at the moment, there are ample opportunities to pay with XRP in online stores (for example, Coinhost and TorGuard, or even in Bitcoin Superstore, which at the same time allows you to pay for purchases using XRP in such Internet giants as Amazon, Google Express and eBay) or book hotel rooms and flights.
We are developing ways to integrate Ripple into the gaming and legal fields. In March 2022, a program was created to integrate XRP into the WooCommerce e-commerce plugin.
Considering that this payment plugin is used in more than 3 million online stores operating on the WordPress platform, such integration creates brilliant prospects for the introduction of XRP as a full-fledged means of payment and the subsequent increase in demand for this cryptocurrency.
Advantages and disadvantages of Ripple
Let's start with the advantages of this crypto:
- Speed
– when processing over 1000 transactions per second, Ripple competes with the most popular payment systems. Reliability remains at the same level as a traditional bank transfer; - Commission
– with a fixed commission of 0.00001 XRP, you will have to pay less than 1 American cent; - Can reform the banking industry
. If we assume that Ripple will become the basis of bank payments in the future, this will increase the processing speed of all transactions and reduce commissions significantly; - High volatility
– earning potential for speculators.
Let's move on to the disadvantages:
- Centralization
– remember that the registry is supported by several hundred nodes. This, of course, increases the fault tolerance of the system, but still cannot be compared with a regular blockchain; - Possibility of course manipulation by the project authors
. Let us remind you that they own 61% of all XRP tokens. Of course, the developers convince the community that no one has ever had such thoughts, but still, let’s not discount this possibility; - Excessive volatility
. This point can also be considered as a disadvantage. Banks are not interested in using a coin whose rate can drop by half in a couple of days. The lack of demand from large players is the reason for the lack of stable growth. The figure below is an example of how the cryptocurrency rate dropped by half in a month; - The company may block funds in the user's account
. This is done in order to combat money laundering, but it is unlikely that anyone will like it when their money in their account is blocked and then they have to prove that you are not a fraudster.
How has the Ripple exchange rate changed over the past 2 years?
Up until 2022, Ripple had a mixed reputation among traders and investors. A cryptocurrency with an emission of 100 billion tokens, although it was in the top in terms of capitalization, was perceived as something alien and mysterious. Then XRP, along with Bitcoin and the rest of the market, went down. During the period from April 2014 to April 2022, the Ripple rate almost always lay in the range of 0.003-0.01 USD, with the exception of a short period in late 2014 early 2015 when XRP almost reached 3 cents. Ripple's historic rally began in the spring of 2022. As of March 1, 2022, 1 XRP = 0.0055 USD. And already on May 1 the rate reaches 5 cents, on May 17 – 37 cents. In 50 days, the value of XRP increased 70 times.
The cryptocurrency market continued to grow between June and December 2017. The capitalization of cryptocurrencies during this period increased more than 3 times, but the Ripple rate fluctuated in the range from 0.20 to 0.35 USD. Some traders even jokingly called this either a cryptocurrency or a payment system, the word Cripple (can be translated as “inferior”). In the period from December 9 to December 16, 2017, the XRP rate grows 3.5 times – from 24 to 88 cents. Next week (December 17-22) Ripple breaks the $1 mark for the first time. At this time, materials about the new platform/cryptocurrency are actively published on Forbes, Bloomberg and other reputable online media.
XRP year ends at 2.24 USD per coin. And on January 1, 2017, the rate was only 0.6 cents. In 12 months, the value of Ripple has increased 400 times. During the same period, Bitcoin made 14x, and Ethereum 100x. XRP's capitalization increased from $260 million to $87 billion. Finally, on January 8, 2022, Ripple reaches its peak. 1 XRP is trading at 3.84 USD, and the market capitalization reaches $150 billion. At some point, Ripple almost catches up with Ethereum in terms of capitalization. On January 3, Bitcoin.com even published an article stating that Ripple is capable of surpassing Bitcoin in market cap.
