Ripple Price Index – Real-time XRP rate
Ripple Price Live Performance Indicators
Ripple Price Summary
Ripple prides itself as being among the earliest blockchain technology projects whose relevance has continued to grow alongside the cryptocurrency market. The most recognisable product of the project is XRP, which is the native token of the XRP Ledger. Over the past 24 hours of trading (at the time of writing), the XRP price has shown great hunger for a major breakout as it climbed 3.9% to $0.2317.
Looking at the XRP price for September 2020 tells a different story. Generally, the trend for this period is bearish but with numerous gyrations. The last year is even more confusing, with the price action having attempted to break above the $0.3 resistance level twice without success. Clearly, the high frequency of the price fluctuation implies that a good investor shall always seek to be informed about the evolution of the price for better decision making.
Ripple Price History
Ripple as a digital payment services project predates the blockchain era. Ryan Fugger is credited as the originator of the Ripple idea way back in 2004, but it was not until 2012 that Chris Larson and Jed McCaleb conceived a solid plan. At the time of founding in 2012, the project was called OpenCoin.
The initial release of XRP was in 2012, but the price history of the digital currency began on August 5, 2013, when one XRP coin fetched $0.0059. Ripple’s major use case is a real-time gross settlement (RTGS) system targeted at big businesses and banks. The XRP ledger also supports currency exchange and cross-border remittance of funds. Ripple claims that its distributed open-source protocol makes transactions on XRP ledger instant, secure, and cheap.
Despite Ripple’s solutions being revolutionary, financial institutions (the main target consumers) were not quick to adopt them. For this reason, XRP market continued to underperform until the onset of the crypto craze in early 2017. Between August 2013 and March 13, 2017, the XRP price grew by a mere 5%. On the contrary, the late 2017 crypto craze propelled XRP 61,835% to $3.84 on January 04, 2018. All this happened in just nine months!
Before the 2018 XRP price surge, Ripple had useful solutions already in place, including XCurrent, RippleNet, and xRapid, but they began to attract greater attention after the price surge. That is why the digital currency has maintained an advantage of approximately 600% above the pre-2017-surge price.
Ripple Price Prediction
Ripple XRP has maintained its status as one of the most important coins for long in cryptoverse and CoinMarketCap ranks it at the fourth place presently. Since its inception, XRP has earned investors an ROI of 3,841.26%. This is perhaps due to Ripple’s relative success in establishing real inroads into the world of traditional finance. Revolutionising cross-border transactions and international payments remain Ripple’s top priority, which provides the basis for XRP’s future potential.
XRP price suffered (like many other coins) from the 2018 crypto winter, but it is slowly recovering. Over the past three months, XRP registered a 26% gain, and there is room for further growth. The XRP community has validator nodes spread all over the world, which makes XRP transactions fast and stable. For this reason, there is a huge possibility that the digital currency will gather more support going forward, especially from the enterprise side.
XRP’s year-to-date performance shows that it is striving for the $0.30 mark, and possibly surpasses it. It is also possible that the price of Ripple might touch $1 for the first time in two years before the end of the year. Further off, XRP could create a new record peak, especially if XPring and RippleNet gather wide support.
Correlation between Ripple & Bitcoin
The correlation between Ripple and Bitcoin is positive which means Ripple’s value increases with the rise in Bitcoin’s price. Upon comparing bitcoin and ripple prices over a period of 90 days, a correlation of 0.79 was obtained.
Expert Tip on the Price of XRP“ XRP has been a great investment since it launched. Even then, it retains huge potential to surpass Bitcoin. This potential derives from the strong foundation that Ripple’s proprietary solutions have created. There is no doubt that XRP will benefit hugely from the wide adoption of solutions like xRapid and RippleNet. But how can you take advantage of this potential? The best way to identify potentially profitable trades on XRP is to conduct a thorough technical analysis with the help of indicators like Simple Moving Average (SMA) and Channels. ”
Essentially, XRP ledger is a global payments platform aiming to solve some of the problems that the traditional financial sector has found intractable such as the speed of transactions and associated costs.
The Ripple protocol has so much potential to turn the financial industry on its head that the MIT Technology Review for February 2014 named it one of the smartest finance-focused projects in the world. Already, RippleNet is giving Society for Worldwide Interbank Financial Telecommunication (SWIFT) a run for its money and the project is not yet matured. Accordingly, chances of an XRP price appreciation in future are super high.
Ripple Value Compared to Other Cryptocurrencies
Frequently Asked Questions
Currently, XRP is trading near the bottom despite the huge potential of its underlying technology to revolutionise finance. It is safe to conclude that XRP’s depressed price is down to a general fear of cryptos but when and if the market changes its mind, XRP will be destined for levels beyond $100 in less than half a decade ahead. As such, there is no better time to invest in XRP than today.
The XRP market is huge, and the coins are available on numerous cryptocurrency exchanges. Almost all major crypto exchanges offer XRP in exchange for fiat currency or another crypto. You can invest in XRP by buying and holding the coins to sell later, or you can trade XRP-based CFDs.
Future XRP’s value highly depends on the exploits of the Ripple project in the financial industry. Already, Ripple has shown the potential to rattle established institutions such as SWIFT. If solutions such as xRapid and RippleNet gain widespread adoption in the near future, XRP could potentially peak at $100 by the end of 2021.
This depends on how you view volatility. XRP price has greatly stabilised since the 2018 crypto winter. Again, the market is beginning to see the power of Ripple beyond the veil of crypto hype. For this reason, the XRP price has reduced the frequency of fluctuations as it plots its way out of the current bottom.
Ripple capped the supply of XRP at 100 billion. Also, McCaleb’s team distributed the coins in a way that supports stability and avoids the corrosive effects of inflation. In fact, this is one of the reasons why XRP has remained stable over the years. In short, Ripple economics will make XRP more valuable in the long-term.