Ripple‘s crypto prediction for last year did not materialise as expected. Despite this, the company has achieved some success and remains among the companies with the largest market capitalisation.
Ripple (XRP) Prediction
Ripple was founded in 2012 by Arthur Brito, David Schwartz and Ryan Fugger. They initially used the C++ language and designed a real-time currency clearing and exchange network. In 2013, the Ripple Transaction Protocol (RTXP) was introduced, a new payment protocol that allowed the instant transfer of money between two parties. Between 2014 and 2017, Ripple focused on the banking sector.
RippleLabs pioneered an iPhone application that allowed users to send and receive money transfers. Since 2013, the Ripple protocol has been implemented by several financial institutions to offer an alternative method of money transfer. The German bank Fidor was the first company to use the Ripple network for cross-border payments in 2014. It was followed by well-known banks such as Cross River Bank, CBW Bank, Earthport, HSBC and Bank of America. Ripple now has more partnerships with financial institutions than any other cryptocurrency.
Ripple prediction: key factors
In some respects, experts and analysts are positive and suggest a good price development. These arguments point, among other things, to an increase in the price of XRP:
- Question: many big banks are adopting the Ripple platform because it makes them more competitive. With blockchain, banks are already lagging behind in terms of transaction speed, fees and security. More than 100 institutions are currently partners of Ripple.
- Ripple is ahead of Visa: until recently, Visa was the best in terms of transaction scalability. Following improvements, Ripple can now process up to 50,000 transactions per second. In comparison, Visa can only process up to 24,000 transactions.
- New partnerships: Ripple can return to a long list of current and future partners. Dozens of financial institutions will accept the XRP token later this year. This will have a positive impact on the exchange rate.
- XRapid: Ripple launched this new solution in October 2018. As of January 2019, at least 12 companies have reported using or planning to use XRapid. It improves the speed and security of transactions and reduces international transaction and currency exchange fees.
- New features: Ripple introduced Codius, which enables smart contracts. Xpring is another Ripple initiative that allows companies to invest in start-ups. There are also high hopes for the release of the Cobalt algorithm. This was announced at the end of 2018 and could have a big impact on Ripple’s price forecast and development
Ripple predictions for 2023-2026:
Ripple is currently among the top 10 cryptocurrencies in terms of market capitalisation. Experts and algorithms suggest a good outlook for Ripple in the coming years. On the other hand, it is relatively unlikely that Ripple will suffer a complete collapse – it is already too well established for that and has acquired many large and well-known companies and institutions as regular partners. There are differences of opinion on the detailed development of prices:
- Coinswitch: Based on the above, Coinswitch experts estimate that Ripple will end 2020 rising to USD 1.40-1.50. In 3 years, i.e. in 2023, the price of 1 XRP could be USD 4.52. The predictions are based on algorithmic analysis and possible market developments.
- Smarteum: The analysis shows that Ripple still has growth potential. Smarteum also includes competition from Stellar Lumens in its prediction for Ripple. Since both projects play a very similar role, a Stellar victory could reduce Ripple’s chances. They believe that by the end of 2019. Ripple could reach a value of between $3 and $5.
Summary – (XRP) Ripple Predictions
XRP is a polarised cryptocurrency. This is because few currencies have such different views. It should be noted that although Ripple is highly centralised, it is also used quite frequently and technically works well. In particular, service providers in the financial sector are actively using Ripple. The number of partnerships with established banks is impressive, and puts it in the spotlight of everyone in the financial world.