Ripple XRP is one of the main cryptocurrencies on the market. Unlike other cryptocurrencies, which strive for complete independence from any centralized authorities, Ripple is closely associated with large banks.
Many crypto experts believe that Ripple’s position as a liaison between centralized and decentralized finance could be a key factor in the success of the project. It is possible that this unique position will help Ripple maintain its position in the event of possible large-scale shocks.
What Is Ripple
To understand the Ripple price prediction for 2022 and subsequent years, you first need to understand what this cryptocurrency is.
The coin was launched in 2012, at the same time as Ethereum. It was released by the RippleNet platform. Unlike other cryptocurrencies that offer individuals and corporations to transact bypassing centralized financial authorities, Ripple initially aims to enable these financial authorities to process payments faster, cheaper and more securely.
International transactions through the banking system are carried out slowly and with high fees, and global companies make dozens and hundreds of such payments every day.
The RippleNet platform provides large companies with the ability to accept and receive payments in XRP. Thus, savings on commissions are achieved and the loss of funds due to the difference in exchange rates is minimized.
Among the large financial institutions that cooperate with RippleNet are:
- Axis Bank
- Royal Bank of Canada
- Crédit Agricole
Ripple XRP Performance Analysis
XRP was listed on the cryptocurrency exchange in August 2013 at a price of $ 0.01. The asset price was relatively stable until 2017, when the entire cryptocurrency market began to grow rapidly. Bitcoin is up 2,000%, but this is just baby talk compared to the 36,000% increase in the price of Ripple, although in absolute numbers the all-time XRP high looks modest ($ 3.225138).
This coin behaved in a very unusual way during the coronavirus crash. Against the background of the general market trend towards a fall in the price of XRP, XRP has grown significantly.
Ripple Price Prediction
Analysts expect Ripple’s pricing cyclicality to continue in the future. It is believed that in the long term, the asset price will exceed $ 10. The timing and pace of reaching new records is unpredictable, like the entire cryptocurrency market as a whole. Investing in XRP is not a game for days and weeks, as in the case of convert BTC to Cake, but for months and years.
Traditionally, forecasts are divided into optimistic and pessimistic. According to the most pessimistic forecast, the price may drop to $ 0.55 in the near future, followed by a short-term recovery to $ 0.87 by the end of 2021.
Much more attractive are the predictions about the possible cost of XRP at $ 0.93, $ 1.55 and even $ 2.68 by the same time.
Long Forecast suggests XRP could hit an annual high of $ 1.7 in August 2021 with a subsequent correction to around $ 1.
In connection with the recent victory of Ripple XRP in court, the likelihood of the implementation of optimistic forecasts increases.