Ripple XRP is one of the world’s foremost cryptos – and one of the most intriguing. Unlike Bitcoin, Ethereum, and other big names, it does not market itself with its decentralization. Instead, the crypto is closely associated with several banks, investment companies, and organizations worldwide.
This may seem counterproductive when many traders believe that the biggest selling point of cryptocurrencies is their freedom of influence from outside companies. However, crypto experts are increasingly arguing that it could be the key to Ripple’s success.
At the end of 2020, the company faced an SEC lawsuit that put the Ripple future under threat. Making a Ripple price prediction has become challenging for experts and common investors. Why is Ripple going up and down? How high will Ripple go? Let’s find out!
The article covers the following subjects:
- What Is Ripple Crypto and the History of XRP?
- What Happened to XRP in 2020?
- XRP Price Prediction for 2021 by Crypto Experts
- Ripple Technical Analysis
- Weekly Elliott wave Ripple analysis as of 05.07.2021
- Ripple Price Prediction for 2022 by Crypto Experts
- Ripple Price Prediction for 2023 by Crypto Experts
- Long Term Ripple Prediction: 2025-2030
- How Has The Price Of Ripple Changed Over Time?
- Is Ripple a Good Investment?
- Ripple Price Prediction FAQ
What Is Ripple Crypto and the History of XRP?
Ripple or XRP: are they synonyms or different terms? If you are new to the crypto market, you may have such questions in your mind. Thus, we will start our price guide with basic terms. It will allow you to differentiate Ripple’s products.
In order for traders to understand Ripple price predictions, it is important to know what Ripple XRP is and why it differs from most other cryptos on the market.
Put simply, Ripple is a company that provides a payment protocol that can be compared to a payment system, money transfer network, and currency exchange. The protocol works with digital currencies, fiat money, and commodities. XRP is the protocol’s internal coin.
If you want to have a deeper understanding of the Ripple topic, check the following terms.
- XRP or Ripple is a cryptocurrency that’s powered by RippleNet. Financial institutions use the coin to provide fast transactions with low fees.
- RippleNet represents a payment platform. It’s based on the distributed ledger database of XRP Ledger. Ripple operates the digital platform. RippleNet Cloud is used to deal with payments with one integration and a common Ripple Payment Object among RippleNet’s customers. It allows for “less friction and more standardization when customers are ready to scale.”
- As for the XRP Ledger, it’s open-source and is based on the ledger database, not blockchain.
About Ripple – A Crash Course on XRP
Ryan Fugger was the first person who announced the idea of Ripple. It was in 2004. However, the protocol’s real history started only in 2012 when Jed McCaleb and Chris Larson took over the project. That time it was not even Ripple but OpenCoin. The platform is actually called RippleNet, while the crypto token is Ripple XRP. (It is usually listed as XRP on exchanges).
First, it was a startup project from San Francisco; the blockchain-like payment system was developed. It was created as an alternative to money transfers for the banking system, not as an opposition. Its popularity among financial institutions grew fast, and soon the company announced interest from leading banks. It was expected as the system enforced low-fee fast transfers all around the world.
Most altcoins that have entered the market are designed to solve some problems that the founders believed could ultimately limit the success of Bitcoin, the so-called king of cryptocurrency. Many, like Bitcoin Cash, have focused on Bitcoin’s lack of scalability. However, Ripple focused on another feature of crypto: its decentralization.
Rather than providing a way for merchants and investors to make transactions online without going through a centralized financial institution (which can be slow, potentially unsafe, and expensive), Ripple was designed to make it easier for centralized financial institutions to make payments. Cross-border payments can be even slower than domestic payments, and they come with much higher transaction costs – and companies worldwide can make hundreds of these transactions every day.
To avoid skyrocketing transaction fees and unfavorable exchange rates, Ripple allows companies to send and receive payments in Ripple XRP. It offers a globalized currency that bypasses some of the problems that can plague fiat currency and fully decentralized cryptos.
Banks apply the protocol to make cross-border transfers in real-time using the xCurrent software solution. At the same time, Ripple (XRP) is also available for investors and traders. Traders can do operations with the cryptocurrency via trading on crypto exchanges or with the help of brokers. The company has had contacts at the highest political and financial levels for many years. Think of the World Bank, the ECB, the IMF, and the World Economic Forum. With rave recommendations and being priced from all sides – what could go wrong?
What Happened to XRP in 2020?
Before we list experts’ opinions regarding XRP price forecasts and Ripple’s future, let’s look at the price history that will uncover plenty of vital things for any investor. First, you will see what affects the current price of XRP and in what way. And, you will catch the current market conditions to be in the market.
During 2020, the XRP market price was relatively stable with several medium-term bullish and bearish trends. After the upward movement at the beginning of the year, the price was declining for a month, from February to March. The next bullish trend occurred in July but finished in less than a month. The main rise happened in November when the price hit a maximum of $0.79.
Why is Ripple going up or down? If you think that something specific is hidden behind these price movements, it’s a mistake. The major Ripple trends are positively correlated with BTC movements, so even Bitcoin halving can affect the XRP price. The cryptocurrency repeats the trend of the primary market.
Still, there were some certain events we should mention. Investors’ sentiments determine the price direction of any asset. Ripple supply/demand factor plays a huge role. In April 2020, the co-founder of Ripple Jed McCaleb sold 54 million Ripples. It’s not a surprise that the price moved down after the event became public.
New agreements with leading banks are one of the main drivers of XRP’s price. For example, in August, India’s largest bank HDFC Bank Limited joined RippleNet, in November, the second American largest bank, the Bank of America, signed an agreement with Ripple.
In December, such leading US exchanges as Coinbase and Binance claimed support for the upcoming airdrop of Spark tokens by Flare Networks. The Flare airdrop took place, and 45 billion Spark tokens were distributed among the XRP holders. The XRP price increased on the news; however, it was corrected shortly.
Such events have short-term market effects that aren’t visible on high timeframes.
Well, we have come to the most significant event that is still affecting Ripple. The SEC, the US stock market watchdog, is challenging blockchain company Ripple Inc. in court, along with its two top figures, CEO Brad Garlinghouse and founder Christian Larsen. The regulations in the US are tough. The Securities and Exchange Commission’s accusation is that unregistered securities worth $1.3 billion were sold in 2013. It is an old case hanging over Ripple for as long as we can remember. Ripple has always maintained that the digital currency is a currency instead of a security. Because otherwise, they’d have to comply with a lot of different rules according to American law. Many are amazed that the US apparently wants to slaughter the goose that lays the golden eggs.
In two days, from December 22 to 23, 2020, the XRP rate dropped from approximately $0.50 to just under $0.30. From third place as the most important cryptocurrency, the coin moved to fourth place, behind stablecoin Tether.
XRP Price Prediction for 2021 by Crypto Experts
The SEC case hasn’t been solved yet. And if, before, it had a dramatic effect on the XRP price, now, the situation is not so obvious. At the end of 2020, the XRP price fell to a local minimum of $0.17 while the SEC case was gaining momentum. At the beginning of April 2021, the XRP value renewed its three-year high at $1.11 while the court allowed the company to review the internal documents of the SEC.
On May 4, Ripple plunged as the SEC threatened XRP holders with legal action. The Commission opposes investors to join the XRP securities recognition case. Nevertheless, the fall didn’t continue for long, as the company appointed a former US treasurer to its board.
How should investors behave in such uncertain circumstances? Is Ripple expected to rise or fall? Look at experts’ predictions.
TradingBeasts expects the average XRP price to stay within a $1.73-1.79 range. The website sees an uptrend, which is a good sign for traders. The maximum price will reach $2.24 in December 2021. The minimum price won’t fall below $1.47 (June 2021).
The average price of the XRP will fluctuate near $1.5 until December, when the rate will touch $1.84. Although the website doesn’t predict a strong uptrend, the average price stays at good levels. The highest price will always be near $1.8, surging above $2 in December. The minimum rate won’t fall below $1.1.
The Ripple forecast of Crypto Ground can’t be called promising. Still, the upward movement will prevail. By 2022, the price will reach $1.92.
This website can shock traders with an over-optimistic projection. According to Coin Price Forecast, the price may reach $4.77 by the middle of the year, while at the end of 2021, it will be $5.
Below, you can check the Ripple coin price prediction by the Economy Forecast Agency. The source doesn’t see a sharp uptrend. The price of the XRP/USD pair will suffer high volatility during the year. Although the pair will end 2021 above $2, the way to this threshold will be highlighted by ups and downs.
Ripple Technical Analysis
Will Ripple Go Up? How High Can Ripple Go? Look at XRP Technical Analysis.
We shall start the XRPUSD technical analysis by exploring the monthly Ripple price chart outlook. First, we will identify the global trend and the key levels.
As you see from the XRP/USD history chart, the price has been regularly updating local highs and lows since March 2020 (see the candlesticks above the blue trendline). Despite the powerful impulses and sell-offs, there is a general global bullish trend.
Another important marker is surges of trade volumes marked with blue dots in the prediction chart.
An increase in trader activity in December 2021 resulted in a failed try to break out at level $0.17. The red candlestick’s low determinesthe strong support level at 0.17, marked with the red line in the chart. Note that, starting from the second half of 2019, the XRP/USD quotes have often approached this line, but it has never consolidated below. This fact suggests the presence of a powerful buyer in the market, actively buying out all the orders at this level to push the price up to the Ripple price target above.
The next, even more significant, trade volume peak points out a powerful resistance level reached by the January candlestick high (green line). In September 2018, the price movement already stopped at level 0.75 USD. This level should attract large sellers, creating selling pressure.
XRP Price Prediction for the Next Three Months
Let’s go to the technical analysis in the weekly Ripple chart.
Note that most of the time, the XRP quotes have been moving within a narrow Bollinger band. So, the price should be swinging in the range of 0.18 USD – 0.50 USD.
Having explored the XRPUSD exchange rate historical data, I noticed similar fractals, which could be conventionally divided into three phases.
- Red circle – consolidation with strong upward momentum.
- Blue circle – a sharp correction, following the impulse, going down to the level where the Ripple growth started or lower.
- Green circle – widening consolidation range with false breakouts of local highs and lows.
As you see from the chart above, this fractal in the bullish trend features the upward price movement in a broad trading channel. However, I can state for sure that theprice finished the stage of the blue circle. Therefore, the market should be trading sideways in the range of 0.23 USD and 0.70 USD over the next three months.
XRP Forecast for 2021
Having carried out the fractals’ technical analysis in the Ripple market, I offer the XRP/USD price projection for 2021.
Taking into account the width of the trading channel and the range of Bollinger bands, I suggest the XRPUSD future price movement for 2021. I determined the range of the likely market movement by projecting the monthly candlestick, highlighted with an orange box in the chart.
In the main, the trading scenario suggests a consolidation in the broad range between levels 0.29 USD and 0.74 USD until late spring. The rate is likely to retest the upper and the lower channel borders this year. When you consider the wave sequence, there should be, first, a peak in the zone of 0.75 USD – 0.85 USD. Next, the XRPUSD traders should try to test the support level in the price range of 0.17 USD – 0.18 USD.
The detailed XRP price forecast for each month is in the table below:
Weekly Elliott wave Ripple analysis as of 05.07.2021
There is developing a corrective pattern as a bearish double zigzag [W]-[X]-[Y]. It has started after impulse wave A finished. The first motive wave [W] has completed as a triple zigzag (W)-(X)-(Y)-(XX)-(Z). The upward linking wave (X) also looks completed as a double zigzag (W)-(X)-(Y). There should be forming the inceptive part of the new bearish double or triple zigzag. Let us study the most recent chart section in more detail in the H8 hour timeframe.
After the linking upwave [X] completed, there has formed the first motive wave as a simple zigzag A-B-C. There must have started the first bullish linking wave (X). It could end at a level of 1.053, where the (X) will reach the Fibonacci level of 38.2% of the wave. One could enter buy trades in the current situation, with a target at 1.053.
Weekly XRPUSD trading plan:
Buy 0.692, TP 1.053
XRPUSD current rate in the Forex market:
XRPUSD = 0.62401Sell0.62346Buy0.62401Mood70.9% 1-day change0.98 (0.00608%)