Ripple Predictions for 2018-2020
Ripple is now pegged at around USD 0.53 while a couple of months back, it was a mere USD 0.2020. Although altcoins are linked to blockchain technology for combating the double spend issue, blockchain primarily functions differently for each virtual currency.
Bitcoin uses Proof of Work for block validating, while Dash uses the Proof of Stake algorithm. Ripple works on neither. Instead, it is based on a unique consensus protocol that is more scalable than any other bitcoin. Bitcoin can process transactions of up to 7 in a second, while Ripple secures 1500! Scalable Ripple is able to complete in a matter of one second what it takes a bitcoin network 60 minutes to complete! Because of these reasons, Ripple predictions 2018-2020 point to the value of choosing the best crypto broker for dealing in this altcoin.
- Ripple’s true value lies in refurbish old methods for modern purposes.
- The Ripple network can be used for crypto trading strategies which focus on exchanging any asset with another.
- Through a Ripple network, two people holding different asset classes can perform a trade on the spot, given intermediaries.
- Additionally, you’ll be amazed to know that on top of all this, transaction costs are pegged at a minimum.
These are incurred to ensure people performing transactions are serious rather than possessing mala-fide intentions. So, given all these factors, a Ripple coin can easily reach the 5-10 dollar range.
Why Ripple Could Shoot Even Higher
Ripple technology makes it perfect for replacing SWIFT. Many cryptocurrency exchanges are adding ripple to make this cryptocurrency available to public investors. This will definitely increase both its adoption rate and its price prediction. If Ripple does indeed replace SWIFT, it may even reach beyond USD 20 further than 2018. In case, Ripple is able to deliver on speed, scalability, and transaction, banks will switch to this platform. The price would rise and the total market cap may even jump to USD 1.5 trillion. Considering that the US Treasury holds that SWIFT facilitates USD 5 trillion worth of transfers in a day and 1.25 quadrillion dollars a year, the sky’s the limit for Ripple predictions 2018-2020.
But some questions remain. Ripple’s future supply of 100 billion coins could end up posing a challenge to this currency’s appreciation. Mainstream crypto investors and crypto broker comparison sites may also see Ripple as an interloper if it focuses excessively on bank processing systems alone, rather than being a cryptocurrency of repute.
While Ripple is a budding virtual currency with plenty of promise, there are also volatility concerns. But, on account of its advanced technology and trustworthy infrastructure, Ripple shoots past several other cryptocurrencies easily. Considering that Ripple’s XRP currency traded at USD 0.006 at 2017’s start, the cryptocurrency surge by nearly 64,000 percent at the start of January 2018 is nothing short of remarkable. Ripple could very well overtake ETH and even BTC.
Ripple Versus Bitcoin
- Ripple has yet to prove itself while bitcoin has an engaged and active community, massive awareness and a large number of personal and business users. However, Ripple has started attracting the attention of premier financial institutions, partnering with top brands like AmEx, Santander, and even MoneyGram. Unless banks embrace this digital currency, its price will vary. Ripple will remain super volatile as it has not been adopted by banks yet. Ripple CEO Chris Larsen has said that Bitcoin is a way to store value, while Ripple aims at currency agnostic value exchange.
- This means Ripple is even better than the real thing a.k.a BTC. The new technology has been termed by Larsen as “second generation bitcoin” allowing values to be exchanged like information. Ripple has even partnered Western Union because transaction times are quick and fees are way cheaper than other currencies like BTC or ETH. Ripple is unique because all XRP coins were released in one go. Ripple is not created by mining but is already circulating. Ripple Labs which is associated with ripple currency, owns most of this altcoin. With a supply of 100 billion, you’d be surprised to know that Ripple Labs owns 50 billion worth of this cryptocurrency. While some analysts say this is good, others feel it does not bode well for XRP.
Ripple’s Historic Growth
The XRP altcoin price has risen massively in the previous year. What could be the reason for this? Some say it is the worldwide network this altcoin has built across 100 nations with over 200 corporate alliances. The use of XRP by Standard Chartered, AmEx and a host of others has helped to push up its value. On the very first public date of trading in 2013, Ripple reached USD 0.005 and by March 15th 2018, it was pegged at USD 0.69 which marks an 11,752.28 percent rise.
During this 5-year period, the highest pinnacle for XRP was January 2018 before the Great Correction. XRP rose to USD 3.23 before falling to its current volume. So volatility has always been a concern for the altcoin. With markets changing and increasing volatility, there are many factors like a possible global regulation of Ripple post the G-20 meet in 2018. The Economy Forecast news says Ripple could fall by December 2018 to USD 0.32 while technology partnerships don’t show a lot of scope for growth. Ripple Coin News, one of the leading Ripple news sites holds that 2018 could be smooth for the company, with a strong performance, excellent partnerships and new technologies adding USD 8-10 dollars.
Some Ripple Predictions and Strategies for Growth
The UK’s biggest paper Metro opines that Ripple could fall to USD 0.22 to .28 basing it on the fact that BTC will dominate the Millennial mindset and reach USD 20,000. ValueWalk holds that Ripple needs to partner banking companies. This may push Ripple’s value to USD 10 mark. If the partnerships don’t succeed, however, the XRP token price could fall below USD 0.50 mark. The news coming out for Ripple does seem positive:
- Santander announced the use of its blockchain for a payment app based on the payment processing technology of Ripple.
- Japanese domestic banks are also set to power domestic money transfer payment systems using ripple. MoneyTap with three big partners chiefly SBI Net Sumishin Bank, Resona Bank and Suruga bank partner with Ripple to improve domestic payments using bank transfers.
- Another massive partnership for Ripple in 2018 is its alliance with MoneyGram. Cross-border payment processing systems and technologies of Ripple are set to improve cross-border global payments. The world’s second-largest money transfer company, MoneyGram is set to use this technology to instantly settle transactions.
- It is even allying with European and Latin American banks to help processing technologies progress positively.
The strategic alliances with central banks, financial institutions, corporate giants, and banks provide a deeper understanding of why the Ripple altcoin is set to conquer the markets within the next 5 years.
What Holds Ripple Back
While Ripple could change the way bank transfers are used, it is not disruptive enough. With no major or sea changes, XRP’s value could suffer. While BTC has only 21 million coins, Ripple has a 100 billion! This is another pressure source for Ripple. Oversupply of XRPs could place massive price pressure on overall value. Ripple is different from BTC, being a lot less decentralised. While Ripple’s 2018-2020 outlook looks positive, we need to understand what’s good and bad about Ripple.
To understand whether Ripple is good or bad, you have to understand that the biggest advantage of Ripple is its use by real companies. Additionally, transaction times are lower, than other cryptocurrencies like Litecoin and BTC. XRP has a 4 second payment settlement time frame. Faster than Ether’s 2+ minutes, it takes way less time than BTC which requires 60 minutes and bank transfers which take up to 5 working days.
Transaction fees are low for XRP which is O.00001 XRP or less than USD 0.00023. ETH has a transaction fee of USD 4.34 while BTC has a transaction fee of USD 7.92! Ripple is also a reputed cross-border payment format. What holds Ripple back is the consensus ledger approach, the possibility of price manipulation and the XRP holdings to the time of 50 percent by Ripple Labs. Ripple does not play by traditional rules and is more of a payment processing technology than an altcoin according to some.
Ripple’s Competitors and How The Cryptocurrency Can Beat Them
Here are Ripple’s key competitors:
- Listed as Ripple’s chief competition, Stellar offers fast, reliable, and affordable cross-border payments. Stellar focuses on inclusive payments.
- SWIFT is a payment processing technology serving banks since 2018 and known for cross-border payments. SWIFT has been exploring the use of blockchain technology.
- In 2017, Visa introduced a pilot phase of blockchain based B2B payments service, B2B connect permitting cross-border payments.
But for Ripple, there are interesting times. More and more cryptocurrencies are adopting Ripple. Technology partnerships include Western Union, Saudi Arabia central bank, Santander. UBS, UniCredit and a whole lot more. Whether these banks adopt Ripple is the billion dollar question. Mexican financial services company Cuallix is even set to use XRP for cross-border transactions.
Ripple’s xRapid system will also be pioneered by MoneyGram with effect from 2018. Ripple is an exciting cryptocurrency with the potential to be a major player in the world of payment processing. The question remains whether the banking industry will use it to their benefit. One of the largest cryptocurrencies by market cap, Ripple could very well rise in the coming years. Many crypto experts believe that Ripple will be able to reach peaks and new highs. Many cryptocurrency experts hold it is an excellent investment opportunity. Additionally, this cryptocurrency is always adding fresh clients and leading corporate brands to its growing clientele.
Why Ripple is the Future of Cryptocurrencies
As Ripple is actually undervalued in recent times, it is predicted that the cryptocurrency will be able to increase market cap and value significantly in recent times. FXStreet, Express Co, and Investing PR even hold that Ripple could triple in just a year. So, if you’re looking to invest in a cryptocurrency where risks are minimal and rewards are maximal, Ripple is the right choice. The world’s most practical financial network, Ripple offers robust payment transaction speed, record transaction time and value for your investment.
Traditional banking platforms are being phased out, with more digital ways of doing business gaining credence in recent times. The Ripple platform is one of the most innovative systems, which has been around since 2012.
Ripple’s platform is the perfect link between financial and social capital. With an exciting, feature rich network, Ripple has gained worldwide recognition for fostering money transfers in different forms. It is Open Source and P2P and works with currencies that are fiat or crypto, from the US dollar to the Litecoin. From German bank Fidor to HSBC in present times, a lot of banks are using this cryptocurrency. Clearly, the stage is set for the world’s leading corporate brands to join in next. Ripple is creating waves in the cryptocurrency world since its inception and the future looks promising for this altcoin, too.