Ripple has recently been in the news for its case with the Security and Exchange Commission (SEC) which has overshadowed all the innovative work the company is doing with financial technology (FINTECH), especially, cross-border payments.
Ripple’s global payment solutions are helping transform how vulnerable populations, remitters and small businesses go about their financial activities.
With Ripple being faster and cheaper than its competitors in the decentralized world, will the digital asset be able to weather the storm, win its impending case against the SEC and become a millionaire-maker for traders and investors in the years to come?
The analysts’ estimate of the Ripple price for the next 10 years brings up constructive and cautious approaches. In 10 years, XPR could potentially reach new heights.
Analysts and forecasters have various views on the matter. Ripple Coin News says that the price of Ripple may increase to $30 in 10 years.
Smartereum is much more hopeful predicting that Ripple could cross $250-$300 in ten years.
Digitalcoin is more conservative when predicting the Ripple price long-term. They believe that Ripple could only increase to $1.93 by 2028.
In addition, XRP could attain these prices because further partnerships with Ripple would raise the attention of XPR in asset sharing. When buyers are more interested, this will also boost costs.
Ripple was awarded with a 50th position in MIT Technology Review’s 50 Smartest Companies in 2014, with Tesla, Google, Samsung, Amazon, Snapchat and Siemens featuring strongly in the first 25 positions. This came as a result of the vision its founders had as to how the future of the financial world was going to become.
In this decade (2020-2029), the world is gradually embracing decentralized finance (DeFi) with different protocols being mounted on RippleNet, Binance’s Smart Chain Network and Ethereum’s 2.0 Network. This means that the old traditional ways of going about financial processes (transactions) digitally is going to fade out and new and improved ways of making transactions digitally are going to be fully embraced.
This is where Ripple comes in with its crypto token (XRPs) and its technology (RippleNet).
Ripple provides software products and solutions to help traditional financial institutions adjust to a new decentralized world and adopt more efficient payment systems which are safer, faster and bring a lot of satisfaction to its customers. Additionally, Ripple’s solutions give its partners a competitive advantage in a market where financial institutions which are failing to embrace change are soon heading into extinction mode.
Ripple is a good investment in the long term as a result of its reliance on a Consensus Protocol and not Consensus Algorithm for Cryptocurrencies. According to Investopedia, consensus algorithm is a process whereby all the peers of a blockchain network reach a common agreement about the present state of a distributed ledger.
On the other hand, Ripple’s Consensus Protocol algorithm is applied every few seconds by all the nodes in order to support the agreement and correctness of the network. Once this consensus is reached, the current ledger is considered “closed” and in the process becomes the last-closed ledger.
A common consensus algorithm is Proof-of-Work (POW) which is employed by crypto assets Litecoin (LTC) and Bitcoin (BTC) and was a feature of Ethereum’s (ETH) 1.0 network but was dropped for Proof-of-Stake (POS) in the cryptocurrency’s upgrade to Ethereum 2.0.
The problem with POW is its waste of energy. As more computers interact with one another and perform additional work, naturally more electricity will be consumed. Moreover, there are security issues when there is a small network of miners. With this, there is a huge chance of a hacker gaining a simple majority of the network's computational power and staging a 51 percent attack.
With the consensus protocol, Ripple employs a ledger system to perform transactions. This means that relatively, there is a steadier transaction time as a result of less work and few problems for its network processors.
This is in line with the purpose for which Ripple was created and David Schwartz who serves as the Chief Cryptographer for Ripple opines that “The payment systems of today are where the email was in the early 1980s.
Every provider built their system for their customers, and if people used different ones, they could not easily interact with each other. The purpose of Ripple is enabling the connection of different payment systems together”.
Coinounce, a news website with a primary focus on startups in blockchain and cryptocurrency. has seen XRP performing better than its competitors with regards to fast transaction speeds which has seen it gain popularity among novice and expert investors.
The news site further added that “If things go well for the whole crypto industry, we can expect a bright future for all digital tokens along with XRP. By 2030, we can witness a flight towards the price range of $17 to $20 for XRP”.
For the foreseeable future, Ripple is a great investment as a result of its extensive use by traditional financial institutions. It has been reported that about one-third of the world’s largest banks in terms of “assets under management” already use Ripple’s cross-border payment technology or are in the process of testing the technology, and on their way to adopting it in their business operations.
After officially changing its name from OpenCoin to Ripple Labs, Inc. in 2012, Ripple has made a statement in financial technology (FinTech) due to the number of financial institutions under its care.
Ripple gained such a substantial part of the market as a result of providing quality software solutions and drawing up effective proposals which were submitted to business organizations as to why its payment technologies are the future of FINTECH.
More importantly, it highlighted why financial institutions should forget about the old traditional bank transfer systems and patronize the swift way of sending money across borders which is only possible through Ripple.
One of the major advantages of Ripple’s payment technology is that it can save up to 80% of transaction costs. Ripple does not only provide solutions to remittances that employ the services of its XRP Ledger, more banks are now using Ripple.
As of February 1, 2021, more than 250 banks across 50 countries as well as MoneyGram (a financial services company and international payment giant) have adopted Ripple’s cross-border payment technology.
Regular citizens wholesomely trust these financial institutions as most of them have been in operation for several decades. Going into a partnership with the crypto company means that through Ripple’s solutions, they are able to satisfy millions of customers daily.
In a statement, Chief Technology Officer of One Pay FX, Ed Metzger, speaking highly of Ripple said “Our innovation is always customer led. Ripple helped us to address the issues of speed and transparency around international payments which were raised by our customers. Their innovation has made sending money abroad better”.
Indrasish Banerjee of Coin Suggest, a website that provides guides for beginners of cryptocurrency investments and mining, sees Ripple as the future of overseas transactions and payment processing. He stated that “Banks and corporate giants are already trialling Ripple’s technology to minimize costs and maintain a distributed ledger”.
According to Smartereum, “2021 is the perfect time to invest in Ripple for the long term as its value could go up to the range of $200 to $300 by 2030”.
Is It Worth Buying Ripple?
Long Forecast believes the year 2021 will see XRP price rise to $0.80 and will cross $1. The investment news website believes the crypto asset will drop in the middle of the year and would be trading at $0.84 in December 2021.
This could be the time to consider investing in Ripple because it is relatively cheap, with its XRP tokens trading at a price of $0.45.
News such as the Security and Exchange Commission (SEC) filing a civil case against Ripple’s executives saw the digital asset plummet in price. In the same way, news of the case settlement which will be a positive for Ripple and will see the fall in price reverse to a spike in price since it has fought a good fight.
Evidently, “Ripple-SEC lawsuit will probably be settled out of court, a net positive for XRP Price” was the statement made by Crypto Busy (a YouTube channel dedicated to news and analysis of cryptocurrencies).
Analysts on the channel further added that “XRP may close at the psychological resistance of $1 in 2021 but upcoming projects such as building more partnerships with credible traditional financial institutions coupled with its On-Demand Liquidity feature will take it across $3 and hit new highs in the process”.
Trading Beasts has predicted XRP price to be $0.6585 for the year ended December 2021.
Wallet Investor sees Ripple’s price increase a bit but will still close at a trading price of at most $0.50 in 2021.
According to Prime XBT, “Ripple could break out to a price of $3 or even trade beyond that”.
Prime XBT believes that if the company is able to resolve its case with the Security and Exchanges Commission, Ripple could rise to as high as $27 per token in 2021, increase to $34 in 2022, and experience a bearish situation in 2023 where it will trade at $14 and spike an interest as a result of a drop in price to trade at $140 in 2025.
Ripple Coin News opines that Ripple is worth investing and will brighten up any portfolio with enormous gains in the future. The coin news website stated that “It is reasonable that XRP will achieve the $1 mark by the end of 2021”.
The partnerships with widely known financial institutions and the diverse creation of innovative products for start-ups can lead XRP assets to the $70 price point”.
Ripple Can Be Held Accountable, Crypto Assets Such as Bitcoin Cannot
Another important factor that makes Ripple worth considering as an asset, which could be added to your portfolio, is its decentralized centralized cryptocurrency status.
Unlike other cryptocurrencies particularly, BTC, which mostly thrives on speculation as to what buyers and sellers agree on, Ripple has got a team of developers and experts in financial technology who work day in and day out to ensure the technology stays in shape in terms of overall value and trading price.
This is why the crypto asset shows less volatility than competing mainstream cryptocurrencies (BTC and ETH) which see investors make gains today and see the gains erased the following day.
This has made Ripple very resilient in the market even on days where the whole market seems to have a bearish outlook. Looking at other digital assets which were touted as the next big innovation in the financial technology space, more than 1,085 crypto projects have disappeared from the length and breadth of the internet.
The primary reason for the disappearance of several coins can be attributed to a lack of investor and public interest, according to Coinopsy (a website that tracks digital coin failures).
Most crypto coins would have died off from the SEC news but three months on and Ripple is adding more partners to its network to help simplify international transactions.
As Selena Larson of the Technology Department of Cable News Network (CNN) puts it “Ripple (XRP) is worth investing because it cannot be created, or mined by users, as it happens with Bitcoin and other cryptocurrencies. The company has control of its destiny in that regard”.
Increased Investor Interest through Trade Volume and Market Capitalization
With a market capitalization of $19.754 billion and a trade volume within the last 24 hours of $3.79 billion, Ripple has seen strong investor interests. As a trader or investor, this is one of the areas you should research extensively when you make a decision to purchase and hold an asset for a long time.
Most of the assets which suddenly disappear on investment news websites, television and forums are primarily attributed to low trade volumes. The reason why we have major stock exchanges in the world such as New York Stock Exchange (NYSE), Nasdaq, Japan Exchange Group, Shanghai Stock Exchange, Hong Kong Exchange, Euronext, Shenzhen Stock Exchange, London Stock Exchange, Saudi Stock Exchange and TMX Group are a result of the trade volumes these exchanges experience daily.
Low volume exchanges do not make the news because the number of people who trade on those exchanges and the amount of money they spend cannot put them in the same bracket as these market gurus.
Trade volume helps you as an investor to identify momentum in a particular asset and confirm a trend. If the volume increases or is maintained daily, normally prices tend to follow in the same direction. Market Capitalization is also important because it reflects what investors are willing to pay for an asset and the market’s perception of its future prospects.
Ripple’s market capitalization means it falls into the large cap cryptocurrency category since it is above $10 billion.
Could Ripple Make You A Millionaire?
Ripple could become a millionaire-maker in the near future if you buy and hold for the long term by cutting off your extensive emotional supply of being an early seller.
As per data sourced from Ripple’s official website, the total market capitalization for the crypto in terms of total supply is $43.79 billion (100,000,000,000 × 0.4379) and a total trade volume of $76.62 billion at the time of writing.
Ordinarily, the circulating supply takes the market capitalization to a range between $19 billion and $22 billion. As a result of a double in supply which culminates in total supply, the market cap doubled as a result.
This means that for you to become a millionaire in the near future, all you have got to do is purchase XRPs by keeping in mind the number of XRPs owned which could make you a millionaire.
In this instance, purchasing 400,000 to 500,000 XRPs can set you on the path to becoming a millionaire if the crypto asset doubles in its trading price in the range of $0.86 to $1. If XRP crosses a price milestone of $5 in the future, you need 200,000 XRPs. At $10, all you need is 100,000 XRPs. If Ripple hits $20, you need 50,000XRPs to become a millionaire.
As a result of token burning, when demand for the coin exceeds its supply in crypto trading which leads to a spike in price to $50, you need 20,000 XRPs and trading at another milestone at a price of $100 will see you become a millionaire if you have 10,000 XRPs.
In terms of Decentralization, Ripple has a diverse list of validators that are helping ensure the long-term health and growth of its XRP Ledger ecosystem.
In our everyday setting as humans, we validate others so that we can acknowledge their unique identity. Ripple Validators are rippled nodes (computers that are connected to other computers that share information and follow rules) that operate as a validating server.
Simplistically, these connected computers are designed for the purposes of engaging in the consensus or agreement method. It is highly beneficial to run a validator to partake in the agreement process if a user or business depends on the XRP Ledger.
With such institutions maintaining the health of the ecosystem, security issues in terms of hacking have been reduced to the barest minimum and this certifies RippleNet as a network several organizations can trust to help create software solutions for them while knowing the security of their customers will never be in jeopardy.
Another factor that can push Ripple’s price to heights that has never been seen before is its On-Demand Liquidity (ODL) service. The ease with which an asset can be converted to fiat currency (cash) without disengaging the market is called liquidity.
The liquidity around Ripple’s novel token (XRP) is the life blood that is powering the company’s ODL for cross-border payments. You must note that the cryptocurrency (XRP) can be sent quickly, cheaply and directly without the confirmation or authority of any central financial institution which makes it the favourable digital asset “option” to help bridge two different currencies in a quick and efficient manner.
As XRPs serve as a bridging tool in On-Demand Liquidity, the liquidity of XRP increases and this helps minimize risks and transaction costs. The greater liquidity obtained as a result helps in increasing the size and volume of trades that can be processed by all the dependent systems.
There are several parts of the world that have been left behind in terms of financial technology. If ODL helps provide solutions to financial problems of vulnerable societies, new and large groups of traders will be attracted to Ripple and this will lead to more trade volume and liquidity for the crypto token XRP.
Eventually, there will be renewed interest from several business organizations with regards to the use of Ripple and through its solutions, improve the effectiveness and efficiency of their business operations. This will play a contributory role in Ripple price increment which will set you on a path to becoming a millionaire.
As Gracie Perez of Ripple Coin News puts it “The rate of adoption and the traders and investors who are planning on investing, it’s going to be a big change for the Ripple community more than we can ever imagine. The long term price prediction forecasts that XRP will reach a potentially high level of $30.04 in 2030. The average rate would be nearly $17. But we hope that price chat will evolve”.
Such a price multiplied by the amount of XRPs you are holding on to will could see you as a millionaire in the near future.
Ripple’s Infrastructure Plays a Great Role in its Worth
The whole idea of the creation of Ripple is to provide a payment system that can settle the transfer of money in real-time which can be done in a cheaper, transparent way by offering a complete alternative that works better than the old traditional systems which are used by financial institutions.
Ripple’s Infrastructure is led by xRapid which has been designed to deal with the scalability issue which has denied the adoption of several blockchain technologies by business organizations. xRapid removes the delays which for some time has been associated with global payments. It also lowers the cost in global payments and thus makes it inexpensive but provides faster solutions than most of its competitors.
Evidently, Chief Executive Officer of Transfer Go, Daumantas Dvilinskas opined that “We are making a real difference in the lives of people through the provision of cheaper and faster remittances. We have a competitive edge in India thanks to RippleNet”.
Processing 1500 transactions per second, Ripple offers a faster processing pattern and transaction fee than Bitcoin (BTC) which processes 7 transactions per second with a transaction fee of $23, Ethereum (ETH) which had its 1.0 network processing 15 to 30 transactions per second at a fee of $15 and traditional banks which can take up to three business days with charges ranging from 5 to 10% of the total amount to be used in the transaction.
According to Crypterium, the advent of central banks slowly warming up to decentralized finance with its digital currencies could see Ripple play a major role in all aspects of banking and payment solutions. This will see the price of the cryptocurrency soar to new heights.
Under positive circumstances after the company’s case with the Security and Exchange Commission (SEC) has been resolved, Crypterium is of the belief that “XRP could be looking at a price level of $17 to $20 per coin by 2030 which makes it a great investment in the near future”.
XRP Price Prediction 2030
According to Stormgain, “A $10 price prediction of XRP still seems optimistic, but if you are looking into the long term (2025-2030), then anything is possible”.
Crypto-Rating foresees the price of XRP surging to a new high of $50 and possibly $80 if the rate of adoption of Ripple’s novel token and its network (RippleNet) are far better than forecasted.
“XRP is going to grow and attain greater heights by 2030. Its adoption rate and use cases are undoubtedly going to grow exponentially more than we can ever imagine” are the words of Coin Switch, The world’s largest cryptocurrency aggregator predicts that “By 2030, XRP may reach $17.056 in the long term.
Coin Price Forecast predicts a long term price of $1.24 by 2030.
According to Crypto Info Base, “The future of XRP in the not-too-distant future will be centered on issues of acceptance and control worldwide. As all financial institutions gradually embrace decentralized finance where they try to find new ways of going about their operations, we can see XRP and RippleNet performing a key role between banking and transaction solutions as this will play a great role in increasing its acceptance and recognition”.
XRP will be valued $17 to $20 at the minimum and may surge up to $100 in 2030, the crypto news website added.
Paybis sees the price of XRPs increasing substantially to a price milestone of $589 based on high transaction volumes after the release of xRapid.
Ripple Coin News predicts that Ripple could hit $8-$10 in the next 10 years.
Andreas Kaplan, in his article written for Smarterem, says that “experts now suggesting XRP could reach up to $1000 a coin in the next 10 years”.
Should I invest in XRP?
You should definitely consider adding XRP to your portfolio. This is because the cryptocurrency has huge potential for growth although it has already made strong partnerships with gurus in the traditional finance space. Overall, the primary reasons why XRP is a buy are,
Ø Ripple’s primary objective for XRP is different when you compare it to Ethereum and Bitcoin. XRP was designed to ease the burden of a global payment crisis and make transactions faster in an inexpensive way.
Ø XRP has been able to maintain its spot in the top five (5) elite digital currencies ever since it started trading in August 2013. There have been several cryptocurrencies that looked like they had better innovative products but could not survive as a result of a lack of investor interest.
Ø Ripple’s Marketing and Public Relations Department are increasing their efforts to add more financial institutions (banks and remitters) to adopt the company’s payment solutions.
Ø Ripple has been able to make up for where Ethereum (ETH) and Bitcoin (BTC) fell short and that is scalability issues (slow transaction speeds) associated with the use of blockchain.
Ripple is saving the whole financial stratosphere with its technology and only time will tell as to the number of organizations who will enrol on its payment systems. For the time being, Ripple’s price could soar because it is the only technology that has found a credible solution to cross-border payments.
Bear in mind that it may be risky when planning to invest in cryptocurrencies. You should invest as much as you can afford to lose.
How Do I Invest In Ripple?
After a thorough education about Ripple and its prospects for you as an investor, you cannot overlook the advantages of the cryptocurrency and the numerous solutions it has helped provide business organizations.
The best place to invest in Ripple (XRP) which meets our requirements is eToro.
There are a few steps that you will need to follow in order to buy Ripple.
1. Set up an account
2. Add funds to your account
3. Select XRP from the platform list
4. Specify the amount of Ripple (XRP) you want to buy
5. Confirm your order