Short term price analysis:
Total market cap behaviour
As always, before we tackle XRP price analysis, we will check on the overall market status.
Currently, the total market is behaving as we expected and predicted in our previous analysis – it keeps losing ground and travelling to the support zone at $162 billion (data from TradingView). It is still hanging on a thread without a firm support beneath it. We should see a nosedive all the way down to $162 billion, where we have Fib236 (dec 2018 – june 2019, high low swing) that would act as a support.
Note: Tradingview data that we use in our analysis is off by approx $8 billion to the CMC data on overall market cap.
As you can see from the chart below, extreme fear is the dominant sentiment in the market as the buyers are nowhere to be found. Bears are slowly squeezing the value out of the market and as already written above, we are most likely still to see more suffering before we can turn the tide.
XRPUSD Price Analysis – 27 Nov
Below is our analysis from 24th November:
As the chart signals right now, XRP is about to receive a heavy beating by the bears. A slide to local bottom of $0.21 is almost a given but a further drift into an abbys is also a very likely option with $0.12 as the next somewhat strong support. That is the price XRP had in July 2017 – summer of bitcoin craze.
Getting out of XRP, if you haven’t done it already, is more than a wise decision right now.
Not much has changed and we still see the above scenario as the most likely thing to happen in the coming days/weeks.
Ripple and XRP News
Below is a summary of the most important happenings around XRP in the last month:
- Omni Rentals, a $35 million-funded storage and rental startup backed by major crypto firm Ripple, is reportedly shutting down its operations. As Omni is expecting to close its platform by the end of 2019, about 10 of Omni’s engineers will be hired by major American crypto exchange and wallet service Coinbase, tech-focused publication TechCrunch reports Nov. 25. Source
- Ripple has completed the acquisition of its $50 million stake in remittance platform MoneyGram, the companies announced Monday. Source
Below is our long-term price prediction for XRP.
Ripple XRP price prediction
The Ripple forecast for the past year has not turned out as well as expected. Nevertheless, the company has reached some milestones and is still in the upper echelons in terms of market capitalization.
Will the XRP price continue to grow in 2019 and how realistic are these expectations?
Ripple XRP Basics
Ripple was founded in 2012 by Arthur Britto, David Schwartz and Ryan Fugger. Initially they used C ++ and designed a network for real-time clearing and currency exchange.
In 2013, the Ripple Transaction Protocol (RTXP) came into being: The new payment protocol allowed instant money transfer between two parties.
Between 2014 and 2017, Ripple focused on the banking sector. RippleLabs experimented with an app for iPhone that allows users to send and receive money transfers. Since 2013, the Ripple protocol has been implemented by numerous financial institutions to offer an alternative method of remittance for individuals.
The German Fidor Bank was the first company to use the Ripple network for cross-border payments during 2014. Prominent banks such as Cross River Bank, CBW Bank, Earthport, HSBC and Bank of America followed suit.
Ripple now has more partnerships with financial institutions than any other crypto currency.
Ripple has made a name for itself as a bridge between traditional banking and blockchain technology.
Ripple forecast: The decisive factors
There are a few points that make experts and analysts feel positive and suggest a good price trend. Among other things, these arguments speak for a price increase of XRP:
Demand: Many large banks are accepting Ripple as it will boost their competitiveness. The blockchain quickly put banks at a disadvantage in terms of transaction speed, fees and security. Ripple currently has more than 100 institutions as partners.
Ripple overtakes Visa: Until recently, Visa was best at providing transaction scalability. After the upgrades, Ripple can now process up to 50,000 transactions per second. By comparison, Visa can only handle up to 24,000 transactions.
New partnerships: Ripple can draw on a long list of current and future partners. Dozens of financial institutions will be using the XRP token this year. This will have a positive impact on the XRP price.
ODL – formerly known as XRapid : Ripple introduced this new solution in October 2018. By January 2019, at least 12 companies had indicated that they were using or planning to use XRapid. It improves transaction speed, security and reduces fees for international transactions and currency exchange.
More new features: Ripple introduced Codius to enable Smart Contracts. Xpring is another Ripple initiative that allows companies to invest in startups. Hopes for the release of the Cobalt algorithm are also high. This was announced in late 2018 and could have a strong impact on the Ripple price prediction and price performance.
Ripple price prediction 2019, 2020 to 2023
Currently, Ripple is ranked third among crypto currencies by market capitalization.
Experts and algorithms assume a good Ripple outlook for the next few years. It is very unlikely that Ripple will experience a complete crash, as it is too established and has won many large and well-known companies and institutions as long-term partners. There is disagreement about the price performance though:
Investinghaven: The XRP token is expected to rise to US$ 20 by the end of 2019. This price prediction is based on fundamental and chart analyses.
It is completely unrealistic, in our opinion, and since we are only a month away from the end of 2019, this prediction is as realistic as Marvel action here movies.
If Ripple continues to attract new partners and can ensure that more institutional money flows into XRP, the experts believe that this would lead to an increase in revenue.
Coinswitch: Based on the above facts, the experts estimate that Ripple will close 2019 at US$1.20. The price of Ripple’s tokens is expected to rise to US$1.20 by the end of the year.
As you might have figure out by now, this prediction is more than unlikely with the current state of crypto and XRP.
For the coming year 2020, the Ripple forecast foresees a moderate increase to US$ 1.40 to US$ 1.50. The price of the euro is expected to rise to US$ 1.50 by the end of the year. In 5 years, i.e. 2023, the price for 1 XRP could be 4.52 US$. The predictions are based on algorithmic analyses and possible market developments.
Smarteum: The analysis concludes that Ripple still has growth potential. But it is unlikely to be as successful as 2017. Smarteum’s Ripple price prediction also includes the competition to Stellar Lumens. Since they both fulfill a very similar function, Stellar’s profit could dampen Ripple’s chances. They believe that Ripple could reach US$3 to US$5 by the end of 2019. Which is ridiculous to expect now that we have only 6 more weeks to go.
Conclusion on the Ripple price prediction
XRP is a crypto currency that polarizes. There is hardly a coin where opinions drift so far apart.
It should be noted that Ripple is strongly centralized, but is also used as strongly and technically flawlessly. Especially service providers from the financial sector use Ripple actively. The number of partnerships with established banks is impressive and makes Ripple the talk of the town in the financial world.
How strongly the Ripple share price will develop depends to a large extent on how much the supply of available coins will develop. Demand for Ripple remains high. In an up-and-coming crypto market, Ripple is likely to pick up just as strongly with a high probability and maintain a top position. The Ripple forecast is therefore positive.