Cryptocurrencies are an emerging technology designed to disrupt the future of a number of markets. The cryptocurrency known as Ripple, officially called XRP, is one of the crypto assets that is aiming to shake up an entire industry – namely, the cross-border payments industry.
Ripple’s goals for XRP are quite different from what Bitcoin is aiming to achieve. Both provide users of the cryptocurrency a way to control their own assets, however, Ripple was designed for speed and to achieve some of the lowest fees of any crypto asset. These attributes make it extremely attractive for banks – Ripple’s main target customer – to move large amounts of money quickly, at a very low cost.
Due to this, Ripple is said to eventually become a replacement for SWIFT – the current standard for international bank wires, that includes slow speeds and high fees. Banks have been trialing Ripple’s xRapid which uses XRP to move funds at lightning-fast speeds between two third-parties.
Ripple may also disrupt traditional cross-border payments brands such as Western Union and MoneyGram, and recently acquired an ownership stake in MoneyGram, sending the price of the stock skyrocketing.
Because Ripple could potentially become the new standard across so many industries. Ripple has among the highest long-term price potential out of any crypto assets. Short and long term prices can be difficult to predict, however, this guide provides detailed information from industry experts and in-depth technical analysis, in order to help provide accurate Ripple price prediction and answer commonly asked questions such as “how high will Ripple go” and “how much will Ripple be worth in five years.
Ripple has had a strong 2020, striking many partnerships with banks from around the globe. The Ripple coin is also being tested at a number of banks as a replacement for SWIFT money transfers, and even direct Ripple competitors see the long-term value in XRP and are testing it out at Western Union and MoneyGram.
What might have the largest impact on the price of the asset, is the parent company halting further sales of the asset to fund operations. When this happens, the demand far outweighs any supply of the coin and causes a rapid price increase.
XRP news has also helped strengthen the value of the crypto asset. Ripple has also made great strides in being accepted by global regulators, which will help its long term outlook and price projections in the future. It was recently listed alongside Bitcoin and Ethereum by the Financial Conduct Authority as a token that provides utility or a means of making a payment.
Ripple is US-based and is also in good graces with chief US regulatory bodies such as the SEC. Ripple is listed at all major US exchanges where regulation is especially strict. The nods of approval by regulators give Ripple additional price potential and ensure Ripple will rise in the future.
LONG TERM VALUE OF XRP
Ripple has garnered the support of some of the biggest names in the investment sector, showing that many believe in a strong Ripple forecast. Investors can rest assured that their capital is positioned in an asset that has garnered the support from such powerful and prominent individuals.
Although markets and price action is always unpredictable, some analysts do eventually get it right. It provides plenty of hope that some of the new, higher projects may eventually come true like the following have.
Profit Confidential predicted in mid-2017 when Ripple was trading at less than a quarter on the dollar, that the asset would someday be worth full greenback. Later that year, Ripple did even better and reached $2. At the turn of the new year into the early days of January, it peaked at over $3.50 a coin.
