Ripple price prediction 2021 -2025
Ripple XRP is one of the most intriguing and world’s foremost cryptos – Unlike Ethereum, Bitcoin, and other big cryptos, it does not market itself with its decentralization. Instead, the cryptocurrency has an association with several banks, investment companies, and organizations worldwide.
Many traders see this as counterproductive. They believe that the biggest selling point of cryptocurrencies is their freedom of influence from outside companies. But, many crypto experts are increasingly arguing that it could be the key to Ripple’s success.
Towards the end of 2020, the company faced an SEC lawsuit that put the Ripple future under threat.
Ripple price prediction has now 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 31.05.2021
- Ripple Price Prediction for 2022 by Crypto Experts
What Is Ripple Crypto and the History of XRP?
If you’re new to the cryptocurrency market, you may have such questions in your mind. So, we’ll start our price guide with basic terms. As we believe this will allow you to differentiate Ripple’s products.
Ripple is the company that provides a payment protocol that can be compared to a payment system, money transfer network, and currency exchange. This Payment protocol works with digital currencies, fiat money, and commodities. XRP is the protocol’s internal coin.
RippleNet powers XRP or Ripple. And many financial institutions use the coin to provide fast transactions with low fees.
RippleNet Cloud handles payments with one integration and a common Ripple Payment Object among RippleNet’s customers. Therefore, RippleNet represents a payment platform based on the distributed ledger database of XRP Ledger. It comes with “less friction and more standardization when customers are ready to scale.”
And as such, the XRP Ledger is open-source and based on the ledger database, not the blockchain.
About Ripple XRP
In 2014, Ryan Fugger announced the idea of Ripple. But, its real history started only in 2012 when Jed McCaleb and Chris Larson took over the project. At that time, it was not even called Ripple but OpenCoin.
The platform is referred to as RippleNet, while the crypto token is Ripple XRP. It is usually listed as XRP on exchanges.
Ripple was a startup project from San Francisco; the blockchain-like payment system was developed. It was established as an alternative to money transfers for the banking system, not as an opposition. However, its popularity among financial institutions grew fast, and soon the company announced interest from leading banks. This interest was not a surprise as the system enforced low-fee fast transfers all around the world.
Ripple was designed to make it easier for centralized financial institutions to make payments, 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). Generally, cross-border payments are 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 high transaction fees and unfavourable exchange rates, the cryptocurrency Ripple allows companies to send and receive payments in XRP, bypassing some of the problems that can plague fiat currency and fully decentralized cryptos.
Finance institutions apply the protocol to make cross-border transfers in real-time using the current software solution. XRP is also available for any trader and investor. Traders can carry out operations with the Ripple XRP by trading on crypto exchanges or brokers’ help.
What Happened to XRP in 2020?
Before we go to the experts’ opinions regarding XRP price forecasts and Ripple’s future, let’s take a look at the price history that will uncover plenty of vital things for you as an investor.
XRP market price was relatively stable with several medium-term bullish and bearish trends in 2020. But, immediately after the upward movement at the beginning of the year, the price declined for a month, from February to March to precise. Another next bullish trend occurred in July, though, but finished in less than a month. The major increase occurred in November when the price hit a maximum of $0.79.
Why is Ripple going up or down?
It’s a mistake to think that something specific is hidden behind these price movements.
The truth is that the major Ripple trends positively correlate with BTC movements, so even Bitcoin halving can affect the XRP price.
There were some certain events in 2020 we should mention. Investors’ sentiments determine the price direction of any digital asset. And ripple supply/demand factors play a huge role. In April 2020, Ripple co-founder Jed McCaleb sold 54 million Ripples, and you can say that it is not surprising that the price moved down after the event became public.
In December, leading US exchanges, Coinbase and Binance claimed support for the upcoming airdrop of Spark tokens by Flare Networks. The Flare airdrop happened, and 45 billion Spark tokens were distributed among the XRP holders. This made the XRP price increase on the news; however, it corrected shortly.
Events like this have short-term market effects that aren’t visible on high timeframes.
Within two days, between December 22 and 23, 2020, the XRP rate dropped from approximately $0.50 to just under $0.30. The coin moved to fourth place from third place, behind stable coin Tether, one of the most important cryptocurrencies.
XRP Price Prediction 2021 by Crypto Experts
The SEC issues haven’t been solved yet.
At the start of April 2021, Ripple XRP value renewed its three-year high at around $1.11even as the court allowed the company to review the internal documents of the SEC.
However, on May 4, 2021, Ripple XRP plunged as the SEC threatened XRP holders with legal action. They oppose investors joining the XRP securities recognition case. Nevertheless, the plunge didn’t happen for long, as the company appointed a former US treasurer to its board.
How should an investor behave under this form of uncertain circumstances? Is Ripple expected to rise or fall? Look at experts’ predictions.
TradingBeasts predicts that the average XRP price will be expected to stay within a $1.73-1.79 range. They see an uptrend, which is a good sign for traders.
They expect the maximum price to reach $2.24 in December 2021. And the minimum price is expected not to fall below $1.47 (June 2021).
Wallet Investor predicts that the average price of the XRP will fluctuate near $1.5 until December when the rate will touch $1.84. Although their website doesn’t predict any uptrend, the average price stays at good levels. They predicted that the highest price will always near $1.8, surging above $2 in December. And the minimum won’t fall below $1.1.
The Crypto Ground Ripple forecast can’t be called promising. Still, expect an upward trend. By 2022, the price will reach $1.92.
Coin Price Forecast
Coin Price Forecast can shock traders with an over-optimistic projection. According to them, the price may reach $4.77 by the middle of the year, and at the end of 2021, it will be $5.
You can check the Ripple coin price prediction by the Economy Forecast Agency below. It is showing that the price of the XRP/USD pair will suffer high volatility during the year. It doesn’t see a sharp uptrend. But the pair will end in 2021 above $2; ups and downs will highlight the way to this threshold.
Ripple Technical Analysis
Will Ripple Go Up? How High Can Ripple Go? Look at XRP Technical Analysis.
The price has been regularly updated from the XRP/USD history chart between local highs and lows since March 2020 (see the candlesticks above the blue trendline). With the powerful impulses and sell-offs, there is still a general global bullish trend.
One important marker to note is the surges of trade volumes marked with blue dots in the prediction chart.
The increase in trader activity resulted in a failed try to break out at $0.17 in December 2020.
Note that the red candlestick’s low determines the strong support level at 0.17, marked with the red line in the chart. Since the 2nd half of 2019, the XRP/USD quotes have often approached this line, but it has never consolidated below. This suggests a powerful buyer in the crypto market, actively buying out all the orders at this level to push the price up to the Ripple price target above.
Even more significant, the trade volume peak points out a powerful resistance level reached by the January candlestick. And in September 2018, the price movement already stopped at a level of 0.75 USD.
XRP Forecast for 2021
Having done the fractals’ technical analysis in the Ripple market, here’s the XRP/USD price projection 2021.
By accounting for the width of the trading channel and the range of Bollinger bands, I suggest the XRPUSD future price movement for 2022, the range of the market movement by projecting the monthly candlestick, highlighted with an orange box in the chart.
Here the trading scenario suggests a consolidation in the broad range – between levels 0.29 USD and 0.74 USD until late spring. This rate is likely to retest the lower and the upper channel borders this year. And when you put the wave sequence into consideration, there should be, first, a peak in the zone of 0.75 USD – 0.85 USD. Next, the XRP USD 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:
The XRPUSD price technical analysis is presented by Mikhail Hypov
Forex blog for traders
Elliott wave weekly analysis as of May 31, 2021
After an impulse wave A finished forming daily, the market continued building the next part of a global zigzag — bearish correction B. We can see its first half in the chart; It is expected to be shaped like a double zigzag [W]-[X]-[Y].
The wave [W] is a triple zigzag. The linking wave [X] looks fully completed in the form of double zigzag (W)-(X)-(Y). Though, a new action wave may be developing at the moment. Let’s check the H8 timeframe.
It’s clear from this that a new bearish wave will most likely be complex and consisting of sub-waves (W)-(X)-(Y). The first wave (W) of the new zigzag must have ended. It formed as a simple zigzag A-B-C.
Now, as the market started moving in a linking wave (X), its form may be simple and consist of three main sub-waves A-B-C. In the final impulse, the price is expected to rise in wave C to 1.153 in the near time. So that at this level, wave (X) ‘s size will be 38.2% of wave (W).
Ripple Price Prediction for 2022 by Crypto Experts
2021 isn’t less challenging for Ripple than 2020, and the price will keep jumping until the SEC case is solved. Let’s hear from the leading crypto sources about Ripple’s future value.
They do not provide a rosy prediction for the Ripple XRP in 2022. They maintain that the price will hold above $1.8 at the beginning of the year, and the downtrend will prevail from June onwards. However, they projected that the value would move to $1.48 by December 2022.
The Ripple price forecast by Wallet Investors is also pessimistic. They predict a downward trend, fluctuating around $1.66-1.73 until December when it’s expected to cross $2 again.
Crypto Ground disagrees with the pessimistic forecasts of Wallet Investors. The platform predicted that there would be a short downward movement at the beginning of the year, as they see a bullish trend in 2022. The price will be able to hit $2 and come to 2023 at $2.42.
According to the Changelly platform: “As soon as XRP reaches $1, the correction phase may enter. The most likely zone for Ripple XRP price in 2022 is between $0.5 and $1. But, if the company gains support from the investment giants, Ripple XRP rate can change its direction to a new bull run.”
Long Forecast, the Economy Forecast Agency has a bearish forecast for Ripple in 2022; price will decline from $2.17 to $1.53 during the year, even as the table below signals high price volatility.
Originally posted 2021-06-12 00:33:07.