XRP or Ripple futures is one of the largest cryptocurrencies today, taking the third position worldwide. Although XRP was created in 2012 but it originated way back in the year 2004. Focused on the cross-border payments Ripple aims to change and revolutionize international payments with its solution.
Ripple’s value is starting to go up again, after a recent down period. The updated payment system with its own cryptocurrency XRP has disrupted the market and took the leading position.
Here are some facts about Ripple Futures that will help to understand how high it can go:
- Ripple’s XRP cannot be mined. 100 bln. of coins were issued all at once and 65% is owned by the developers and used for the development of the system. But developers can use the frozen amount only in small portions.
- XRP is not based on blockchain technology but uses the system on gateways through which all transfers pass.
- XRP uses Ripple Transaction Protocol. The consensus is ensured by a validator independent node. More votes the node has, higher is its status in the network.
XRP’s height in the future is based on some of its features that distinguishes it from all other cryptocurrencies. Some of those features are:
- High scalability with 1500 transactions per second, which is much more than other cryptocurrencies
- Low fees for the standard transactions.
- High speed for money transfers across the globe
- High security against hackers
- It can be exchanged for any other currency, gold, stocks with minimum commission.
What is the future price of XRP?
Both optimistic and pessimistic views have been given about the future of this cryptocurrency.
WalletInvestor has a pessimistic point of view on the future price of XRP. According to them, the coin will be dropping and will even reach $0.026 price point in 2020. By the end of 2020, XRP will cost about $0.4. The next four years will be not good for Ripple as well and the crypto will fall to the same positions as in 2020. So basically in 2024 XRP may cost about $0.009-0.01
DigitalCoinPrice however is giving a very positive XRP price forecast. According to them, XRP will achieve $1 per coin in 5 years. The predictions made by them are as follows:
In 2019 – $0.29
In 2020 – $0.40
In 2021 – $0.48
In 2022 – $0.62
In 2023 – $0.71
In 2024 – $0.61
In 2025 – $0.92
Based on current projections of the currency most people expect Ripple to go up to the 200-300 dollars range in next ten years.
However, there are a few issues with this cryptocurrency that raises questions on its growth in the coming years.
One of the main factors which affect the future price of XRP is its limited issue. The limited amount of resource plus the high demand can possibly increase the price of the currency.
There is also a big lawsuit which is pending against Ripple network.
Ripple holds total power over supply and they may cause an inflation in the market with the virtual coins that they release.
Even though Ripple has a few shortcomings, the positives are much more and that is indicative of a brighter future for the cryptocurrency. It has many real life applications as compared to the other cryptocurrencies and therefore, it is the preferred currency.
Ripple’s partnership with world’s leading banks is also a reason which will help Ripple to rise. Ripple provides really fast and secure services to these banks which is beneficial for the banks and keeps them interested in this cryptocurrency.
Hence, Ripple does have a bright future!