XRP : price prediction for 2021 explained
XRP price prediction : What do experts think?
Ripple is one of the most enigmatic cytometry projects in the crypto-economy, to say the least.
XRP price prediction for 2021 is a worth debatting question too.
On the one hand, there is no shortage of respected analysts to describe the problematic operations of Ripple, which supports XRP project, as suspicious. The dumping of XRP on retail investors, which skeptics say is an unregistered stock offering, is a central argument here.
On the other hand, Ripple is a large company, with a lot of money and whose leadership has proven that it is capable of positioning itself and positioning XRP on the path to success.
Can this positioning be effective? That remains to be seen. And then in the middle, there are more neutral people who say, “XRP is negotiable and it has good liquidity, so let’s negotiate it up or down.” Find more information here..
As a result, our preview of the 2020 XRP forecast will cover the views of skeptics, supporters and neutral traders,all with the intention of showing what differentstakeholders think might happen to the price of XRP in the coming months.
What is XRP?
Currently, XRP is the third largest cryptology currency by market capitalization behind Bitcoin and Ethereum.
This reality shows how popular XRP is,in general. However, the gap between XRP and these two leaders is quite large, because Bitcoin and Ethereum deal with much more economic activity than Ripple at the moment, and this dynamic does not seem to want to change anytime soon.
That said, there are also cryptographic veterans who are not yet quite sure what XRP is or does. To put it simply, XRP is a cryptographic currency that funders want it to reduce friction and the cost of transferring money between companies and beyond.
Specifically, XRP is the cornerstone of Ripple’s xRapid solution, as cryptography is used as a bridge currency within the tool for exchanging between different currencies, for example in money transfer transactions.
350 global partners for Ripple
In an interview at the end of May, the general manager of the South Asian branch, Navin Gupta, announced that the Ripple payment network was gaining traction..
Ripple has established 50 new partnerships since November 2019. Thus, these new signatures allow Ripple to reach the 350 partners scattered around the globe.
“We are one of the largest blockchain companies in the world, which is in production. We have about 350 financial institutions that use our technology every day,” he said..
In February, Ripple was the only crypto company to appear, alongside giants PayPal and Stripe, in the top 100 by FXC Intelligence, which compiles companies facilitating cross-border payments.
Top 100 cross-border payment solutions – Source: Decrypt.
100 million XRP come out of the receiver account
Unfortunately for XRP token, the growing adoption is not currently passed on to the price.
Despite these new partnerships, the Ripple price has not changed despite the recent rise in Bitcoin, and has remained at a stable value of about $0.2.
This situation may well continue, and even get worse in the coming days, following the release of 100 million XRP chips from theescrow wallet.
Indeed, there is a good chance that these chips will end up in public exchanges, which can potentially lead to downward pressure on the price.
Ripple remains one of the leading cryptocurrencies in terms of capitalization. This did not prevent the stablecoin Tether from taking third place, passing XRP, following the explosion of its use.
Top XRP price predictions for 2021
Alistair Milne: Obsolete, or 0
There are many people in the cryptoeconomy who think that XRP is worth absolutely nothing. Entrepreneur and investor Alain Michel is part of this group. In January 2020, he was offended by a comment Ripple CEO Brad Garlinghouse made to the Wall Street Journal.
“You don’t want to use CTB at Starbucks [because] when you have your coffee, it will be cold.”
In response to this remark, Mr. Michel took to Twitter and referred to the developers working on Bitcoin’s second-layer scaling solution, the Lightning Network, and argued:
“Ripple’s staff spoke to Lightning developers years ago. When they say things like that, they are fully aware that Lightning technology makes their token useless obsolete.”
In other words, Mr. Michel suggested that Ripple’s CEO had taken a low and unfair blow against Bitcoin,a move that seriously underestimated Lightning’s potential. As a result, Milne clearly believes that Ripple and XRP were ultimately rendered insignificant by the advances of Bitcoin and Lightning.
Changelly: €0.04 to €2 and up
Cryptocurrency exchange Changelly is one of the various encryption sites that offer price forecasts, even if they are unreliable, for example. This is not to say that Changelly will be a reliable predictor, but rather that the site has made a difficult XRP prediction that the community can follow in the future.
Thus, in early 2020, Changelly made a projection:
“According to [our] service, XRP is a bad, high-risk investment option over a year. In one year, the price of the coin can fall to 0.04 euros. It’s a long-term investment… The price of the piece will gradually increase. Thus, in 2020, the price of the coin will be 0.46 euros. In 2021, it will be 0.58 euros. In 2025, the average price will be 2.32 euros. »
Spencer Noon: Down about 70%, maybe
In February 2020, BitMEX Chief Executive Arthur Hayes announced that the derivatives exchange was launching an XRP/USD perpetual swap product. Hayes said:
“Is it called Ripple, XRP, or dogshit? Who knows, who cares? It’s worth more than zero, so it’s time to trade the USD pair on BitMEX. Boo-Yaka-sha! »
The deployment immediately made waves in the crypto-economy because of what has happened before. For example, Spencer Noon, the director of DTC Capital, responded to Hayes’ remarks by noting that the ETH price plunged when BitMEX launched the first PERPETUAL ETH swaps in 2018. Noon estimated that a similar dynamic could occur for XRP in the future:
“Arthur makes these antics every time a new swap is launched. It raises fears that foreign [institutional] investors will pile up and see those who have never had a forum liquid enough to do so before. It did the same with the ETH in August 2018: it fell by 70% in one month. Not good for $XRP.”
WalletInvestor’s XRP price prediction : Down 90%.
Like Changelly, WalletInvestor is another website that offers cryptocredit price forecasts using machine learning (ML) techniques. This is, of course, an imperfect method, because WalletInvestor works only from past data, and the past is not indicative of future performance.
However, it is still interesting to follow WalletInvestor’s projections and verify their accuracy. In early 2020, the site predicted that the price of XRP could fall by more than 90% in the coming year:
“Yes, the price of XRP could drop from $0.282 to $0.0183. The variation will be -93.5091%.”
Galaxy’s XRP price prediction for 2021: €0.30 in the short term
Not to be confused with Galaxy Digital company, “Galaxy” is a popular cryptocurrency trader on social media. Last month, the trader predicted that XRP was “ready” based on their trading charts, which predicted that XRP would break 0.30 euros in a relatively short period of time.
A few days later, Galaxy estimated that “750 bear market days” were over for XRP.
NewsBTC’s XRP price prediction : Up to 0.30
NewsBTC is a crypto newsagency. In recent days, its analysts have predicted that XRP could crack above $0.30 in due course:
“The wavy bulls must exceed the resistance zone of 0.2810 euros to give the pace of a larger rally. In this case, the price is likely to soar to the levels of 0.2880 and 0.2920. The next major obstacle for bulls is close to the handful of 0.3000 euros.”
This seems to be a relatively safe forecast, considering that XRP is valued at $0.275 at the time of going to press. Even so, the $0.30 price is not a guarantee for XRP in the new year.
Peter Brandt’s XRP price prediction : Maybe $0.46.
Peter Brandt is a classic chartist who trades many types of assets, including cryptocurrency. In recent years, he has attracted attention by proposing what he considers neutral projections on top-notch cryptos such as CTB, ETH and XRP.
For example, last fall, Brandt estimated that XRP could be on track to rise to $0.46 depending on the technical indicators, noting that
“The [current] diamond model has always been a leading model in traditional markets. I guess the model could work for a background in the cryptography markets. If you want to know what a very clean diamond looks like, see $XRP… While waiting for a fence above 0.3038, the bottom of the diamond will be completed with an initial target of 0.4691 $XRP”.
Michael Van De Poppe of Cointelegraph: up to 0.473
In early 2020, Michael Van De Poppe, XRP analyst at Cointelegraph, estimated that the price of XRP could then increase by 175% to reach 0.50 euros.
“Towards the end of 2020, a bull cycle will push the price of XRP to new levels above 1.0, while maintaining the focus on 3.0 euros,” said Van De Poppe.
Brad Garlinghouse’s XRP pric prediction : A boon if smaller cryptos fail
Brad Garlinghouse is the CEO ofRipple. And like it or not, Garlinghouse does its job well when it comes to defending and advancing the Ripple and XRP brands.
By the end of 2019, Garlinghouse has forecast that by 2020, capital will move from smaller and failed crypto projects to larger and more successful efforts such as XRP:
“I think you will continue to see consolidation. The world doesn’t need more than 3,000 cryptocurrency, and I think utility will confirm that there will be a migration to quality if you want to.”
It’s a point Garlinghouse doesn’t back down from. Later, he said he thought up to 99% of the crypto-economy would eventually disappear, paving the way for the advancement of major projects like Ripple:
“And I think you’ll see a consolidation, where there will be less than 3,000 for sure. We can discuss the limit at which this number can go down. I said publicly that I thought 99% of the projects would go away.”
XRP price prediction : when is the IPO?
In early 2020, Ripple CEO Brad Garlinghouse said his company’s long-awaited IPO could take place in the new year or shortly thereafter:
“Over the next 12 months, you’ll see IPOs in the crypto/blockchain space. We will not be the first or the last, but I expect that we will be on the side of the leaders… it’s a natural evolution for our company.”
Of course, it is possible that Ripple will not launch an IPO in the next 12 months. And thus remains a private company for the time being. In any event, it seems clear that Ripple is ready to follow the IPO path. And when this IPO is launched, expect optimistic investors to pile up in XRP while the hype continues. This is not to say that XRP is a long-term safe bet. But rather that traders risk becoming frantic if Ripple activates an IPO.
Bitlord : 224 € ?
Let’s be frank, at no time should you think that an XRP price of 224 euros is possible. But in the interest of covering the most bullish end of XRP spectrum, that’s it.
Last month, Sir Bitlord, the twitter crypto influencer, said the price of XRP could reach 224 euros. Again, this should not be seen as a reputable projection, but rather as the ceiling of optimism about XRP.
If the cryptocurrency enters a bull market in 2020,then XRP will surely benefit from a windfall. Regardless of the fundamentals. That said, Ripple has some solid collaborations going on with companies like MoneyGram. But will that be enough for Ripple to reach its escape speed?
It’s an open question for now. But it’s clear that Brad Garlinghouse and Ripple’s other key stakeholders won’t let go anytime soon. Therefore, don’t expect XRP to die anytime soon. It may not be the sexiest project in space, but it’s a project that has some of the biggest funders.