Ripple has performed so-so during the recent period, and seems to be stuck in the $0.30-0.40 range. Judging by the charts, Ripple behaved like the market cap of the entire cryptocurrency market did. It’s neither good nor bad news – all in all, the cryptocurrency is still holding decent positions. But will it even get out of the vicious circle?
Traders say that Ripple should break from the range of $0.30-0.40 in order to rise to $1. It should no longer fall below the $0.36 to $0.38 mark – that will trigger new signals. Then Ripple should break the resistance at $0.43 to $0.44 and overcome the $0.52 limit. Despite positive forecasts, that doesn’t happen still. Will long-term investors benefit from it? It’s time to find out what should drive XRP growth in the following months.
What can make Ripple grow this year?
There are several things that can make Ripple more valuable in the eyes of investors.
-
XRP can be used to handle payments worldwide. If banks use XRP worth $30 bln to spend on international money transfers and currency exchanges, that might save them about $16.5 billion every year.
-
Ripple Labs is planning to launch the Xpring app, which would attract more people to the blockchain and coin. Such companies as companies Facebook, Amazon, and Google are interested in the technology.
-
Partnering with American Express, Ripple has managed to enter the Chinese market. Now the Yuan and XRP are expected to be used in the currency exchange. China is a huge market, and its contribution can make Ripple thrive: in China, about 10 bln credit cards will be in circulation by 2020, which ensures a positive forecast.
-
Ripple’s supply is limited, even though about 100 billion XRP exist. Narrowed supply means rising prices down the road.
-
With 0.00001 XRP fees, Ripple becomes a great blockchain for transactions – it will attract potential partners.
-
It’s also crucial to mention future partnerships with Santander and UBS, as well as the credit card provider American Express.
The technology provided by Ripple Labs makes it so much easier to transfer and exchange money – XRP won’t be ignored. Traders and blockchain experts believe that Ripple will gain in price this year. It’s being praised more than it is criticized by experts. Even if it doesn’t soar to $10, overcoming the $1 threshold is possible.
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Alex Dovbnya
Vladislav Sopov
Dan Burgin