Hi everyone. And welcome back to make money online. Today we’ll be looking at the predictions of XRP in 2021. Watch this video till the end. To know how you can become a crypto millionaire in 2021 with Ripple. The XRP coin thrives on ripples designed to enhance financial transactions by making them faster and cheaper. Ripples XRP has turned heads in the crypto market for several reasons.
It stands out as the most progressively growing cryptocurrency with an impressive growth rate even higher than bitcoin. Like every other form of cryptocurrency, it has experienced its ups and downs as it had little to no backing from the start. But as it grew its drawn massive attention from individual and institutional investors across the world XRP is ranked as the third most valuable crypto asset in the dollar and it is currently valued at around 11 billion dollars rouble XRP. Despite its relatively young age has morphed into one of the world’s major cryptocurrencies.
It is debated in some circles whether XRP can be counted as a cryptocurrency because it threads the line of a decentralized cryptocurrency. This is preternaturally a run against the fundamental principle of Bitcoin and other old coins. However, this has played massively to its advantage as it has fallen into the good books of some of the world’s largest financial bodies who deploy the use of its affiliate payment system created by ripple X rapid.
It is a known fact that XRP can succeed where other cryptocurrencies will fail first solely because it complies with governmental financial regulations and it will be able to evade actions against decentralized cryptocurrencies by financial regulators across the world.
It also offers a payment system that is cheaper and faster XRP transactions processing speed as highly rated as it processes faster than any other cryptocurrency. There are a lot of events today that are certain to influence XRP standing in 2021. One example is the number of banks that are using repos technology to offer better financial products.
This number is expected to continue to rise as more banks are expected to join the moving train and deploying ripples payment solutions. And this means a great number of subscribers to each bank services will automatically be using ripple XRP as they conduct monetary transactions in their businesses and for cross-border transfers.
This is one of the major factors that reinforce excerpts continued stance in the market and it’s only going to get better as it gets in bed with more banks XRP is supported by banks such as Santander Royal Bank of Canada American Express and Westpac Ripple has obtained the support of some of the biggest names in the investment sector showing that many believe in a strong ripple forecast another major product recently launched by ripple is called the line of credit.
This platform provides access to XRP on credits with little interest in repayment. This is a pretty smart move on people’s part as this will naturally draw more investors to buy into XRP and repay later. Thus rural XRP attains a relatively unique market position which could enable it to escape some of the turbulence which could potentially shake the industry in the next few years.
The prime goal of Ripple is to serve as a medium for the direct conversion of one currency into another and ultimately a fast medium of the transfer. Take for instance an individual who wants to send a certain amount of Japanese yen to India and needs a medium that will enable a swift transaction. Usually, the end is converted into dollars before it is forwarded to India where the recipient now withdraws it in Indian rupees.
Now XRP takes the place of the dollar in this instance and its system validates the money and sends it to the recipient XRP is cheaper than the dollar and thus plays a good advantage in the scenario. The cost of a single transaction is about zero point 0 0 0 0 1 and then XRP costs 0 point 5 5 8 dollars which is next to nothing.
The bitcoins transaction fee is about point five to one dollar which makes XRP a better option in that aspect. It remits money transfers faster than other forms of traditional or cryptocurrency payment systems.
A transaction involving a ripple can be done with an average time of four seconds. Also Bitcoin transactions are 600 times slower than the next hour. This is because the XRP ledger can handle up to 1500 transactions every second. The downside which is not a downside at all at least not for now is that ripple cannot be mined and can only be obtained via exchange.
It will become more costly to obtain XRP as time progresses and that means the exchange rates will be higher to the current price of XRP is at about zero point five five eight six seven dollars with a market capitalization value of about 25 billion dollars. The most recent trading value of X are Peter Bitcoin is 0 point 5 6 0 0 9 7 dollars the maximum trading volume was pegged at 100 billion XRP and there is already about 45 billion in circulation Pending the entry into 2021 XRP is the most promising crypto asset in the market that is expected to experience a seismic change in its price level and market cap its growth rate has been amazing.
It is expected to grow faster and higher as 2021 progresses and the economy stabilises. Analysts are positive that as the economic downturn that arose from Corbyn 19 phases out in 2021 and things improve as restrictions are being lifted over some aspects of the economy the number of transactions that need to be done from one part of the world to another will increase.
Ripples XRP will be ready to stand in that gap as the fastest and cheapest payment system for running transactions. The wild run of bitcoin up to this moment has given investors hope and other forms of cryptocurrencies that they too will one day experience a major boost. The rise of a theorem also did justice to this and has led to some crazy long term predictions of the value of bitcoin.
Hence the reason for the optimism of analysts who have predicted significant bull runs of XRP in the coming years particularly 2021. The speculation that XRP can rise to a price between 100 and 1000 dollars in 2021 is not wrong despite its subsisting at open 55. It’s believed that favourable economic and market conditions will cause this seismic shift in the value of a rapidly advancing cryptocurrency when in 2021 the value of XRP will be at 100 to 1000 is unknown.
The last time XRP reached an all-time high was three-point eighty-four dollars in 2018 and it has dropped quite some ways from this price. Though analysts have predicted its rise. No one is optimistic of the coin reaching as high as one hundred dollars.
Their predictions have put it at values that are relatively low such as one to five dollars. The fact that it is at its current value of 0 point 5 5 has left its predicted value between 0 point 6 and one dollars for instance. This chart suggests a make or breaks in the price trend of XRP. Though it suggests that the price could rise beyond the current valuation.
It doesn’t rule out the nagging chance of the uptrend being resisted as a result of unprecedented events surrounding it. It also shows the formation of an asymmetric triangle formed between the last high price of 0 points seventy-nine dollars and the low point of open 22 to all point seventy-nine dollars.
The trend is expected to cool off with a correction before any more upside can be seen. The chances of an upside and downside are 50/50. But predictions suggest a major break towards an uptrend rather than a dip.
The trend line resistance of this triangle is located at zero points six-fifteen dollars per XRP another chart suggests a reversal here with its predictions predicting a slip downward when it touches the resistance From this angle the trend is assumed to be trending towards a downward trajectory losing momentum and dropping below the support line as the month progresses.
The key support level is pegged at 0 points 5. While the key resistance at O point seven dollars As dips continue to attract buyers there is no real bear sign yet. And based on technical analysis of the daily timeframe we may say that the overall outlook for XRP is bullish.
Some analysts have chipped in on the airdrop snapshot saga heralding the introduction of SPARC tokens which is presumed to cause a dip in the value of XRP. It was discussed that many investors were bought in short on XRP want to sell the point at its current high ahead of the stipulated time for the airdrop snapshot ultimatum to elapse.
The price of XRP is predicted to dip towards 0 points for two-point forty-five dollars during which the errant investors hope to buyback the XRP during the dip thereby having more of both spark tokens and XRP short selling now to obtain more XRP at the dipping price is riskier than it looks as much as the date of the airdrop nears.
It is but a speculation and it might eventually not happen and the price surges beyond the point 55 five marks. Their hopes of buying back at a lower price are lost to the wind.
Therefore we recommend that if you’re buying XRP be ready to get in it for the long run on XP. Good things will come to those who wait. According to a survey, about ninety-four point three percent of XRP investors are in it for the long term only five point seven percent are traders.
Only 43 percent of them are willing to partially or completely exit the market affects our view would reach a price of 100 dollars in the years 2021 to 2025 Thirty-nine point one percent would exit at a price between 10 and fifty dollars which means that 82 percent do not want to exit their XRP investment below 10 dollars.
This is unexpected because XRP is currently more than 92 percent below its all-time high of USD three-point eighty-four and that forty-four point one percent of XRP holders are still sitting on losses XRP has some pretty loyal investors who are not mincing it with another cryptocurrency. This number is only going to grow.
The future is indeed bright for XRP and its growing crop of loyalists. We hope you enjoy this video. Please don’t forget to give it a thumbs up. Subscribe and click on the notification balance.
You can get updates whenever you post a new video. What other cryptocurrency news would you like us to talk about. Let us know in the comments below. While you’re here. Go ahead and click on one of the videos on your screen. See you next time.
Read More: XRP Analysis & XRP Price Prediction