Ripple, a network for exchanging currency and real-time operations, was established in 2012 and since then has gained popularity due to its stability, quality and excellently built platform.
After a slight fall, it starts to gain value again, so experts say that it may be the last chance for users to buy XRP for the best price. It is predicted that Ripple will grow both on short and long-term periods.
Some traders claim that it is likely that Ripple will end up with a $1 value really soon. Considering that now its price is lower you can calculate how much money it is possible to earn in quite a short period of time!
If you read the news and listen to market analysts, most of them predict that XRP’s value will reach $300 in 10 years. Moreover, the company itself is interested in such a Ripple Coin Price, because it will make coin’s value more stable and attractive.
It is impossible to predict when Ripple’s price will go up but it will surely happen. Some analysts claim that the coin will hit $500 in a few years, while others claim that it will reach $50 by the end of the year.
If you want to know what the most realistic predictions are, just continue reading!
What to Expect?
Price Analysis 2020 is more than favorable, considering how good Ripple is able to solve world’s problems in real time. More and more companies across the world start using xRapid, XRP’s payment processor for business, banks and individuals.
For now, xRapid is dealing with a relatively small amount of clients but when the base of customers increases, the value of XRP’s coin will rise immediately. If you analyze this situation and look at the interest of more and more countries, you will be able to predict what Ripple (XRP) Price Trends will be in the nearest future.
Price Analysis 2020 and Trends
At the moment of writing this article, XRP has become the third currency by market capitalization ($ 12,5 billion) and is trading at 0.37 USD. The second place belongs to Ethereum with capitalization of $12,7 billion. Unfortunately, after the recent fall in 2018, bulls are not so enthusiastic about the price going up.
2017 was a good year for Ripple, which surprised the audience with lots of features. It managed to sign a variety of contracts and Ripple coin entered the list of platforms for exchange. Investors had discussions whether Ripple was effective in long-term operations, considering that its capitalization doubled just in a year and the price of XRP reached $2.7 compared to $0,006 in the same period.
Ripple Protocol Consensus Algorithm, or simply RPCA, is a protocol, which protects the network from any outside intervention. All the nodes cooperate and in a certain time period they vote for a database copy that is the most accurate one.
If all of the nodes in the network are properly developed, it is simply impossible to achieve majority during voting, because attackers need that majority for the minimum time between network polls.
You will probably agree that the only way for a society to survive is to learn how to build quality relationships, based on honesty and trust. This also concerns financial operations and any market transactions.
Technologies are evolving at a breakneck speed and very soon traditional banking systems will be replaced by cryptocurrencies and digital platforms. The only way for banks to survive is to use more efficient systems, which are much safer and faster.
If you want to conduct a proper Price Analysis 2020 or to evaluate whether experts’ analysis is correct, it is necessary to understand how valuable Ripple is on the market and how users can benefit from it.
It rightfully occupies the second place on the market of cryptocurrencies and competes with such coins, as Litecoin and Ethereum, offering efficient networks for payments and other transactions.
Actually, Ripple is more popular for its payment protocol than for being a digital currency. When it was founded in 2012, Ripple has gained an outstanding reputation on the market and reached success due to its stable XRP coin.
Ripple is a decentralized network, where all types of financial transfers are made. It is a peer-to-peer platform and works with a variety of currencies, like Bitcoin, Litecoin, US dollars or even Yen.
In order to provide high quality services Ripple uses Gateway medium. It operates as a link, which becomes a trust bond between two parties of the transaction process. Gateway is a mediator, which receives transaction funds on addresses that are stored inside the platform.
Anyone can create an account and start a gateway, which gives any person a right to become an intermediary in the process of currency exchange.
XRP is the Ripple cryptocurrency. It acts as a bridge between tokens and is not discriminating fiat or crypto, allowing exchanging a variety of coins.
David Schwartz, main cryptographer at Ripple, compares payment systems with emails back in the 80s. Different providers created different systems and it was quite challenging for people with different emails communicate with each other. That is why Ripple’s main goal is to unite different currencies and systems together.
While Bitcoin and other famous currencies on the market provide their operations using a proof-of-work system, the rest use proof-of-stake systems. However, Ripple decided to choose another path and so they use consensus protocol.
Thanks to checking balances and transactions of the accounts, it is possible to avoid double spending and to improve integrity of the system. The platform will delete suspicious operations and accounts so that people with bad intentions won’t send the same deal to several gateways.
In a few words, this protocol consists of nodes that decide the order of transaction pecking by a majority of votes. The best part is that the whole process takes only five seconds! Impressive, isn’t it?
Due to its decentralized nature, Ripple platform doesn’t involve authorities and governments into the process. Transactions are public in a consensus protocol, but their IDs and accounts are anonymous. Every user and gateway have a base of registered IOU.
As you already know, Ripple has its own cryptocurrency called XRP. It operates as a mediator between other payment methods, providing a comfortable and secure process of making a transaction.
Even though there are no authorities that control the price of Ripple and its market behavior, it is impossible to say that it is completely decentralized. However, such well-known institutions as Bank of America, RBC, Santander, UBS, Westpac and many other use Ripple for their operations.
The wise blockchain technology makes it impossible for the network or any of its participants to control transactions, although the above-mentioned institutions and banks may charge their own fees for transactions.
Unlike Bitcoin or Ethereum it is impossible to pre-mine Ripple. There are no XRP miners with their own farms across the world. This means that they are not controlled by anyone else.
On contrary, Ripple is powered by Ripple company, so it seems that the nodes are being handled and administrated by different financial institutions.
There is a fixed amount of Ripple tokens that can be handed to users and this amount was set during the launch on the market. This means that the number can’t increase and more XRPs can’t be created.
Similarities and Differences with Bitcoin
Many people inside the industry continue calling Ripple and Bitcoin competitors, although it is quite far from reality. Let us start by discussing their differences.
Bitcoin’s system is quite difficult because it takes time and money to produce but is simple for verification. In addition, it needs to meet a variety of requirements. Bitcoin uses proof-of-work system called HashCash.
On contrary, Ripple uses the consensus ledger (already discussed above), so there are clear differences in the way how the system works. Ripple is administrated by Ripple Company and OpenCoin, while Bitcoin doesn’t have authorities and puts its decentralization first.
What would happen if users of Bitcoin could only benefit from Ripple’s features? Don’t forget that it is gaining more attention from international companies due to its protocols and payment systems.
That is why they can complement in a variety of ways. Ripple can assist Bitcoin in providing additional connection channels with a variety of other currencies. This, in turn, will lead to better market stability.
Moreover, Ripple doesn’t depend on one company only, so acts as a distributed network. This means that users simply don’t need to waste their time on block confirmations.
How to Buy and Exchange?
There is nothing simpler than buying Ripple using Atomic Wallet Interface or your bank card.
The best features of Atomic Wallet include:
- Low transaction fees;
- Speed and security;
- Works with Bitcoin;
- Accepts Visa and MasterCard credit cards.
If you see a favorable Ripple Coin Price or simply want to exchange XRP, you can also use Atomic Wallet. It has a built-in exchange between 60 different assets at a great rate.
Why Its Price May Drop?
We have already discussed Ripple (XRP) Price Trends and you know that most likely XRP has a stable and prospering future. However, market fluctuations are possible, and no one can predict how a certain coin will act with a 100% probability.
One of the negative features is that the banking sector is monopolized, which slows down the development of technologies and creates a certain uncertainty how governments will react on cryptocurrencies.
Another minus (which concerns all coins, not only Ripple) is that investors usually wait until the coin has a stable rate until they decide to invest big amounts. Despite the volatility decrease, cryptocurrency price still declines, although not significantly. Investors are waiting for a new trend that would give them a green light to invest.
Another drawback, which makes bankers insecure, is that big amounts of coins are usually concentrated in the hands of their creators. They simply don’t know how the market will react on various fluctuations, causing turbulence or collapse of prices.
However, after 55 billion were transferred to a third-party account, investors exhaled with relief and the market could evolve more freely.
Unfortunately, it is quite difficult to predict Ripple (XRP) Price Trends because the management of the company keeps secrets to themselves and because it is almost impossible to predict how the market will behave. So, the best solution is to remain calm and follow the latest news.
It is clear as day that Ripple is gaining popularity and has already become one of the most secure and relevant networks for exchange and payments. It also produces one of the most stable cryptocurrencies, XRP, which is growing really fast and still has enough room to earn!
Price Analysis 2020 shows that most experts name Ripple as the coin with the biggest potential. Bitcoin, an undeniable leader, doesn’t have a clear follower and it is very likely that Ripple will occupy the second place.
So, make yourself comfortable and watch how Ripple evolves. Or better participate not to lose your chance!