Comparison chart Ripple, Ethereum, Bitcoin
Investing.com – Since the beginning of the year, the developed cryptocurrency XRP brought its investors a return of 410 percent. That is remarkable. After all, an initial capital of $ 1,000 would have turned into $ 4,100 in just eight months. That is a relatively proud amount. Fund managers who manage classic equity, commodity or bond ETFs would lick all ten fingers for such fantastic returns.
For comparison: the two counterparties and only achieved a 38.77 percent and 287 percent return in the same period.
Ripple rate currently
The year 2021 was exceptionally positive for the crypto markets – due to the ultra-lax monetary policy of the. After a subdued start to the year and highs in March / April, the great uncertainty surrounding China’s regulatory mania – and in the case of the process between Ripple and the SEC – triggered a profound correction in May. Most cryptocurrencies lost more than half of their value within a few weeks. The Ripple price collapsed from an interim high of around $ 1.96 by over 70 percent to $ 0.51 by June. The subsequent price recovery was very impressive, because despite the prospect of an early end to cheap central bank money, the prices of most crypto currencies rose steadily and made up a large part of their losses. So did the XRP, which rose to $ 1.38 on Sunday.
The XRP, which started the year at $ 0.21, traded a strong 411 percent higher at $ 1.12 in mid-August.
With a market capitalization of $ 52 billion, Ripple’s native cryptocurrency ranks 6th in the table of the world’s most important cyber currencies, ahead of and, but behind, and.
How the course of XRP will develop in the future cannot be said with certainty, but many experts and investors are already making forecasts.
However, longer-term future forecasts should always be viewed with skepticism, because there is no guarantee.
There are several factors influencing the cryptocurrency market, including government regulations and comments from famous people.
We analyze whether Ripple’s XRP is attractive for new investments in times of increasing digitalization and the growing demand for fast and secure cross-border transactions and what price development you can expect with XRP in the coming months and years Ripple price forecast. We look at possible XRP course objectives and dare one Ripple outlook.
Ripple price forecast
Ripple’s XRP could soar to $ 2.14 by the end of 2021 and $ 4.21 by the end of 2024, CoinPriceForecast believes. According to the forecast page, the cyber motto should not reach the $ 5 mark before 2027.
The developers of WalletInvestor are more pessimistic and forecast the XRP rate at $ 1.7 in one year and at “only” $ 3.35 in five years.
The forecast model developed by Digital Coin sees the Ripple price at the end of 2021 at $ 1.71, followed by an increase to $ 1.94 in the following year.
In 2028, the platform estimates the XRP price at $ 5.23.
What is Ripple?
Ripple’s original company name was Ripplepay and was founded by Ryan Fugger, a software developer in Vancouver, Canada. In 2012, Ripple was sold to Jed McCaleb, Arthur Britto and David Schwartz and renamed OpenCoin.
After some dramatic upheaval in 2013, the company was renamed Ripple Labs, and later in 2015 the company name was simply changed to Ripple
Ripple is designed to transfer money, especially across borders, quickly and at very low fees. Convinced XRP fans even expect in the long term that the system will gradually replace SWIFT, the current standard for international bank transfers.
A large number of financial institutions are currently using the Ripple network. The flagship platform RippleNet has a network of hundreds of providers in more than 55 countries. More and more companies are choosing to use the platform to speed up payments and transfers.
RippleNet is a global decentralized network that brings together a comprehensive ecosystem of payment institutions. In a blog post, Ripple describes the platform as follows:
RippleNet offers a faster, technologically advanced settlement platform for global payments. Based on blockchain technology, RippleNet removes the complexity that complicates today’s settlement process and enables cost-efficient cross-border payment processing in just a few seconds.
Using blockchain technology, RippleNet operates a platform that enables private individuals to transfer money from one bank account to another.
The platform then converts a sender’s currency to XRP and then sends it to the recipient, who can then exchange the XRPs for another fiat currency.
However, investors are concerned about an ongoing lawsuit by the US Securities and Exchange Commission. In December 2020, the SEC filed a lawsuit against Ripple for offering US investors XRP tokens, which allegedly were unregistered securities.
In their defense, Ripple’s team argues that XRP is not a security, but just a currency. Earlier this year, the company announced it was testing an open source XRP ledger. It offers central banks a solution for issuing secure, controlled and flexible digital currencies (CDBC).
How the legal battle between Ripple and the SEC will end is unclear. However, it looks like a solution is still a long way off. However, should the parties involved find a way out, XRP could easily hit new highs.
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