Ripple is regarded as a cryptocurrency as well as a digital currency platform. It is an open-source protocol that is specifically designed for enabling cheaper and faster transactions. Ripple is really ambitious and it is aimed to be a simple payment machine that can rule international transactions worldwide. XRP is the token that represents the transfer of value across the Ripple network.
Current status of XRP:
Current market value: 0.298660 USD
Current market cap: 12,569,709,991 USD
Market rank: 3
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Circulating supply: 42,087,046,846 XRP
Price analysis of XRP:
The above chart shows the following information-
- Present trading value: 0.298442 USD/0.00005244 BTC (UTC time 04:14)
- Market cap: 12,560,527,185 USD
- 24h volume: 853,492,881 USD
The same chart also makes it evident that approx. 1 month earlier, XRP had a trading value of 0.331020 USD. So, within this approx. 1 month, the value of XRP has been reduced by -9.84%.
Future price predictions of Ripple:
Very recently, Ripple formed a strategic partnership with PPTEP. It is a petroleum exploration company that is based in Thailand. According to crypto enthusiasts, this partnership is going to be a game changer of Ripple. According to the analysts, this partnership can boost XRP’s price this year as Ripple will provide this company with remittance service by partnering with Siam bank. This has already started providing great support to XRP’s price, but to intense volatility, fluctuations are inevitable. Ripple is amazing in securing its partnerships very diligently. It has already welcomed more than 13 clients at the beginning of this year, and there are many more to join Ripple in the future. The way it has been gaining publicity and global recognition to banks and financial institutions indicate that it can revolutionize the global payment network and can soon reach its aim.
Depending on its potential, we firmly believe that XRP can trade around $1.50 by the end of this year and if the market volatility improves towards the end of this year, then, that can be an added advantage to its price hike.
Conclusion:
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Ripple is performing really well. Due to the market condition, it is experiencing fluctuations. It has great potentials to soar up once the volatility is reduced. Otherwise, it is worth investing in this crypto for a good return.
