The popularity of the cryptocurrency field increased immensely in 2017. It increased so much, that you’d be hearing about the crypto world everywhere – at work, at a coffee shop or at dinner with family. And you surely heard about a friend of a friend who got rich investing in cryptocurrencies – probably even before December 2018. Among the most popular cryptocurrencies – there are Bitcoin, Ethereum and Ripple. The ripple price increased in 2017 from $0.005 to $3.77 – making a $5 investment worth $3,770 at the all-time high.
I think that we can all agree that 2017 was the Ethereum’s year. The currently #2 cryptocurrency increased from almost $10 at the beginning of the year to an amazing $1,377 value. More than this, Ethereum also had hundreds of ICOs & dApps created under its blockchain and the popularity sky-rocketed.
But 2018 might be the Ripple year. Probably not the year when Ripple will reach a new all-time high value – but the year when Ripple will increase its adoption and the price will adapt to it in the future.
Ripple’s Most Important News Lately
Ripple started the year on the right foot. MoneyGram started using XRP in their payment flows since January this year in order to improve cross-border payments. This was a huge step forward for Ripple’s use case and it was only the beginning. Santander Bank launched a mobile app for global payments using the Ripple’s xCurrent technology only 3 months after MoneyGram. One Pay FX gave Santander customers the ability to send payments in EU and USA within one day – compared to three to five days in general. The news were announced on the Ripple’s blog, more details about it can be found here. Coinone also joined Ripple’s family to use xCurrent on May 8, 2018. But the most important news about Ripple started only in September this year. RippleNet reached 40 countries in September this year, according to a post on the Ripple blog – being one of the most used blockchains worldwide. Moreover, Ripple recently launched Ripple for Good, a program defined as “a corporate social impact program that will support mission-driven organizations and initiatives with the potential to expand financial inclusion worldwide”
And the news that put Ripple in the spotlight again – xRapid is now commercially available. The xRapid technology allows institutions worldwide to send the funds without a pre-funded nostrum account – so a cross-border transaction will take only a few minutes and will have a lower cost. And now – Swell is taking place in San Francisco, CA. This lead us to the second part of our analysis : how this news have an impact on the price
The reasons behind the $1 Ripple price prediction
Ripple’s growth in adoption this year was outstanding. Even if the price was on a complete decline, as almost any cryptocurrency, the financial institutions started using XRP even more than in 2017. This brings us to the first reason:
A real use-case
Ripple is not an ICO with a use-case presented only on a paper. They’ve made it clear since they brought more than 40 financial institutions into the RippleNet family. They made it clear when Santander Bank launched a payments app based on the Ripple’s blockchain. They’ve put the trust of millions of people worldwide into the Ripple’s blockchain – and for the good reasons. Ripple didn’t had scalability issues or any blockchain related ones in a long time. This makes it the perfect option for the financial institutions that want to reduce their transactions cost. Unlike other cryptocurrencies, the partnerships that Ripple does are with clients that will actually use the RippleNet blockchain. They are not made only to increase the cryptocurrency value, but mostly to solve a real problem and making the transactions easier worldwide.
xRapid and the past news
xRapid being commercially available is probably the most important Ripple headline of the year. More and more financial institutions will test it and use the RippleNet blockchain in the future. This will bring a large wave of customers from financial institutions – purchasing XRP both for the usage and for the investment opportunity. This will increase the adoption of XRP worldwide over the time, as there will be a high request for Ripple – from both financial institutions and even from traders that want to gain a profit.
Ethereum Issues & Momentum
Ethereum, the #2 cryptocurrency at the moment or writing, have scalabiliy issues. Right now, their top developers are working to find viable long-term options. Moreover, Ethereum is the most preferred cryptocurrency to scam people via Twitter – which affected their reputation. And we didn’t talked about ICOs, yet. In the recent months, there has been a downtrend in the ICO funding rounds, according to ICOdata. Ethereum is having a hard time – and Ripple took advantage of the moment to gain the #2 for a few hours – enough to gain attention in cryptocurrency enthusiasts zones, such as South Korea.
Even Bitcoin had a major double-spending issue recently. Issue that was solved in a fast way, but a few forked cryptocurrencies were affected by it.
All of these combined created a perfect ‘momentum’ for Ripple. In times likes this, Ripple could gain the media attention and increase in value with 20 -40% or even more, as it already did a few days ago.
Ripple’s now sitting at a $0.55 value. However, the price is almost double since its all-time low this year and with over 70% gained since the beginning of the month. With more and more financial institutions coming along – the adoption of XRP will increase and the price will follow.
We believe that in a short period of time, the value of XRP will reach the $1 or probably more. Even though Ripple isn’t that popular among decentralized cryptocurrencies enthusiasts, Ripple have a strong use-case that make it one of the hottest cryptocurrencies from the investment point-of-view in 2018.
Of course, XRP and other cryptocurrencies depend on Bitcoin’s price; But the market is adapting. Recently, XRP had a 60% surge in price and a slow decline afterwards. Investors are learning that the market doesn’t depend on Bitcoin entirely. And slowly, the Bitcoin drops in price will have no effect against the top 10 cryptocurrencies.
There are a lot of Ripple price predictions for 2018. Some people see Ripple priced at $10 in 2018. While other believe a $1 Ripple price is possible in 2018. We believe that with the news that Ripple had over the past months, with the perfect moment as Bitcoin and Ethereum had issues and the fact that the Ripple blockchain is used by financial institutions from over 40 countries – Ripple price may increase to $1 or more in 2018 or early 2019.
Image Source: TokenDesigner
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