[Updated 6th April, 2020] This year hasn’t started greatly for XRP as BITBOX, a leading crypto exchange based in Asia, announced that they were going to delist the cross-border payment token. The platform failed to offer a concrete reason for why they are taking this action. Part of the reasons they provided for why they can delist a coin included performance, reliability, and liquidity.
It’s not surprising given that the move came just hours after XRP pumped 12% after months of bleeding over 2019. XRP ended the year -50%.
However, delisting and underperformance aside, Ripple is still the third-largest cryptocurrency by market cap and its set to see increased usage in 2020 through cross border payments in Southeast Asia, Africa, and Latin America.
Also, with research showing that investors are losing faith in XRP, which has seen it stuck around $0.20 level for a while, the overtly negative sentiment at times precedes major trend shifts. The decline in investor confidence in XRP is likely to fuel a rally.
At least that is the opinion of one popular crypto analyst who goes by the name Mr.Anderson. through a tweet, he recently explained that even though XRP’s price action looks quite bearish, like many altcoins, XRP will be able to form long-term bottoms when investors “throw in the towel.”
In this piece, we are going to take a look at a few reasons why we believe XRP is set for better days in 2020.
1. Increased Adoption By Banking Institutions
Ripple provides a blockchain solution which tries to solve the problems that have hampered the financial industry over the decades: slow transaction processing speeds, high transaction costs, and unreliability. Ripple also aims to make cross-border payments far more efficient for these large payment providers.
Early success in showing these solutions is why major financial institutions have been quick to partner with the Ripple platform.
So far over 100 financial institutions who range from payment providers to banks have partnered with Ripple and are in the process benefiting from the many blockchain solutions that the platform offers. Earlier this year Ripple partnered with BankDhofar—the first bank in Oman to make such a partnership. Dr. Tariq Taha, the bank’s chief of information in a press release statement was quick to point out why this move was so significant for the bank.
“With this, we can provide instant, frictionless and secure cross-border money transfers within seconds, with end-to-end visibility over the journey of the payment”
Ripple has also stated that an announcement is forthcoming where it will partner with “many banks” in Germany.
2. Further Partnerships – The Most Important Ripple News
Ripple has been positioning itself as the preferred distributed ledger technology for cross-border financial transactions.
On this front, Ripple has seen major adoptions by financial firms. Sadly, the price of XRP has not shifted proportionately to these partnerships.
Some commentators have suggested it’s because some of these firms are not utilizing Ripple’s native coin, XRP.
While this is partially true, below we are going to look at three reasons why the price of XRP is going to peak soon.
The Flutterwave Partnership
Flutterwave is an Africa-focused firm that seeks to bridge the gap between Africa and the global economy.
Its partnership with Ripple, allows Flutterware to utilize the power of Ripple’s blockchain to build payment infrastructures that will serve their mission.
This partnership has, for the first time, opened Africa to the Ripple platform which has been the defacto blockchain for processing payments in other parts of the world.
To realize the full potential of the platform Flutterware had to undergo new configurations which included the installation of an xCurrent. This connection allows all the platforms on RippleNet to send and receive payments in real time.
Ripple’s xCurrent will be interfacing with InterLedger Protocol designed by Fluttterware to accommodate a single currency.
As this partnership runs deeper, a use case for XRP will, presumably, naturally arise and this will impact its price positively.
Integration On Moneynetint
It’s another significant integration that will see the price of XRP rise in the coming months.
Moneynetint is an e-money firm based in the United Kingdom. The firm specializes in sending money across borders for corporate clients. It’s something that implies that the amount of money being sent is relatively huge.
Yishay Trif, the CEO of Moneynetint in a statement said:
“Once we realized how professional the Ripple team was and supports the process, we decided to choose them. We expect that together we will be able to lead significant development and simplify processes in the area of cross-border money transfers. The processes of interfacing and approval between financial institutions, previously taking months or even years are now significantly reduced to a matter of days to a few weeks.”
This positive development indicates that Ripple is likely to rise soon given that this is the beginning of their collaboration.
Using Credit Cards To Buy XRP On Binance
This is perhaps the second most important news of 2019 for Ripple. The giant Binance gave users the opportunity to purchase cryptocurrency using credit card payments by a Binance & Simplex partnership.
This have made things way more easier. If by now the only way to purchase XRP was by purchasing BTC/ETH first, as mentioned in our “How To Buy XRP from Binance” guide, right now you can do it only with a few clicks. Now all you have to do is enter you Binance account, make sure you’re verified level 2 and click on “Funds” -> “Buy with Credit Card”.
Easy, right? And the fees are pretty low too – 3.5% or 10 USD – whichever is higher. Visa and Mastercard are accepted and it take between 10 and 30 minutes for the XRP to reach your account.
Also, there are other significant partnerships that have the potential to impact the price of Ripple in the coming months.
For example, the Gates and Melinda foundation partnership that has helped connect the unbanked people to financial solutions through the Mojaloop project. The project uses the power of Ripple’s interledger Protocol.
Moreover, the Ripple’s CEO has stated that ‘dozens’ of financial institutions will be using the XRP token in 2019. So it’s safe to assume that the price of Ripple (XRP) will see massive gains soon.
Ripple is now on Coinbase Pro
Starting February 25th 2019, XRP trading is live on Coinbase Pro with XRP/USD, XRP/EUR and XRP/BTC pairs. Unfortunately, only users from US (non New York residents), UK, European Union member nations, Canada, Singapore and Australia could trade XRP on Coinbase Pro. The announcement also mention that more countries will be added at a later date.
This was waited for a long time by the Ripple enthusiasts and this move increased the price of XRP by almost 3 cents in an hour.
3. It’s Now The Fastest Transaction Processing Platform
Visa used to be the fastest company when it came to global financial transaction speeds until recently. A number of system updates on the Ripple platform have seen the platform overtake the top position.
Before the system update, Ripple could handle only 1,500 transactions but now can process up to 50,000 transactions per second. This is over double the number Visa can handle with 24,000 only. This makes Ripple the fastest transaction processing platform in the world.
Now corporations can subscribe to the xRapid package offered by Ripple and make quicker and safer transactions. The package will also help drive down the cost of currency exchange and global settlement since XRP and fiat currency fit like a glove and a hand.
This will save companies and their customers millions of dollars each year.
Regarding the xRapid solution, Ripple is trying to expand it to reach a larger number of companies processing payments and transfers using the XRP digital asset. There are several firms that are analysing the possibility to implement this solution to improve their liquidity.
Brad Garlinghouse, the CEO of Ripple, is confident that banks will be using this solution by the end of this year.
One of the firms that is using xRapid is Cuallix. Located in Mexico, the company provides credit and payment solutions through credit loans, car insurance and more. After joining the RippleNet in 2017, the firm decided to start testing the xRapid solution even before being released to the market in 2018.
Mercury FX, a recognized money remittance business, is also using XRP to send payments to and from Mexico. At the moment the company created a payments channel with the Philipines that allows institutions and interested customers to send payments in a fast and easy way.
Other firms using these services include SendFriend, MoneyGram and Euro Exim Bank. These firms are also using the xRapid product to be able to improve their services.
We’re happy to announce Cambridge Global Payments @cambridge_fx is using $XRP in an #xRapid pilot to provide its 13,000 global customers with faster, cheaper and more transparent cross-border payments. https://t.co/dEoL1jVAdh
— Ripple (@Ripple) March 1, 2018
With many other companies testing XRP, including Cambridge FX, WesternUnion and others, the digital currency could continue expanding. David Schwartz, the CTO of Ripple, said that the higher the price of XRP, the larger the payments Ripple can target.
“More value almost always means more liquidity and trade volume. XRP already has each of the other characteristics needed to be a good intermediary asset, but it will be initially limited by the available liquidity,” wrote Mr. Schwartz.
— David Schwartz (@JoelKatz) September 5, 2017
The xRapid solution allows firms to purchase XRP using local currency from liquidity providers (i.e. exchanges) and make a transfer using XRP. The receiver client will be able to sell the funds with local liquidity providers and receive local currency that can be transferred to a bank account.12
Experts Ripple XRP Price Prediction for 2019 & 2020
Ripple is two things: a cryptocurrency (XRP) and an open payment system for banks. The cryptocurrency is a strong liquidity solution for real-time, low-cost transfers through fiat and crypto markets, as well as a solid investment option.
According to Messari Ryan Selkis, the CEO of Messari Ryan, Ripple Company, as free-standing software is “really good,” and their information is quite transparent. Additionally, more companies continue to use the protocol to transfer money to different parts of the world.This is a key factor that will see the coin’s price surge.
Moreover, Brad Garlinghouse, Ripple CEO, recently stated that the growing value of the coin is justified. He attributed this growth to the company’s growth, as well as the size of foreign exchange markets that the coin intends to address.
According to Ripple’s chief cryptographer, David Schwartz, today’s payments systems are where the email was in the early ‘80s. Each provider built their systems for their customers, and if the customers chose to use a different one, they couldn’t interact easily with each other. This is where Ripple comes in; the platform will enable a connection between different payment systems. This will be followed by increased adoption, which will push the coin’s price up.
Ripple Coin News, the web’s 2nd largest Ripple news network by traffic argues that the increased new partnerships, technologies and a strong performance will see the coin’s price hit $7 this year.
Additionally, the CEO of Ripple, Brad Garlinghouse, expressed optimism when he stated that many more payment companies, financial institutions and banks will join the Ripple ecosystem, thus increasing XRP’s value.
Peter Brandt is one of the people that you should follow. He’s a master in charting & trading. When asked by an user about the insights about Ripple, he replied with a nice graph.
definitely coiling up pic.twitter.com/ixY4b6ysqx
— Peter Brandt (@PeterLBrandt) January 21, 2019
InvestingHaven – a well known website for investors and enthusiasts – made a long analysis over Ripple’s price. According to their analysis, they see a potential $20 price for Ripple’s XRP at the end of 2019. A Ripple price prediction of $20 at the end of 2019 is pretty optimistic, based on the fact that now its only $0.29.
Even in June, they are still bullish on Ripple and claim their price prediction could come true in 2019 or 2020 – it will all depends on the crypto market & how it will evolve. .
Phillip Nuun, the CEO of Wealth Chain Capital & The Blackmore Group didn’t mentioned his opinion about the ripple’s price nor made a ripple price prediction – but he claims that Ripple will be among the most important cryptocurrencies out there. To show how enthusiast is he about Ripple – he compared them with Microsoft.
LongForecast – a website that call themselves “The Economy Forecast Agency” doesn’t believe too much in Ripple’s XRP. Their Ripple price prediction for 2019 & 2020 is way above the average even now. They believe that ripple’s price will be between $0.1 and $0.2 until July 2021 where it will start another bull market for Ripple. Only in 2023 March they see a $0.49 price per Ripple.
OracleTimes on the other hand had the same vision as we do – $5 by the end of 2019. And the news so far seems to be in Ripple’s favor – even though the price isn’t. Ripple declined with 10% since 2019 started. But, given into consideration that now almost anyone can purchase Ripple using the credit card on Binance or from Coinbase Pro – more people would be able to buy it leading to a bigger adoption. And, we check the Bitcoin’s price since it was launch until today we can see that adoption is one of the most important factors.
Ripple (XRP) Price Prediction – Technical Analysis, Updated 1 April 2020
The analyst says that XRP/BTC recently surprised us since its price went up in a beautiful wave cycle that was composed of 5 waves. So we will see at least another similar 5 – wave cycle to the upside. He highlights two blue boxes, which should act as supports. In the analyst opinion, 2600 satoshis presents a great buying opportunity.
The analyst says that the risk/reward is pretty extreme right now, on both sides. He thinks XRP is well-positioned to provide some liquidity relief from a stressed banking system. Based on speculation alone, He sees it doing well under certain conditions. However, the community is damaged, and the potential for XRP to be declared a security still looms.
He thinks there’s a decent chance that red demand zone is tested before it moves up towards the purple supply zone again. It may even just be a very quick wick to the downside. We’ll really need to see that long term downtrend broken as well. If we happen to bounce in the current zone (blue) that would indicate that a long term higher low may be in, as it would mean that the demand zone has shifted upwards.
Alanmasters says Ripple Vs. Bitcoin ( XRPBTC ) just printed a higher low on the 25-March compared to the low hit on 6-Sept. ’19 for 200+ days consolidating. The price for XRPBTC made a strong bounce and is now trading above EMA10 while challenging EMA50.
These are bullish signals and can tell us that this altcoin pair is getting ready to move. We are also on a Friday/Weekend, meaning that this move that is just starting to develop can easily build up momentum next week if the bulls follow up.
Additional information plus multiple scenarios are also illustrated on the chart.
XRP Is On The Up
The analyst says that after Ripple ( XRPBTC ) hit a low on 8-Jan., prices have been creeping up slowly, printing higher lows.
If 0.00002657 (EMA100) can be conquered, expect to grow to 0.00002871 or higher.
The analyst says that there is a couple of signals pointing to a bullish reversal and indicating long position:
2. Stoch RSI oversold about to cross on daily
3. We are in the support zone so you can place some buys
1. Go long now (~ 2500 sats ) before immediate blue falling resistance is overtaken, which the analyst believes it’s risky.
2. Go long after a close of the daily and probable test above blue resistance (~2700 sats ) – Less Risky
3. Wait out the next moves to confirm direction. If afraid of bull traps, enter on a retest of flipped resistance at ~2970 sats level.
We can see some spike at this level.
If the XRPBTC pump, then the first stop would be 2700 Satoshi.
At this price, very Strong Trend line Long term Resistance.
If we break this, then Next Resistance is 2742 Satoshi.
Now let’s wait for this breakout.
The analyst says he is buying some XRP here and if it breakdown the first support, then he will exit from the trade.
Support: 2540 Satoshi and 2412 Satoshi.
Resistance : 2700/2746/3376/3999 Satoshi
Resistance = Targets.
The analyst says that catching 5th wave, when you are not sure, if the 3rd wave is even impulse, that´s pretty risky, but he can´t ignore this huge risk-reward ratio. If the price drops below the previous wave “1”, then his count is invalidated. But he believes we have a chance to create the 5th wave. That would be pretty bullish on XRP in the midterm. The analyst adds that he is already in LONG,with his entry at 2687 satoshi.
Eric is a cryptocurrency writer and editor. He has written on emerging technologies for over seven years, and has accrued over 2 million page views. He also runs the paid Coin Agora community. He is currently working on his first novel, which involves a cryptocurrency start-up.