After several years of stagnation, the market value of Ripple surged considerably between 2017 and 2018, surpassing Ethereum in terms of market worth and becoming the second most valuable cryptocurrency at the time. Although Bitcoin remained the undisputed leader, its price decline these last couple of years has given XRP an excellent opportunity to rebound and recoup some of its lost value.
The value of XRP has continually shown the potential to rise beyond its current levels. Most price predictions for the XRP price are positive about a future value rise. But will XRP hit $1,000? In this article, we’ll review XRP’s price potential and what to expect in the future.
Intro to Getting Started with XRP
If you’re new to XRP, don’t get it twisted if you hear the terms “Ripple” and “XRP” used in the same sentence. Ripple, the company behind XRP, has undergone many name changes recently. The company, founded in 2012 as OpenCoin, rebranded as Ripple Labs in 2013 and then as Ripple again in late 2015.
The Ripple protocol’s native cryptocurrency, XRP, was established to enable the settlement of international financial transactions. Furthermore, XRP is the initial digital currency of the permissionless, distributed, open-source blockchain platform XRP Ledger. You may invest in XRP, trade it for other cryptocurrencies, or use it to pay for Ripple network transactions.
Benefits of Owning XRP
Many individuals and businesses have noticed XRP’s potential and promise, although it is not nearly as popular or profitable as Bitcoin or Ethereum. With a market cap of around $22.1 billion, Ripple is the sixth biggest cryptocurrency. This high market capitalization shows that investors are confident in the asset’s capacity to endure market turbulence.
The main benefit of owning XRP is that it helps you to spread your investment risk more equally across your portfolio. The second is that it is used to lower financial organizations’ expenses while processing financial transactions. XRP transactions may be settled in as low as three to five seconds without a bank or central clearinghouse. This is a big improvement over Bitcoin’s ten-minute block time.
Ripple is an actual company in addition to being a cryptocurrency and a unique payment system. Ripple was developed to simplify cash transfers between banks, businesses, and other financial institutions. While banks are most of Ripple’s customers, the service is available to anybody who needs to send or receive money. Ripple is your best choice if you need to transmit money from point A to point B quickly and cheaply.
Will XRP Hit $1000?
If the price of XRP rises at a 25% annual compound rate, it will be worth $1,000 in 2057. And if the cryptocurrency’s price doubles yearly, it may reach $1,000 by 2034. However, none of these assumptions seem to be practical. Consequently, we don’t think it’s feasible to predict that XRP will reach $1,000.
It is unlikely that XRP will ever hit $1,000 since, although competitive, Ripple’s service is anticipated to be duplicated fairly quickly by other large competitors once the rules are clear. Furthermore, if the value of an XRP currency continues to rise, remittances done via Ripple will become prohibitively costly, if not impossible. As a result, the possibility of XRP hitting $1,000 is quite low.
XRP Price Prediction 2030
The price of XRP is predicted to hit all-time highs between 2025 and 2030 when the circulating supply is likely to increase by more than 80%. Already established relationships with financial institutions throughout the globe will aid in the development of Ripple technology. This also allows the XRP cryptocurrency to be embraced in more places.
However, price prediction algorithms based on artificial intelligence and machine learning do not anticipate XRP to increase by over $20 by 2030. It is worth noting that fundamental, pricing, and technical studies have all predicted that the price of XRP would reach $1,000 before the end of the decade. Many others, however, are doubtful because they feel the XRP cryptocurrency cannot be worth $41 trillion in total market cap.
Top 3 Exchanges To Buy XRP
Purchasing XRP via a reputable cryptocurrency exchange is the safest and most cost-effective way to buy XRP. Furthermore, the exchange you choose should accept your preferred payment method, whether debit, credit card, or ACH transfer. These are the top three cryptocurrency exchanges for purchasing XRP.
1. Uphold Crypto
Uphold is a multi-asset digital trading platform allowing users to trade 200 cryptocurrencies, including the most popular ones and various altcoins, novel tokens, and stablecoins. Customers may trade gold, silver, platinum, 37 other national currencies, and over 50 US shares. Uphold has expanded to serve over 10 million clients in over 150 countries since its debut in 2015.
Since its launch, the crypto exchange has processed over $4 billion in financial transactions. Customers benefit from Uphold’s compliance with regulatory organizations such as the Financial Conduct Authority (FCA) and the Financial Crimes Enforcement Network (FinCEN). The crypto exchange enables real-time cross-asset class trading and payment processing, bringing the utopian ideal of a future where everyone can access financial services one step closer to reality. You can get started on Uphold Crypto here.
Pros
- Accepts deposits via debit card, a bank transfer, or a SEPA bank account
- No minimum deposit requirement
- Offers multiple digital assets
- Quick and easy signup process
- Offers a user-friendly mobile app
Cons
- No demo account is available
- No leverage
2. Binance
Binance is the most popular cryptocurrency exchange in terms of daily trading volume. Because of its rapid transaction speeds and low fees, this exchange is a market leader in the burgeoning cryptocurrency business. Binance Coin is today’s most feature-rich cryptocurrency exchange. Customers may add fiat dollars or bitcoin to their accounts using their credit cards or a third-party cryptocurrency wallet.
Binance was launched in 2017 by CEO Changpeng Zhao, who later relocated the company’s headquarters from China to Malta, a cryptocurrency-friendly island republic. A wide range of cryptocurrencies is accessible, from the most well-known to the most obscure. Binance users can choose from a large range of cryptocurrencies. You can get started on Binance here.
Pros
- Binance offers multiple tutorials and customer support
- Offers a wide range of crypto assets
- Accepts deposits in both crypto and fiat currency
- Strong security features in place to protect customers
Cons
- KYC compliance is not suitable for traders seeking anonymity.
- No demo account
3. Crypto.com
Crypto.com has been in the crypto exchange business since 2016, making it an experienced participant. The crypto exchange is an excellent option for cryptocurrency investors of all skill levels since it provides a one-stop shop for all cryptocurrency transaction needs.
With Crypto.com’s user-friendly interface, purchasing XRP from the comfort of your own home is a breeze. You can complete your purchase after signing up and validating your identity. Some clients use the Crypto.com website to buy or sell digital currency. However, the crypto exchange also offers a tremendously user-friendly mobile app for iOS and Android smartphones. If you need to purchase XRP on Crypto.com, utilizing a debit card is your best option. You can get started on Crypto.com here.
Pros
- Multiple crypto assets to trade
- Offers a Visa card that lets you spend and earn points
- Allows users to earn interest on their crypto holdings
Cons
- Resources for learning are scarce
- High trading fees
- The app’s live chat help may sometimes be unresponsive
Added Benefits to Owning XRP
- Quick payment resolutions: XRP transactions are often completed within five seconds, but bank-issued wire transfers may take minutes to hours.
- Trading costs are often modest: According to the current exchange rate, a single transaction on the Ripple network costs just 0.00001 XRP or a fraction of a penny.
- An adaptable trading environment: The Ripple network can handle transactions other than XRP-based transactions. It can also be used to make purchases using a variety of other cryptographic and fiat currencies.
Final Thoughts
Now is the best time to invest in XRP since it is the cryptocurrency with the most potential for future growth. The current price of XRP, about $0.48, is much lower than that of other cryptocurrencies, such as Bitcoin and Ethereum. In addition, Ripple, unlike Bitcoin and Litecoin, cannot be mined, and its value has soared rapidly during the previous year. However, before deciding whether or not to invest in Ripple (XRP), you should carefully analyze all of the factors that influence the price of XRP. And avoid investing with the money that you cannot afford to lose.
