Ripple cryptocurrency (XRP)! Top 4 Ripple price forecasts for 2020!

Content

• Expectations for Ripple in 2020
• Ripple forecast for 2020 from the perspective of cryptocurrency features
• XRP cryptocurrency forecasts for 2020 from a perspective perspective
• Ripple forecast for 2020 from a news perspective
• Final Ripple forecast for 2020

In 2020, the Ripple cryptocurrency presented many surprises. The company has entered into dozens of agreements with banks and companies, and XRP coins have been added to the listing of many exchange platforms. Investors started talking about the effectiveness of long-term investments for Ripple, whose capitalization in just one year jumped from 236 million to 85 billion dollars, and the exchange price increased from $0.006 per 1 XRP to 2.7 USD. Such success could not go unnoticed, which made Ripple one of the most interesting assets for investment. The subsequent price reduction made adjustments to the plans of investors, who began to think about the relevance of such actions. What to expect from cryptocurrency in the future? What is Ripple's forecast for 2020? We will consider these and other questions below.

Expectations for Ripple in 2020

Ripple cannot be called a cryptocurrency in the usual sense of the word. This is a platform designed to carry out international transactions with low fees and without delays. As for XRP, it plays the role of “fuel” (a special tool) used during the operation. The peculiarity of Ripple is that the system is located outside the blockchain chain, characteristic of other virtual coins (Litecoin, Ethereum and others).

An important feature of XRP is the absence of mining as such. The creators of the Ripple company issued 100 billion coins back in 2012, some of which (about 40%) went on sale, and the rest of the coins remained in the hands of the developers. At the end of 2020, it was announced that 55 billion coins had been deposited into the escrow account. The creators of Ripple plan to release 1 billion coins to the market every month. The market reacted positively to this step and the XRP rate strengthened. The growth continued until January 5–6, 2020, after which the price went down again. As of March 30, 2020, the price of Ripple is $0.51. Moreover, the bearish trend continues to dominate the market.

The next aspect that has a positive impact on Ripple’s forecast in 2020 is the presence of a technical commission. Its value is 0.00001 XRP. The mentioned amount is charged for each transaction and is destroyed after collection. Its essence is to protect the network from attacks from intruders and attempts to collapse the system. Thanks to commission burning, the number of XRP in the network is gradually decreasing, which is an additional limiting factor for the rate.

Thus, since the beginning of 2012, the number of coins has decreased from 100 billion to 99,992,405,149 coins. As a result, cryptocurrency is less susceptible to inflation and can withstand negative events more calmly. By 2020, there will be even fewer coins, which increases their value and contributes to an increase in the price level.

An equally positive factor is the operating principle of the cryptocurrency network. Unlike other virtual coins, XRP allows for 1,500 transactions per second or more. As a result, Ripple is not afraid of such a concept as scalability. The network is built in such a way that all transactions between users take place as if on credit, based on trust.

Due to the peculiarities of the platform, not only Ripple, but also other currencies can act as a monetary unit. To successfully complete a transaction, two conditions must be met: trust between the parties and compliance with the established limit. For example, Michael decided to exchange 400 XRP coins for $200. At the same time, there is George on the network, who has 20 USD and plans to buy 400 Ripples. These people do not know each other personally, but they have a friend, Claudia, who can play the role of intermediary.

The transaction is then carried out as follows. Michael gives Claudia 400 coins, which the latter gives to George. In turn, George gives Claudia $200, and the girl gives the money to Michael. As a result, the parties conducted the transaction through a proxy. The Ripple platform is Claudia from the example. The situation is considered in a simple situation, but the meaning does not change.

Since 2020, banks and companies have been actively testing and connecting to the system, reducing transaction costs. Today, the Chicago Mercantile Exchange, Japanese and Korean banks, Western Union and other companies work with Ripple. The XRP coin has been added to the listing of the largest exchange platforms, namely Bit Oasis, CoinRail and others. There are active conversations about including Ripple in the list of Coinbase cryptocurrencies, but so far the matter has not progressed further than talk.

Against this background, Ripple’s growth forecast for 2020 is very comforting. Experts are confident that a trend reversal and an increase in the exchange rate price is a matter of time. Ripple has created a base of influential companies and banks that not only work with the platform, but also invest millions of dollars in its development.

Ripple prospects in 2020: arguments for and against.

Ripple has been a leader in the cryptocurrency market for more than 5 years. In January 2020, XRP even managed to rise to second place in the capitalization ranking, displacing such a digital giant as Ethereum. But at the moment, the cryptocurrency community has quite conflicting opinions about Ripple. Some call it one of the main technologies of the future, others refuse to recognize it as a cryptocurrency at all.

I decided to break it all down so that you could take someone’s side yourself, and I compiled a list of arguments for and against the growth of Ripple.

Reasons why Ripple will grow in 2020

• Technological advantages

Many experts, when it comes to XRP's growth prospects, rely on the platform's technical advantages. They consist in the fact that the Ripple platform allows you to carry out operations several times faster than others do.

Example: The Bitcoin network only handles up to 15 transactions per second, while Ripple manages about 1,500.

Thus, after introducing cryptocurrency into the technological process, transaction costs are reduced, and transactions are completed instantly.

• Cost of operations.

The reason follows from the previous one. The faster the transactions take place, the less time and effort it takes, and the cheaper the cost of the transaction itself.

Example: the cost of a transaction on the Bitcoin network is currently about $1. While the Ripple transaction cost is 0.00001 XRP (1000 times less than 1 ruble).

• Increase in the number of partners.

I think I won’t lie if I say that every month Ripple announces another partnership with a bank or other financial corporation. Already at this moment, the platform has a huge level of trust among representatives of the banking industry, and the prospects in this area lead straight to a bright future.

• Security level.

XRP is not mined. And this means not only loyalty from countries where the environmental lobby operates, but also an increased level of network security. After all, the absence of mining eliminates the “capture” of capacity.

• General market correction in the first half of 2020

At the end of 2017 and the beginning of 2020, the cryptocurrency market experienced incredible growth, the value of the total capitalization was about $800,000 billion. But from January of this year to the present, the cryptocurrency market has been in a stage of deep correction. Prices for tokens are now such that they simply cannot be lower. The story is absolutely the same with Ripple; it will be practically impossible to fall even lower than the current level of $0.4-0.5 by the end of the year.

The Rise and Fall of Ripple in 2020

Reasons why the Ripple rate may fall in 2020:

• A large share of tokens belongs to developers.

Ripple Labs owns 67% of XRP tokens. This means that they have the ability to manipulate the exchange rate. If they initiate a large release of tokens into the market, XRP tokens will instantly become worthless. This is the essence of the lack of decentralization in

• XRP tokens are not part of Ripple Labs.

Many people mistakenly believe that buying XRP gives them the opportunity to invest in the development of the Ripple blockchain. Actually this is not true. The success of the company does not in any way affect the success of the cryptocurrency itself. But, I want to say right away that in practice this rule does not work, the reason for this is the illiteracy of investors. So, when the company’s partnership with financial companies is announced, people start buying XRP tokens and the rate goes up.

Ripple forecast for 2020 from the perspective of cryptocurrency features

When assessing the future of cryptocurrency, it is worth proceeding not only from the current developments and achievements of companies, but also taking into account the features of cryptocurrency. Here, the opinions of analysts, who in their examples point to the positive and negative nuances of the virtual coin, differ.

Unlike competitors, Ripple developers did not focus on the development of cryptocurrency. For them, the main task is to promote the platform and gradually replace the SWIFT payment system. At the moment, the competition between SWIFT and Ripple can be compared to the fight between an elephant and a pug, but in the future the situation may change.

The Ripple platform compares favorably with its competitors. Its features:

1. Availability of existing agreements with many banking institutions, for example, the National Bank of the UAE.
2. Working to increase the functions available to clients, making the system more user-friendly and interesting for investors. Recently, it became possible to exchange XRP for precious metals (with the participation of partners).
3. Advantages when conducting transactions. Experts give a positive forecast for Ripple for 2020, basing their conclusions on the following advantages - low commission (about $0.003 as of March 30, 2020), a large number of transactions per second and high transfer speed. There is no need to confirm the transaction, so transactions between the parties take place in a short time.

The Ripple company has radically changed the understanding of the mechanism of international transactions between banks. All transactions are carried out with a guarantee of security and without delays. Already today, the use of XRP in the banking system is more profitable and convenient than SWIFT. The difficulty is that control of SWIFT is in the hands of a consortium of banks and drastic changes (at least in the near future) cannot be expected.

Along with the positive qualities, there are also negative features - a monopoly in the banking sector, which slows down the advancement of technology, as well as uncertainty on the part of government authorities towards cryptocurrency. The last factor applies not only to Ripple, but also to other virtual coins. Against the backdrop of strong volatility, investors play it safe and try not to invest large sums until the exchange rate becomes stable. Despite the decrease in volatility, the value of virtual currency continues to decline, albeit slightly. To invest money, investors need a trend reversal.

Another difficulty that influenced the position of bankers was the presence of a large number of coins in the hands of the creators. No one can guarantee that at some point additional XRP will not appear on the market, which will lead to a price collapse. This problem occurred earlier, but after transferring 55 billion to the escrow account, this risk was leveled, which allowed investors to breathe more freely. There is little left to do - follow the chart and catch the beginning of a bullish trend.

Based on the features of XRP, its pros and cons, Ripple’s forecast for 2020 can be called positive. Experts agree that by the end of the year the cost of virtual currency could reach 2–3 USD per coin, and in 2020 this figure could double. It’s not worth counting on a jump in the exchange rate, which took place in 2017, and an increase in price to 20–30 dollars. The limiting factor here is the large number of coins (100 billion). It’s hard to imagine that Ripple will surpass Ethereum or Bitcoin in terms of capitalization in the near future.

Here's How Ripple [XRP] Can Reach $589 or Even $11,400 in One Day

Recently, the XRP community has been divided along the lines of those who believe in the theory and those who do not. The theory in question is whether XRP will reach $589 before the end of the year or even $10,000 per day.

Is this really possible for the Ripple token?

According to the XRP community, primarily the $589 theory has 3 possibilities of occurrence.

The first and most widely discussed method is that the launch of xRapid will push up the price of the coin due to a huge increase in trading volume. Secondly, an increase in the price of XRP, since commissions on this trading volume will determine the price. There are also supporters who believe that 58.9 is the atomic weight of cobalt, which is the name of the update intended to increase the speed of XRP.

Read also: Crypto Christmas tree in Toronto The most likely of the three is that the launch of xRapid will push the price of XRP to $589. xRapid is Ripple's fastest cross-border transaction product to date and uses XRP as an intermediate currency for cross-border transfers. This means that any volume coming in from cross-border payments will directly translate into trading volume for XRP, since XRP. needed for the transaction will be bought and sold on exchanges on the sending and receiving side of the money transfer respectively. The Working Money YouTube channel broke down the economics of what would happen if xRapid launched the next day. He calculated the average daily fluctuations of XRP and the average daily volume of the coin, which amounted to 7.25% and $191 million, respectively. He then went on to hypothesize what the price of XRP would be if Ripple captured 1%, 5%, 10% and 100% of SWIFT's existing market share. SWIFT processes approximately $4.7 trillion every business day. If xRapid were to take 1% of this business, xRapid's daily volume would reach $47.8 billion. Considering that this is over 250 times the average XRP trading volume, it represents a swing of 1816% by extrapolation, which represents a price of $5.56. Similarly, the XRP price for 5% of SWIFT volume would be $26.62 , as trading volume is about $239 billion. 10% of SWIFT volume would be an XRP price of $55.6.

XRP was targeted at $10,000.

When XRP was created, it was designed to replace both institutional and retail financial systems in all markets around the world. How do we know this? Studying how XRP works makes this obvious. A somewhat famous quote from Ripple Labs co-founder Arthur Britto provides a tantalizing clue. In 2020, he wrote: "XRP must be scalable to accommodate 7.5 billion people."

We'll come back to this quote, but it gives an idea of ​​the scale of Ripple's ambitions, which will be used by populations around the world. First, let's look at some of the main features of XRP that support my claim that it was designed to have a value of $10,000 (or $11,400 to be more precise). With Liquid Sidechain, users can use Liquid BTCAndreas Antonopoulos, author of Mastering Bitcoin and a well-known Bitcoin proponent, spoke about Blockstream's liquid sidechain, the first Bitcoin production sidechain, during a Q&A session on YouTube. Here the author also talked about whether there is any competition between Bitcoin Liquid Sidechain and XRP/Ripple regarding the use case. Antonopoulos started by talking about Liquid Sidechain in which he stated that the product was developed by Blockstream, a well-known company in Bitcoin sphere, which has participated in numerous Bitcoin-related projects. Initial discussion of Bitcoin Liquid's sidechain solution began in 2020. Here, a sidechain refers to a separate blockchain that is connected to the mainchain through a two-way peg, a mechanism that allows assets to be activated at a given rate. Andreas explained the sidechain as:

“You can move a value from the Bitcoin chain to this other blockchain, use it there for some purpose, and then move it back.”

Sidechain introduces a concept where the user of the main chain must send coins to an output address, which is then locked so that the user cannot use it for other purposes. This is followed by a confirmation that is passed down the chain once the initial transaction is completed. After this, the same number of coins will be issued on the side chain, which can subsequently be used by the user. The same concept applies when coins are transferred from the main chain to the side chain.

XRP cryptocurrency forecasts for 2020 from a perspective perspective

If we compare Ripple with competitors who are ahead (Bitcoin and Ethereum) or “breathing in the back” - Bitcoin Cash and Litecoin, the XRP cryptocurrency has more prospects for growth. The reason for this statement is explained above. The bottom line is that Ripple is not a pure virtual coin. This is a tool that ensures the operation of powerful technology for financial settlements.

Analysts are confident that Ripple's value will rise in the coming years. They support their claims with the following factors: high speed of operations and minimal costs, network reliability and security. At the beginning of 2020, the price of XRP exceeded the 3-dollar mark. Despite the short-term growth, virtual currency has shown potential and the ability to grow to this and even greater levels.

According to the most optimistic forecasts, in 3–5 years the technology will be able to capture 30–50% of bank transfers, and by 2027–2030 completely replace SWIFT. Such cooperation is beneficial for everyone - not only Ripple, but also banks, which create favorable conditions for clients and increase opportunities. Existing protocols on the network guarantee transaction security and user anonymity (if required). Unlike blockchain technology, which is typical for competitors, it is easier to establish regulation and resolve the issue with legislative authorities.

If the company continues to attract banks and there is a breakthrough in the attitude of financial institutions to the system, the XRP rate in 2019 will exceed the $5-7 mark, and the capitalization will rise above the level of Ethereum. Today, the difference in this indicator between coins is $19 billion, but this threshold is easy to overcome with the growth of Ripple against the backdrop of stagnation in the Ethereum rate.

When analyzing the prospects, it is worth taking into account the risks that are typical for virtual currency. Sharp price fluctuations have shown that today XRP can hardly be called a stable coin. From January to the end of March, the price fell sixfold, which led to greater caution on the part of investors. Banks and companies are taking a closer look at the situation and are in no hurry to invest large amounts of money in technology.

Tightening legislation in relation to cryptocurrencies (in China and India, for example) has a negative impact on the exchange rate price. Government regulators have not yet been able to find a mechanism that would allow them to take control of cryptocurrency and introduce it into the financial system without consequences for the economy. Taking these factors into account, forecasts for the XRP cryptocurrency for 2020 are made from two perspectives:

• Government regulators find a way out and take control of the virtual currency market. In this case, the use of cryptocurrencies is legalized, which allows increasing demand and expanding the scope of application. The disadvantage is that with this development of the situation, virtual coins will lose their main feature - anonymity. As a result, exchange rate fluctuations will decrease and Ripple will gradually grow depending on the speed of technology implementation in the banking sector.
• Cryptocurrency will be prohibited. In this case, all virtual coins will significantly lose value. As for the Ripple company, it will continue to work, because XRP is a coin that plays the role of a tool for conducting transactions, nothing more. Against the backdrop of a general decline in prices, the Ripple rate will also go down, but over time it will return to its original position. It is worth noting that the likelihood of such a scenario is minimal, because the current financial system needs changes. It is hardly possible to imagine that regulators will refuse such innovations.

Even with a successful forecast, experts are confident that Ripple is not yet ready to compete with SWIFT. Therefore, in the medium term, the company’s main task is to attract new partners, expand the network, and promote XRP on exchange platforms. Despite the negative impact of volatility, this factor has a positive effect on the system as a whole. Sharp price changes attract speculators to the market. If the exchange rate goes into a calm direction, the company will expect an outflow of capital, which will lead to a decrease in price.

Prospects and forecast of the xrp cryptocurrency for 2020

When you buy XRP, it's more like investing in the stock of a new growth company than buying digital money like Bitcoin.

Why will Ripple rise in price and not fall in price?

Project idea and financing. The key idea of ​​the Ripple project is to enable banks to significantly reduce their costs for interbank international transactions. Transferring funds from a bank account, for example, from Brazil to a bank account in India today takes place through SWIFT. This is expensive and time-consuming, both for the client and for the bank. Ripple reduces this period from 5-6 days to 1-2 minutes.

The most important thing is that more than 200 banks in the world have already trusted Ripple, tested the technology and began pilot projects to implement algorithms. These are banks such as: National Bank of Abu Dhabi (UAE), Nomura Trust, ORIX Bank and Mizuho Bank (Japan), UnoCredit.

People from investment funds and digital giants also believed in Ripple: IDG Capital Partners, Core Innovation Capital, Camp One Ventures and Venture-51. All these steps create a very solid foundation for the development of Ripple. Each news about the launch of the next bank will push the price tag for XRP up.

Ripple today is the only coin that can be used to directly pay for gold and other precious metals at Ripple partner banks. It is very important that national banks of the largest countries in the world began to actively test Ripple technology.

Ripple is not a blockchain as we are accustomed to it. Ripple is a centralized system controlled by one legal entity, one large group of companies.

This is a disadvantage compared to anonymous and fully decentralized coins, but at the same time, it is obvious that during an information attack on blockchain-based coins, their rate falls, and Ripple actively grows. At the end of 2020, XRP confirmed this rule twice.

Centralization, as the history of Ripple shows, does not prevent the rate from growing, since the center that owns the coin has a very detailed project roadmap.

Strong team, office in San Francisco and 9 world capitals. It's just a fact. A serious company means serious infrastructure in the world.

Artificial deflation. You probably already know that every transaction with XRP burns 0.00001 XRP in the system. This is not even a commission, but a deliberate algorithm for destroying coins, which in the future will automatically increase the cost of coins.

Of course, in 2020, we will not feel this, but on the horizon of 5-7 years, this rule, combined with the fact that in the Ripple system all coins have already been issued and nothing else will be issued, will make itself felt.

Price prospects

There is speculation that Ripple could be listed on Coinbase. In short, trading on Coinbase is a success.

Currently, only top players such as Bitcoin, Litecoin, Bitcoin Cash and Ethereum have received this honor. If this is not speculation, and Ripple joins the ranks, then the price of the currency could increase by 150 - 500%. The reality of this outcome is reinforced by the story of Litecoin, which, after appearing on Coinbase, rose in price from $2 to $20.

Thus, as soon as positive news about a cryptocurrency appears on the network, its rate rises sharply, and vice versa, if the news has a negative connotation.

The fact that today the Ripple currency is available on 40 different exchangers, and the number of available trading pairs has exceeded 140, also confirms the demand for the asset and speaks of its prospects.

The addition of the next major market player in the person of XRP looks more than logical on the part of the crypto exchange (we do not take into account all sorts of forks like Bitcoin Gold, the real value of which tends to zero).

Ripple plans to break the SWIFT monopoly by partnering with banks and financial institutions around the world. As soon as information about another successful partnership appears in the news, the rate of this cryptocurrency rises - this is natural.

In the third quarter of 2020, the price of one Ripple coin may rise to $4. Experts are confident that before the end of the month the rate will rise to 1.2 cu, that is, by about 20% of the current price.

Considering the fact that in October 2020, a financial institution first used XRP to solve a liquidity problem, this forecast seems too pessimistic.

In fact, Caullix became the first international institution to bet on xRapid, Ripple's solution using XRP as a liquidity tool. As a result, cross-border transfers from the United States to Mexico are significantly cheaper than before.

Ripple is preparing a new product called xVia. It is designed specifically for banks and financial institutions to make international transfers easier.

Lately we have seen several huge jumps in the Ripple price. In the first half of 2020, the price of Ripple increased by almost 4000%. Having looked at the numbers in more detail, at the moment this cryptocurrency is listed on 40 different exchangers, and in total there are more than 140 trading pairs available.

If this company’s business goes just as well, then, as we have already said, by the end of 2020 the XRP rate could rise up to $5.

Forecast by month

Ripple forecast for July 2020. The second summer month will also be marked by negative dynamics: -16.4% per month. The Ripple rate for July 2020, according to expert forecasts, will be at $0.73 per 1 XRP and by the end of July will fall to $0.66.

Ripple forecast for August 2020. The Ripple rate for August 2020 will maintain a downward trend: $0.61 at the beginning and $0.51 at the end of the month. Changes for August will also amount to -16.4%.

Ripple forecast for September 2020. In September, the Ripple cryptocurrency will begin to grow. The Ripple rate for September 2020 will change by 15.7%: it will increase from $0.51 to $0.59.

Ripple forecast for October 2020. The Ripple rate for October 2018 will maintain an upward trend and will also show positive dynamics of +15.3%. The coin price will change from $0.59 to $0.68 at the end of October.

Ripple forecast for November 2020. In November there is a slight decline again. Analysts predict that the Ripple rate for November 2020 will change by -1.5%, so $0.68 per 1 XRP at the beginning of the month will turn into $0.62 at the end of November.

Ripple forecast for December 2020. The last month of the year will also see a gradual decline in the value of XRP tokens. Ripple rate for December 2020: $0.67 → $0.56 (-16.4%).

What are the risks?

The main risk of all cryptocurrencies does not yet bypass Ripple: the cryptocurrency market remains semi-legal in many countries, which creates barriers to entry into the banking infrastructure of some countries.

The Chinese authorities have banned raising funds through ICOs, which has become a shock for the digital currency market. Perhaps in the near future similar restrictions may be introduced in South Korea.

The emergence of new restrictions becomes a threat to the development of the digital currency market and to the Ripple project, including. If central banks continue to attack cryptocurrencies, then investors will be forced to abandon such investments.

In this case, quotes will begin to decline rapidly, which will return the situation to the beginning of 2020. In addition, the world's largest banks may launch their own digital currency next year, which could significantly reduce demand for Ripple.

What analysts say

According to the Wall Street Forecast, the Ripple cryptocurrency will cost $1,000 in 2020. Such an ambitious statement must be supported by equally powerful factors that could potentially influence the rapid growth of the XRP price.

The popularity of a particular cryptocurrency project, as well as the cost of its tokens, do not always depend on objective things, such as the technological base of the platform, the experience of the developers, the relevance of the solutions they offer, etc.

Analysts are confident that the price of cryptocurrency is primarily influenced by news.

Often they have nothing to do with reality, but users tend to take them at face value and are not always able to distinguish fakes and rumors from real events.

A clear confirmation of this is the example of Ethereum, the price of which fell sharply after fake news about the death of Vitaly Buterin, who allegedly died in a car accident.

As for Ripple, the latest news related to the coin has a positive content.

Experts include the following important prerequisites for the further growth of cryptocurrency:

• low commission for transactions in the Ripple network → cheap transactions;
• good scalability of the Ripple network → high network throughput;
• efficiency of the Ripple network → transfers take a matter of seconds.

Among other things, expert opinions also agree that the cost of XRP coins will be positively affected by the absence of the need to mine new coins, since their quantity is provided in advance.

As we have already said, all 100 billion coins were immediately put into circulation, so there is no mining on the Ripple network.

Coins will naturally rise in price as their supply gradually decreases. Moreover, Ripple coins are the only digital currency that can be exchanged for precious metals and vice versa - this complements the prospects for the Ripple cryptocurrency for the current year.

Negative factors

Of course, any cryptocurrency market is characterized by instability, so we are not talking about 100% forecasts. This is because the position of cryptocurrencies is influenced by numerous factors.

First of all, it is worth talking about investor sentiment, which changes dramatically under the influence of ordinary rumors. For example, the value of Ethereum (the second largest virtual currency) collapsed after fake news was published on resources about the death of its developer in a car accident.

However, after the refutation of news of this kind, the situation on the market is restored - such a factor cannot be classified as long-term.

Among the negative factors, experts cite the policies of countries that prohibit the use of digital money, believing that the uncontrollability and anonymity of cryptocurrencies can lead to violations in the financial system.

Thus, the authorities of the Celestial Empire have already issued a ban on raising funds through ICOs. The same restrictions are quite likely in North Korea.

Positive factors

It is worth noting the positive factors, the weight of which is no less, if not greater, than that of the negative ones. Encouragingly, Ripple Labs has signed agreements with some major banks in 2020.

One of them (National Bank of Abu Dhabi) represents the United Arab Emirates and has assets of US$230 billion. 6 Japanese banks also connected to the system, including Nomura Trust, ORIX Bank and Mizuho Bank.

It is also worth noting the expansion of the system’s scope of activity - an additional service was recently launched that allows you to make transactions with precious metals.

Thus, Ripple has become the only digital currency system that allows for exchange transactions with precious metals - this has significantly increased the degree of investor confidence. Now some investment and trust funds also invest in foreign currency.

The cryptocurrency market is also positively impacted by the fact that banks in the USA, Japan and some European countries have announced the legalization of payments made using these units - with cryptocurrency you can pay for college or university studies, pay for household appliances, clothing and even utilities.

All this can trigger the rapid growth of Ripple, so many experts are of the opinion that the 4th place that this currency occupies on the market today is not the limit of its potential.

In general, cryptocurrency experts agree that the price of Ripple will continue to grow actively. Presumably, the exchange rate to the dollar could be from 0.6 to 1.0, or even 2.0 XRP/USD, so the current price of 20–25 cents per unit is considered very tempting for making purchases.

However, some cryptocurrency experts say Ripple's popularity could lead to increased speculation.

Ripple forecast for 2020 from a news perspective

Since the beginning of 2020, many events have occurred that have directly or indirectly affected the value of virtual currency. Let's highlight the events that deserve the most attention:

• On January 5, 2020,
  the Internet community was actively discussing the problem with Ripple and the banking sector. Many experts argue that banks are not interested in XRP as a transaction tool. Surveys of people close to the banking business showed that at the moment Ripple is only being tested, but there is no direct application in the banking sector. One of the US correspondents conducted an investigation, as a result of which he did not find a single fact of actual use of XRP by banks. Bankers are in no hurry to introduce new technology, because the current system already works. In turn, Ripple’s management responded that pilot projects have shown effectiveness, and the transition to new technology is a matter of several years, and possibly decades.
• On January 11, 2020,
  news appeared that MoneyGrem had begun testing XRP. The company's management explained this step by the desire to speed up payments using the most promising technology.
• On January 28, 2020,
  the first news appeared about the inclusion of the XRP cryptocurrency in the listing of the BitOasis crypto exchange. The first operations took place on January 30. Clients of the exchange platform now have access to placing orders to buy and sell, as well as conducting transactions with Ripple. BitOasis management explained the decision by the great demand for cryptocurrency.
• On February 14, 2020,
  Western Union announced testing of Ripple. Company experts said that at this stage the main task is to study the capabilities of the technology and its impact on the development of the translation system. The details of the cooperation are not disclosed, but the fact of such a partnership has a positive effect on the prospects of XRP
• On February 21,
  a large bank from Brazil, Itai Unibanco, connected to the Ripple system. The financial institution plans to use xCurrent technology when carrying out cross-border transfers and financial transactions. By the way, the mentioned bank occupies a leading position in Latin America in terms of capitalization. Cooperation with Ripple allows you to establish cooperation with financial institutions in China and Canada.
• On March 7, 2020,
  the intention to release a mobile application based on Ripple was announced. The developer is a consortium of 61 Japanese banks. It is planned that the program will be in use by the fall of this year. If you look at the experts’ forecast for Ripple for 2020, the mentioned factor may have a positive impact on the value of the virtual currency. The purpose of the application is to give people a powerful and reliable payment tool. At the same time as ordinary users, the application will also be used by banking institutions themselves.
• On March 29, 2020,
  Ripple was announced to be listed on LBX. On the same day, it was announced that XRP was being included in the Uphold cryptocurrency wallet. According to management, the decision to include Ripple in the listing was made after a survey among Twitter users. More than 12 thousand people took part in the voting and 51% of respondents voted “For”. It is planned that full integration will occur within 1–2 months. Another positive news on March 29 is plans to use Ripple in 8,000 stores in South Korea, which becomes possible after the conclusion of an agreement between the Bithumb exchange platform and the payment operator Korea Pay. As a result, by the summer of 2020, residents of the country will be able to pay for goods and services in many retail outlets.

Will the Rothschilds raise the price of Ripple (XRP) to $589?

Recently, a theory has become popular in the XRP investor community, emanating from a mysterious insider with the nickname Bearableguy123, according to which the price of the third cryptocurrency could reach $589 before the end of this year.

According to Bearableguy123, the main reason for the growth will be the release of the xRapid product, which will help Ripple capture a large part of the international payments market, writes 2bitcoins with reference to AMBCrypto.

The fact that Ripple will launch xRapid, using XRP tokens, in October was recently announced by Sagar Sarbhai, head of regulatory relations at Ripple in the Asia-Pacific and Middle East regions.

Why does anyone even pay attention to Bearableguy123's forecast? Bearableguy123 is rumored to be a Ripple insider, and last year he made some very accurate predictions about future deals between Ripple and major companies. All of the insider’s predictions turned out to be correct, and he even foresaw the cryptocurrency’s rise to $3.65 at the end of last year.

In addition, a drawing symbolizing the dominance of XRP over Bitcoin and the dollar has become popular in the community.

The picture shows Ripple CEO Brad Garlinghouse as a knight, next to him is the silent king and Bearableguy123 himself. On the right is the hand of the puppeteer, which led many to the theory of a connection between Ripple and the famous Rothschild banking family.

It has also become popular to calculate the price of Ripple (XRP) based on how much of the cross-border payments market share xRapid will capture from the global payment system SWIFT, which currently processes approximately $4.7 trillion a day.

If xRapid takes even one percent of the market share, Ripple's trading volume will increase to $47.8 billion. In this case, the price of the cryptocurrency will rise to approximately $5.56. And 10 percent of the SWIFT market will raise the value of the coin to $55.6. If Ripple completely replaced SWIFT (which is currently not possible), the price of XRP would only reach $526.

Ripple CTO David Schwartz voiced his predictions about 10 months ago: “It all depends on our ambitions. What will happen if Ripple takes the current market share of Bitcoin? The coin will rise in price to 2 dollars. What if Ripple is widely used for international payments? Most likely it will rise to $120.”

In any case, the likelihood of XRP rising to $589 is negligible even in the long term, let alone before the end of the year. The launch of xRapid may lead to an increase in XRP, but the pump is unlikely to be too noticeable, suggests 2bitcoins.

One way or another, after the news about the imminent launch of xRapid, the XRP token has risen in price by 18% over the past 24 hours, to $0.32.

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On topic: 11/04/2019 Ripple (XRP) expects strong growth - analyst 08/15/2019 Bitcoin (BTC) fell below $10,000 - and this is not the limit. Ripple (XRP) collapsed by 15% 07/26/2019 Ripple (XRP): token sales jumped by 48% 06/18/2019 Ripple (XRP) and xRapid are integrated by payment giant MoneyGram 06/07/2019 Ripple (XRP): Thailand's largest bank integrates the XRP token

Final Ripple forecast for 2020

As can be seen from the article, the Ripple price in 2020 depends on many factors, but so far the trend is positive. Let's consider the likely development of events taking into account the current situation.

The given forecast for 2020 is approximate and based on an analysis of changes in quotations over previous years. In reality, the situation may change depending on the position of government authorities, the success of the company and the activity of introducing XRP into the banking sector.

Source: tehnoobzor.com