To sign up for our daily email newsletter, CLICK HERE
Ripple is one of the oldest crypto companies out there: launched in 2012, it aimed to become a global payment system — and to replace SWIFT eventually. The company uses its own cryptocurrency called XRP that’s supposed to be used primarily to conduct transactions inside the system. However, XRP is still a crypto asset that has its own market price, and while it’s worth not much now, many crypto experts expect it to rise once again. In this article, we’re going to provide you with a quick overview of those predictions.
Ripple is a rare example of a company that uses crypto not for promoting decentralized financial operations, but exactly for the opposite: the company wants to create a unified financial network for the entire world. Moreover, while projects like Bitcoin do not belong anyone, the Ripple network is owned and operated by the company itself. And XRP doesn’t even depend on the PoW mechanism Bitcoin and many other projects use — instead, it has its own mechanism that makes transactions extra fast.
The main protocol is designed to allow quick and cheap transactions between countries, and it can be used to exchange crypto and fiat assets. When you make a transaction, the system makes you pay a small fee of 0.00001 XRP. This is just one factor that makes XRP more and more expensive. There is also a finite amount of these coins — less than 100 billion, and that number gets reduced every time you make a transaction since XRP gets destroyed in the process.
There are also many other factors, including the simplest one: speculation. Like any other crypto asset, XRP is actively traded on the crypto market, and that additional demand increases the overall price. However, is that pressure enough to really make this XRP coin skyrocket? Can XRP reach 1.000 any time soon? Let’s get to the experts’ opinions.
XRP has seen its high and lows: it was at about $1.80 in April 2021, but now it’s worth only about $0.30. However, many crypto enthusiasts and experts believe that this unique project may really be the next global payment system, so there are all reasons to believe that XRP will eventually skyrocket. Coin Price Forecast thinks it can reach $0.80 somewhere after 2030, but there are also more optimistic predictions: according to PRIME XBT, XRP can hit $50 by 2028.
Anyway, those numbers are far from $1.000, so is it possible for XRP to reach that price? The answer is: that’s very unlikely, if something completely unpredictable isn’t about to happen.