After the hard crypto winter of the last 6 months, the prices of most cryptocurrencies are slowly recovering. Outstanding here is the performance of the Ethereum course, which was able to double its price again within the last 2 months. Other large projects such as XRP could not keep up with this growth and increased by “only” 25%. However, XRP is also known for always following up a little later. In this XRP forecast, we will analyze the medium-term growth potential of the XRP price.
What is Ripple XRP?
Ripple is a San Francisco-based FinTech company behind the global payment platform RippleNet. The company has developed the XRP blockchain with the associated token XRP. The Ripple company was founded back in 2004, even before the cryptocurrencies were invented. They tried to create an Internet of values and create their own money, and at that time created RipplePay. Their network was small and the software was centralized. That’s why RipplePay later merged with another company called Open Coin in 2012, and together they formed what is now known as Ripple.
The XRP token is the digital asset in the XRP ledger that provides liquidity on demand to financial service providers. It also serves as a bridge currency to facilitate cross-border transactions. The transaction fees for XRP are 0.00001 XRP or 10 drops, which is less than 1 cent per transaction at today’s price. With XRP, payment providers can reach smaller markets, process payments faster and reduce foreign exchange costs. The XRP ledger is open source and is managed by a global and independent community, with Ripple being an active member.
XRP price at 40 cents – buy NOW?
The XRP price has been consolidating between $0,30 and $0,40 for some time. Other tokens like MATIC have managed to break out of their consolidation and have already been able to make big profits. However, it seems as if not much has happened with XRP lately in terms of price development. As already mentioned, Ripple is rather a laggard when it comes to adapting to the general market events in the crypto world. Every time the crypto market starts to recover, XRP takes its time to do the same and suddenly rises.
We assume that the XRP price will catch up with the crypto market in terms of performance after breaking through the $ 0.40 mark.
Price Forecast – Where will the XRP price go up?
The next two obvious targets for XRP are the psychologically important price values of $0.50 and $0.60. In fact, in Figure 2 we can clearly see how prices tend to consolidate briefly before continuing their downtrend. Since the trend is up this time, we expect the same price development during the current bull market.
However, it is important to keep certain things in mind:
The market could be very volatile after the Ethereum Merge. This is due, among other things, to the rumors that the Ethereum miners are planning attacks on the proof-of-stake ecosystem in order to weaken it, since the merge deprives them of the income basis.
Therefore, make sure that you hedge your positions with stop-loss orders at the beginning of September to protect your capital from a total loss. In the event that things develop in a positive direction after the merge, a loose stop loss rate can not hurt.
