Ripple (XRP) price prediction 2019
In 2018, Ripple (XRP) was often in the news. The company behind the digital currency collaborated with many financial institutions, and expectations were high.
But first: what is Ripple anyway? XRP and Ripple are often confused. However, there is a clear distinction. Ripple is the company behind XRP, the token that is used on the Ripple network. Ripple’s goal is to connect the current financial world with cryptocurrency. In terms of ideology, Ripple is therefore a bit of an odd man out.
What makes XRP stand out from other coins as well is that XRP doesn’t use blockchain and that it isn’t mined. XRP uses a technology that is similar to that of blockchain, and all coins are put into circulation by the Ripple company.
Enough background information for now, what can we predict from XRP and Ripple this year?
What will the XRP price do in the near future?
If we only we could answer that question. Unfortunately we don’t own a crystal ball so making exact predictions is impossible, but we can tell you what factors might affect the price.
If we look at the past, we see that news about XRP and Ripple can have a lot of influence on the price. For example, in September 2018 it became public that Ripple was going to launch a new platform called xRapid. For a short period of time after the news broke, the price surged. It doubled in just four days, after which the value of XRP corrected again.
If Ripple announces a new product in 2019, this could make the price rise again but of course this can’t be guaranteed.
Growth of xRapid
xRapid is a commercial payment platform for financial institutions. With xRapid the XRP token can be used for international payments. XRP makes it easier to convert euros for example into dollars. With the current system, banks need to have bank accounts at multiple other banks, with x-rapid that won’t be necessary any longer.
More and more banks and financial institutions say they are planning to use xRapid. In January 2019, the first bank announced the use of xRapid for international transactions, the Euro Exim Bank. If more financial institutions are going to use xRapid, this could have a positive effect on the XRP price.
More and more collaborations
In terms of collaborations with financial organisations, Ripple is doing well. In 2018, one hundred organizations registered with RippleNet, the Ripple network. According to director Brad Garlinghouse, this number is increasing by two or three companies each week.
The increased number of collaborations is in line with the increase in new applications. Recently, xRapid and SendFriend have been launched and who knows what else 2019 has in store for Ripple.
Will Ripple be able to maintain this upward trend? 2019 could become an interesting year for Ripple and XRP.
Annual Ripple conference Swell
Ripple is also making great progress in Public Relations. The company organizes an annual large-scale event called Swell where prominent guests are invited.
The hype that Ripple creates around Swell is amazing. Last year, Ripple invited former president Bill Clinton to speak at the event. This caused a lot of media attention worldwide (especially in the crypto world).
Bill Clinton has expressed a very positive opinion: "The blockchain [technology] has enormous potential. Precisely because it crosses national borders and income groups. The possibilities are unbelievably large." Clinton believes that governments must cooperate:" We can ruin it all through negative economic and social policies. "
Increase in market value and popularity
If we look at the total market value, XRP was still behind Bitcoin and Ethereum in both 2017 and 2018. You can calculate the total market value by multiplying the number of coins in circulation by the current price of a cryptocurrency.
But since 2018, XRP has been on the rise. At the end of 2018, XRP took over from Ethereum, putting the cryptocurrency in second place.
Ripple has a lot of loyal fans in their community. Many people wrote about Ripple and XRP on cryptotwitter, and this development could well continue in 2019.
XRP is rising in popularity, and that trend could continue to rise in 2019. But will XRP knock Bitcoin of its throne in terms of market value? That seems a bit far-fetched for now. At the time of writing, bitcoin has a market value that is five times as high as that of XRP. But: nothing is impossible in the world of the cryptocurrency!