by Rushali 
The world of cryptocurrency has seen a huge transformation in past few years. Some years back everybody would consider this financial world as it is a scam or something. But today many new generation companies are investing in it. Not only that many experts believe that Cryptocurrencies are the future of the world.
Cryptocurrencies were developing earlier as well but this pandemic has made it grow faster than ever. Because due to growing inflation the value of fiat currency is degrading so people are turning towards other sources of storing their money. A for that what’s better than cryptocurrencies. Tesla and SpaceX CEO Elon Musk has said that bitcoin has better storage value than gold. So, investing in cryptocurrency is the best thing to do today with your money.
Now for investing in cryptocurrencies, first you have to select a cryptocurrency in which you want to invest. There is four leading cryptocurrency at this point in time and they are bitcoin, ethereum, tether, and ripple XRP.
We will help you today to know more about one of these cryptocurrencies Ripple XRP through this article.
Ripple XRP- Introduction
In the year 2004, Ryan Fugger has initiated the Ripple Payment Network. Then Jed McCaleb and Chris Larson have taken charge of the project in the year 2012. Jed McCaleb has served as CTO in the project until 2013. The company was registered as “Ripple Labs” but in 2018 to avoid the confusion for similar names they have selected “XRP” for the digital coin and Ripple Labs for the company.
Ripple XRP is the cryptocurrency that works on Ripple which is a payment network. The XRP is based on distributed ledger database and not on blockchain technology. All the merits of this cryptocurrency are due to this ledger and consensus process. XRP is faster and efficient than other cryptocurrencies as it does not require mining and its process does not need multiple confirmations for immutability.
This ledger system of Ripple has helped it grow drastically as compared to bitcoin and ethereum.
Also Read : Chainlink price prediction
Ripple XRP- Mission
This cryptocurrency is made with the hard work of a whole team of management and technology experts. The team is lead by Brad Garlinghouse as CEO, David Schwartz as CTO, Eric van Miltenburg as CBO, and others like Asheesh Birla, Monica Long, Kiersten Hollars, and Stuart Alderoty.
Apart from being a global payment network, they also have Xpring which brings collaboration and investment for innovating blockchain projects. Xpring offers lots of tools and services in the payment gateways helping the customers to do transactions across any kind of network using XRP ledger and Interledger Protocol.
Ripple XRP- Merits
Ripple XRP has provided many benefits to the whole world. I will list all the possible advantages of Ripple XRP here.
* Boosted the media and gaming industry
* It is a rapid and secure way of payment
* There is no middleman involved in the process and it is customer-oriented completely.
* It has IOV technology benefit and making a way for innovation.
* With ILP experience it has infinite scalability.
* It has finished the role of intermediaries by bringing all financial solutions into a single blockchain platform.
There are many other merits of Ripple XRP, these were the main.
Also Read : Polkadot price prediction
Ripple XRP- Future prediction
When XRP has entered the market its price was just $0.0058 and remained around that for few months. Then it started gaining momentum and today it is trading at $0.467 that is 0.7% down. In the year 2020, XRP has seen a huge price transformation from the start to the end of the year.
Let’s what will happen in the coming years.
- Price prediction for the year 2021
Ripple is a better investment option as compared to bitcoin and ethereum because they already have reached their new all-time highs and it is not advisable to invest at a high level. And it is also very cheap from bitcoin and ethereum. The price of XRP could reach $50 by the end of the year.
- Price prediction for the year 2022
This cryptocurrency has gained an upward movement from several big investments and partnerships, so the sentiment is pessimistic. And the price could break its previous all-time high of $3.84.
- Price prediction for the year 2023
With all the new developments we can expect that its price movement will be upwards in this year as well. And will trade around $4.
- Price prediction for the year 2024
If we go by the charts then we can say that the price of XRP could reach $5 by the end of 2024 and we can see many developments as well.
- Price prediction for the year 2025
5 years is a long time so we cannot predict something exactly, but by looking at all the things and market the mood will be optimistic we can say. And can trade between $4-$8.
For Ripple XRP, we can conclude that this is the right time to invest in it and it will definitely give you a return in the future.
Note – All these predictions are from a personal point of view. A difference of opinion is bound to happen. This article doesn’t guarantee any price movement. We don’t take any responsibility for any kind of profit or loss and don’t give any kind of investment tips. Invest at your own risk.
1 Comment