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Ripple (XRP)
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Ripple has been around for the best part of a decade now and has established itself as one of the top digital payment systems in the cryptocurrency niche. Described as a gross settlement system, currency exchange and remittance network, Ripple has proven particularly popular with cross-border payments and is based on a distributed open-source protocol.

Interestingly, Ripple is compatible with fiat currencies, as well as for cryptocurrencies and commodities, and its founders, Ripple Labs, assert that the Ripple platform enables users to “secure, instantly and nearly free global financial transactions of any size with no chargebacks.”

Where to Buy Ripple?

Ripple is generally viewed as the third-largest cryptocurrency available, which means that it can be purchased in a wide variety of different outlets. Most users choose to buy their Ripple tokens via brokerages and digital exchanges. While these are multiple in number, it should also be noted that choosing a reputable ripple exchange is particularly important, as safety, security, and high standards of customer service are particularly important in cryptocurrency investment.

A Brief History on the Price of Ripple

The unique qualities of Ripple have proved popular with investors, which means that the price and investment history of the cryptocurrency has been interesting and rich.

Key News for Ripple

As is the case for virtually every investment mechanism on the planet, the recent history of Ripple has been dominated by the coronavirus crisis. This viral pandemic, and the lockdown that has accompanied it, have had a profound impact on trading conditions, and this has moved the needle for investments across all asset categories far more than any other issue.

While the conditions created by the coronavirus have been negative for the majority of businesses and investments, this hasn't applied to cryptocurrency. Investors have actively sought out alternative locations for their money during the Covid-19 scenario, and this has seen many cryptocurrencies become beneficiaries of what has been a short-term bull market.

Ripple has been no exception to this rule but has actually increased in value significantly less than many other cryptos. Whereas the likes of Bitcoin and Ethereum have rapidly escalated in value during the pandemic lockdown, Ripple has only increased by approximately 25%. This is still an extremely favourable performance compared to many other investments, but it does represent paltry progress compared to many other altcoins.

Nonetheless, the founders of Ripple have still been busy in 2020, registering several new partnerships. While the volume of XRP transactions has increased worldwide during the calendar year, Ripple Labs have also announced over 300 cooperation partners, particularly concentrating on expanding the presence of Ripple in Asia.

This is important at a time when the global race for market leadership in the cryptocurrency and fintech fields is evolving. Ripple Labs has shown its willingness to cooperate with regulators at this time, and that will certainly be a notch in the belt of the company going forward.

Many other factors will also impact on the performance of Ripple. The number of coins in circulation, governance issues, and public perception can all be considered critical going forward. But the Covid-19 climate, and its impact on economic trading, will continue to loom large, and be a more significant factor in the price discovery of cryptocurrency than any other issue.

Ripple Timeline

  • January 2012  Ripple was conceived for the first time. Its founders were Chris Larsen, Jed McCaleb and Arthur Britto.

  • January 2013Ripple came into existence with a 100 billion initial token supply. 20 billion XRP were retained by the creators, and the remaining 80% were gifted to OpenCoin, Inc.

  • August 2013The Ripple community was growing and developing, with the XRPTalk forum being established. Ripple price: $0.005

  • September 2013OpenCoin rebranded to Ripple Labs. Ripple price - $0.005

  • May 2014A post on the xrptalk.org forum by Jed McCaleb indicated that his personal share of Ripple was equal to 9 billion tokens. Ripple price: $0.005

  • September 2017R3 sued Ripple in relation to an option agreement, as part of which Ripple agreed to sell up to 5 billion XRP for a certain price. This was eventually settled without court action being taken. Ripple price: $0.25

  • December 29th, 2017Ripple briefly became the second-largest cryptocurrency, with a market capitalization of US$73 billion. Ripple price: $2.21

  • January 2018Over 100 banks had signed up for Ripple. Ripple price: $2.39

  • January 7th, 2018Ripple reached what remains its peak price. Ripple price: $3.38

  • September 2018Ripple continued to see the market share of the total crypto sphere increase, reaching around 7.33% at this time. Ripple price: $0.34

  • May 2nd, 2020Ripple recovered in price during the Covid-19 pandemic. Ripple price: $0.22

Compare Ripple With Fiat Currencies, Commodities and Crypto

Ripple is a digital payment system and has proved particularly popular with facilitating cross-border payments, but it also has huge investment potential. The increase in the value of Ripple during the 2017-18 bull market made headlines all over the world, and many people believe that this jump in value was only the beginning of Ripple's potential.

With this in mind, the cryptocurrency is often compared to other investment vehicles such as fiat currencies, commodities, and indeed other cryptocurrencies. So in this section, we will assess how Ripple has developed recently in comparison to some other assets.

Compare Ripple With the US Dollar

The United States dollar is known as being a traditional store of value, thanks largely to its world reserve currency status. The dollar has therefore performed better during the coronavirus crisis than many other fiat currencies, largely retaining its value, and increasing in comparison to other currencies. 

Ripple has undoubtedly outperformed the US dollar, by increasing in value by approximately 25% during the coronavirus pandemic. This means that the purchasing power of Ripple has increased more appreciably than the dollar in recent times.

Compare Ripple With Gold

Gold is another asset typically viewed as a safe-haven, with many gold bugs choosing to invest in the precious yellow metal during times of economic crisis. Gold can, therefore, be expected to rally, particularly when equities, bonds, and investments, in general, are in decline and that has certainly been the case during the coronavirus pandemic.

In fact, Ripple and gold have performed rather similarly during this period, with both investments attracting capital and increasing in value. The increase in value has been quite similar, although Ripple has elevated in value at slightly more than gold - by 25% as opposed to around 20%.

Nonetheless, there hasn't been a huge difference between these two in recent months.

Compare Ripple With Crude Oil

In the entire trading history of crude oil, there can have been no more a dramatic year than 2020. With the prolific oil-producing countries of Russia and Saudi Arabia having a major disagreement, the price of oil tumbled over production concerns. At one time, a barrel of crude oil was priced at the absurd level of -$40 - a scenario that would have been scarcely believable just a few years ago.

With the International Energy Agency expecting demand for oil to fall further during the calendar year, and the coronavirus pandemic having a huge impact on everyday behaviour worldwide, particularly with limited travel, the immediate outlook for the oil market is grim. By contrast, Ripple has increased in value appreciably during the Covid-19 lockdown, and the two investments have taken completely diverging path during this crisis.

Compare Ripple With Bitcoin

Bitcoin remains the dominant cryptocurrency in the market, and it perhaps shouldn't be hugely surprising that it outperformed Ripple during the coronavirus crisis, and 2020 as a whole. While Ripple has enjoyed a favourable response to the pandemic, Bitcoin virtually doubled in value, nearly breaking through the $10,000 barrier once more.

Certainly, Ripple has proven to be a good investment during the lockdown, but it has by no means been the equal of the market leader.

Ripple Future Price Predictions

As Ripple has established itself as part of the top trifecta of cryptocurrencies, it has inevitably garnered a significant amount of media attention. Indeed, many investors believe that the specific qualities of Ripple mean that it is the most viable cryptocurrency in the long-term, and expect its escalation in price to reflect this.

This has led to a huge amount of speculation regarding the token, and thus it is interesting to assess where we can expect Ripple to climb or descend in the years to come.

Ripple Price Predictions for 2020

As 2020 unfolds, Ripple will undoubtedly continue to be impacted by the coronavirus crisis. This pandemic will be the defining issue for the world's financial institutions, systems and markets, and is likely to continue to have a favourable impact on cryptocurrency. This means that Ripple should be bullish for the remainder of 2020.

With Bitcoin continuing to be the leading token in the cryptocurrency space, it will also be interesting to see whether Ripple begins to move towards the recent price increases of Bitcoin. Ripple has life lagged behind Bitcoin somewhat in terms of appreciation in 2020, but this may begin to change as the year unfolds.

Generally speaking, the trend for the remainder of the year should be bullish, at least in the cryptocurrency sphere. This should obviously be excellent news for Ripple. However, it should be stated that the market conditions will be uncertain due to the unprecedented Covid-19 scenario.

Ripple Price Predictions for 2021 

In 2021, the coronavirus crisis will remain the defining characteristic of the market. While its impact may have receded slightly, the pandemic and associated lockdown will continue to have a massive influence over trading conditions, and the general economic climate. Thus, we can expect Ripple to remain bullish and escalate in value during the 2021 calendar year.

Beyond 2021 for Ripple

In the longer term, Ripple is generally regarded to have massive potential. The founders of the company believe that its cooperation with governments and banks will be extremely valuable over the next few years. In this sense, Ripple has already established a unique selling proposition and must focus on providing further value to customers and markets in the years to come.

Another major advantage of Ripple which is promising for the token beyond 2021 is that its blockchain can be considered superior to other cryptocurrencies. This has assisted the Ripple project in its utilisation of cross-border payments, and the token is already in pole position to become the top cryptocurrency in this area. This obviously reflects favourably on his future potential.

As technology-driven markets become more prominent, it seems that Ripple is set to become one of the major beneficiaries. As more people in the developing world gain access to Ripple and other cryptocurrencies, the escalation in this market could be considerable. Ripple has positioned itself astutely to benefit from many of these unbanked individuals.

Ripple Price Conclusion

In conclusion, Ripple is definitely one of the most viable investment mediums within the cryptocurrency niche. Market conditions have been favourable for Ripple during 2020, but it is the particular qualities of this cryptocurrency which mean that it has such excellent long-term potential. Of all cryptocurrencies, Ripple is probably the most accepted by the existing financial architecture, and this would seem to be an excellent indicator for the cryptocurrency going forward.

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Frequently Asked Questions

  1. The blockchain is an important aspect of Ripple, and indeed virtually all cryptocurrencies. The blockchain is a public lecture which keeps an account of all transactions associated with a particular cryptocurrency. This helps to ensure that Ripple, and other similar platforms, operate in a fair, efficient, and transparent fashion. It also means that people involved with the Ripple community can view all public keys at all times.

  2. Ripple was developed as a payment system, and indeed is largely regarded to be a valuable cross-border option for international payments. It would, therefore, fit most definitions of money, and is indeed intended to be a currency system.

  3. There are many reasons to hold and use Ripple, even if you are already in possession of fiat currency. Whichever one of these applies would depend on personal circumstances. Firstly, Ripple is considered an excellent system for international payments, and is already being accepted as part of the mainstream financial architecture in this area. Secondly, Ripple is considered a valuable investment tool, with many people holding the token in the manner of equities and other investments. Ripple is also often available to people who cannot easily gain access to the conventional banking system. So there are several ways in which Ripple offers a viable alternative to fiat currencies.

  4. RippleNet is the global payment system associated with Ripple. This system enables financial institutions to send money globally, and for an extremely low rate.

  5. The opinions of individual investors can vary, but there are several reasons that Ripple t is considered to be a particularly legitimate cryptocurrency. Ripple has sought the acquiescence of the mainstream banking system and regulators, and this has resulted in being viewed as particularly credible. The platform has already been introduced into the international banking system to a certain extent, with Ripple already playing a role in cross-border transactions. As this expands, many believe that the crypto coin will have a huge amount of long-term upside, and it also makes Ripple a particularly valid investment.

  6. There are many ways to purchase Ripple, but the most common is via online exchanges and brokerages. Ripple is available on over 60 digital asset exchanges worldwide. Private transactions are also available.

  7. Eight major payment providers have publicly announced their pilot use of Ripple in payment flows - MoneyGram, MercuryFX, IDT, Cuallix, Western Union, Cambridge Global Payments, Currencies Direct and Viamericas. Ripple also has several financial institutions that have expressed an interest in partnering with the platform.

  8. No, the 100 billion XRP in circulation was created before Ripple Labs was formed. There are no plans currently to create further tokens.

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