0
📈 Price Predictions
5846 views

2019 Ripple (XRP) Price Analysis and Forecast for 2020 [Key Levels & Trends]


2019 Ripple (XRP) Price Analysis and Forecast for 2020 [Key Levels & Trends]

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

The probability that you’re interested in crypto and don’t know about Ripple is extremely small. But newcomers should know what XRP is in more detail, including its history, and after that go on to forecasts for 2019. Looking ahead, it seems to us that the prospects of Ripple, up to 2020, are very good.

Ripple is one of the largest cryptocurrencies. Today it is in third place among all cryptocurrencies. Its capitalization exceeds $18.5 billion. The main task is to make instant money transfers, regardless of currency, amount and geolocation. That is, Ripple offers a simpler and more affordable way to exchange currencies, trying to replace existing methods.

The main Ripple coin is XRP, which helps to carry out transfers within the system, serving as an intermediary. Unlike many cryptos, Ripple doesn’t use blockchains for conducting transactions. What is also interesting — there is no possibility to mine XRP tokens, and their limit number is 100 billion. Today, only 42 billion tokens are available, the rest is controlled by Ripple.

👉MUST READ

Ripple’s Technology Helps Remittance Company Get 800% Rise in Clients Overnight: Brad Garlinghouse

Ripple’s Technology Helps Remittance Company Get 800% Rise in Clients Overnight: Brad Garlinghouse

History of Ripple

We will not describe the entire history of Ripple’s creation and development, as one of the key cryptos. Instead, we will consider XRP as an investing crypto asset, which means we will focus on historical highs and lows of price:

  1. From its inception in 2013 and up to the beginning of 2017, the price of XRP didn’t exceed $0.02.

  2. Against the background of the crypto market overall growth due to investing in Bitcoin in 2017, the price of Ripple rose to $0.2, and by the end of the year reached $3.3.

  3. Like all cryptos, 2018 was marked by a protracted fall, the price of the XRP dropped over the year to a level of $0.27-0.30.

  4. Despite the end of the winter crypto, Ripple showed no explosive growth after the spring events, at the moment the price of the XRP exceeds $0.4.

Let's talk about the latest events around XRP in more detail.

👉MUST READ

Ripple Sets Up Branch in Brazil, Plans to Continue with Its Latin America Rollout

Ripple Sets Up Branch in Brazil, Plans to Continue with Its Latin America Rollout

Analysis of Ripple price for the previous period of 2019

Experts agree that the crypto winter is coming to an end. This means that the period of market decline is over and in the near future, we will expect growth and a favourable mood to enter the market. However, things are not so simple with Ripple. Looking at the three-time growth of Bitcoin over the past 5 months, one would expect a similar result from XRP.

It is no secret that Bitcoin sets the general mood of the market. In this case, the logical growth would have looked at least beyond the level of $0.6, or even $0.9, but it didn’t follow. To call Ripple developers actions wrong is impossible. The company is actively developing, expanding the sphere of influence, enlisting the support of large financial institutions and constantly improving the technology of transfers. In addition, Ripple is owned by SBI, a large corporation with companies such as R3. Everything indicates that the current situation, only the calm before the storm, in our case, before the explosive growth.

Analysis and forecast of XRP price from the experts

First of all, it’s worth assessing forecasts and analyses of Ripple price for 2019 from recognized experts of the TradingView site. It’s very useful to compare different opinions of experienced people in search of the truth.

Analysis of Ripple’s price by ThinkingAntsOk
Image by TradingView

In support of the idea concerning a rapid rise in Ripple’s price, we paid attention to the analysis and forecast from the user ThinkingAntsOk, located on the platform on June 17. According to him, from mid-April, Ripple is inside the descending channel and now it can pierce it. The price of XRP has for a long time been repelled from the support zone, and in the case of overcoming the channel’s upper boundary in the area of ​​$0.48, it may rush to a new support zone. The forecast for the positive development of events is $0.75 for 1 XRP.

Ripple price prediction by YinYangCrypto
Image by TradingView

Another user supporting Ripple's growth theory is YinYangCrypto. His analysis shows that the XRP/USD pair has practically formed a bullish triangle, after the completion of which a phase of explosive growth will begin. It will also be wavy. According to user forecast, the price may well increase by 2 times, breaking the mark of $0.8. The change of movement will take several months.

XRP price forecast by amfeix
Image by TradingView

The last interesting analysis was made by user amfeix. We also largely agree with him. His forecast predicts active growth in the near future. A few days ago Ripple agreed to invest $50 million in MoneyGram, so they became partners. These events have already caused growth to the level of $0.43. If the price of Ripple consolidates in this zone, the next step will be $0.47 — a very important value that it hasn’t been able to break through since mid-May. If this mark is succeeded to overcome, the user predicts explosive growth for XRP.

Ripple price forecast for 2020

We also have our own thoughts and forecast for Ripple’s price. We should immediately say that the investing potential of crypto looks promising, it really has useful features designed to simplify life. In our opinion, several factors affect Ripple’s current and future price:

  1. The mood of the market that Bitcoin sets.

  2. The correct steps of Ripple’s owners.

  3. A crypto interest of community fueled by the news.

Despite the fact that Ripple didn’t show growth after the Bitcoin pump, it’s impossible to deny the influence of the first cryptocurrency on XRP. A Ripple price analysis and forecast is impossible without taking into account the movement of the BTC; the events of May 15 were a clear confirmation of this. Since then the price of XRP has soared by 50%, from 30 cents to 45. Approximately in the area of ​​this mark, the coin is being traded now.

An important event capable of pushing the price even higher is the partnership with MoneyGram. Against the background of this news, Ripple added a few cents in price, the daily trading of the coin also increased.

Conducting technical analysis of Ripple, you need to look at the indicators. Most moving averages indicate that now is the time to buy XRP. While oscillators show neutral values, and sometimes even signal in favour of selling.

Ripple price forecast for 2019
Image by TradingView

On the monthly time period, it can be seen that the key support zone is the corridor of $0.38-0.40. Another important area in which Ripple’s price is now is $0.42-0.44. If XRP doesn’t stay at this level, it will be important not to fall below the first support zone. In the case of its penetration, Ripple may fall below $0.36. This development is unlikely, but anything is possible on the crypto market. Keep it in mind.

The positive part of the analysis is that the existing trend line is ascending. The key level is the mark of $0.47-0.48. If we succeed in gaining a foothold in this value region, explosive growth will follow. The Ripple scenario is more likely about growth than the fall.

👉MUST READ

How Does Cloud Mining Work?

How Does Cloud Mining Work?

If the market remains bullish, the price of XRP will rise anyway, the only question is how much. The analysis shows the following perspectives:

  1. Minimally, we predict that Ripple will add 50% in price until the end of 2019, which is $0.6-0.65.

  2. With the optimal situation, the price can overcome $1.

  3. If the actions of the company's management will bring positive results, we can forecast x3-4 in prices until the end of the year.

In any case, to enter the market on highs is wrong. We advise you to begin investing in Ripple and other cryptos, if not during the fall, then during the correction period. That way it is less likely to miss profits. Follow our forecasts and choose crypto assets wisely!

Cover image via 123rf.com
Subscribe to U.Today on Twitter,and get involved in all top daily crypto news, stories and price predictions!

About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

👓 Recommended articles


This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings