Speaking of the adoption, only a few days ago, the Official Monetary and Financial Institutions Forum (OMFIF) published a report that sees blockchain technology as a solution for multiple industries. In November, after years of speculation and rumours, Ripple confirmed its cooperation with the Bank of America (BAC) as the US second-largest bank had also become one of RippleNet’s clients. In August 2020, it was revealed that India’s largest bank, HDFC Bank Limited (HDB), had joined RippleNet. Throughout the years, the project has earned the trust of many renowned financial institutions, such as Banco Santander (SAN), JP Morgan (JPM), HSBC Holdings (HSBA), Mizuho Financial Group (8411), Sumitomo Mitsui Financial Group (8316) and the global money transfer giant MoneyGram.
Ripple’s main goal has always been the creation of a payment system that would be used by banks to facilitate the transfer of funds in both domestic and international markets. Try demo XRP forecast 2021: what will drive the coin’s value going forward? Thus, before diving into the XRP price forecast, let’s recap what has been recently going on with the project and what factors will likely set the tone for the coin’s future. It is a known fact that the latest developments in Ripple play a crucial role in determining its native coin’s valuation. However, XRP crypto is still down 85 per cent from its all-time high of $3.84 in January 2018. Moreover, in a tweet posted on November 25, it was revealed that XRP’s daily social volume had soared to outperform ETH.Īt the time of writing, November 26, the coin’s price is $0.54, representing growth of 184 per cent year-to-date. On November 22, Santiment, a crypto analysis service provider, reported that the number of unique addresses transacting in XRP reached 24,408, the highest figure since May. The rally on the latter exchange was then reported to be driven by the platform’s users.Īmong the key factors behind the coin’s hike were the XRP’s $45.6 million buybacks and the rising address shown in on-chain data. The coin’s intraday high was $0.78 on Binance and $0.73 on Bitstamp, while on Coinbase, the currency went all the way up to $0.90, right before plunging 30 per cent. It is worth noting the price divergence on different exchanges. On the first day of the month, XRP was trading at $0.23 but by November 24 its value had surged 220 per cent, reaching highs of $0.76, according to CoinMarketCap. During September and October, the XRP coin price retraced to trade between $0.23-$0.25.Ĭoming as a surprise to many, things took a turn for the better in November. At the end of July, it gained upward momentum, allowing it to surpass the $0.30 mark in August. The digital currency then recovered its losses to trade in the $0.19-$0.20 range throughout the next four months. On March 13, XRP fell as low as $0.11 per coin, losing its status of the third-largest cryptocurrency to Tether (USDT). Cryptocurrencies were not immune to the event, with many shedding in value significantly. However, the unforeseen broader market crash happened in March 2020, driven by the Covid-19 outbreak and rising global economic uncertainty. It then soared up to $0.34 in mid-February, with many of the project’s supporters prophesying a bright XRP outlook for the following months. Ripple’s cryptocurrency started this year hovering around the $0.20 level. XRP performance in 2020: not a laggard any more We also review what the latest XRP price prediction for years ahead looks like now. In this article, we examine the coin’s performance so far in 2020 and check out what factors will influence its value going forward. This has.many investors wondering: what will the XRP future price be? Was this month’s stellar hike just the beginning of a wild bull rally? If so, is now the right time to invest in this digital asset? However, in November, the value of XRP skyrocketed, with the coin reclaiming its previously lost title of the third-largest cryptocurrency. From January 1 to October 31, the coin had risen by 24 per cent while its peers Bitcoin (BTC) and Ether (ETH) had soared by 92 per cent and 195 per cent respectively.
In the first 10 months of this year, the performance of Ripple’s XRP was rather disappointing. Read more: Bitcoin price prediction 2021: unanimously strong, but to what extent?.Ripple price prediction 2021-2025: expect the unexpected.Will the long-awaited IPO finally happen?.XRP forecast 2021: what will drive the coin’s value going forward?.XRP performance in 2020: not a laggard any more.US30 US Wall Street 30 (USA 30, Dow Jones)
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