XRP is a token that the regulators have notably held down legal tussles. The US Securities and Exchange Commission sued its developers, Ripple Labs, in 2020 and two of its top executives for raising more than $1.3 billion in an unregistered digital asset securities offering.
Despite the hurdles, a section of investors has been bullish on the cryptocurrency, anticipating that they will turn profits once the case is settled in favor of Ripple Labs. XRP has posted a double-digit price increase in the past three months.
What is Ripple?
It is a technology company that offers a digital payment platform for international transaction settlements. The platform enables financial institutions to exchange value between various fiat currencies across the globe. Ripple developed the XRP Ledger in 2012 as an open-source cryptographic interface supported by peer-to-peer nodes. The company created the XRP token in 2013 to power the consensus ledger. The team then embarked on enrolling institutional clients to use the remittance services.
Ripple was founded by Chris Larsen and Jed McCaleb in 2012. XRP is secured by a more centralized consensus, the XRP Ledger Consensus protocol. The protocol comprises independent validator nodes that compare transactions to determine their validity.
McCaleb later exited the company to create Stellar blockchain, a protocol offering similar services. Regulatory challenges met Ripple’s pursuit of a strategic partnership with banks. The company was sued in 2015 for breaching the Bank Secrecy Act when it sold XRP tokens illegally. Ripple paid $700,000 in Penalty and Remedial actions.
If you are looking for XRP price prediction for 2022-2025, look no further. We will look at the current pricing to see what to expect from future changes.
XRP: should you invest in XRP today?
The daily chart outlook shows XRP found support at $0.7 and managed to hold but did not surpass the $0.87 resistance level. Although the asset is trading above 100 MA, we could see some consolidation at the 200 MA, offering resistance above the current price. XRP is also facing a reduction in the trading volumes with a dip of more than 20% in the past 24 hours, further showing low momentum, despite the RSI being 61.8, outside the overbought zone.
Will XRP reach 1USD in 2022?
Despite the regulatory challenges holding back Ripple, there is a bullish view on XRP supported by the intense use case in blockchain-supported remittances and a positive technical outlook. Although a perfect prediction may not be possible, our thorough analysis reveals a bullish momentum on XRP in the long term.
- According to our technical analysis from the past price data of XRP, we project that the token will rise to as high as $1.03 in 2022 at a minimum price and $0.17 at a maximum. On average, the token is expected to trade at around $0.9.
- In 2023, XRP will surge to a maximum price of $1.05, equivalent to a 22% increase from the current price. The token could still rise as high as $1.09 in the period, with the average trading price projected to be around $1.03.
- XRP is predicted to rise to a maximum price of $2.14 in 2024, with the minimum level that can be reached being $2.1 or 143% of the current price. On average, XRP could trade around $1.98 throughout the period.
- The 2025 price forecast puts XRP at a maximum price of $3.07, equivalent to a 255% increase, at a conservative view, with the possibility of rising as far as $3.67. The token will trade at an average price of $3.16.
XRP past price analysis
CoinMarketCap ranks XRP as the sixth-largest crypto with a market capitalization of $41,716,185,723.46. There are currently 48.12 billion circulating XRP tokens from a total supply of 99,989,656,525 and a hard cap of 100 billion. One hundred billion XRP tokens were pre-mined in January 2013, where the founding team was allocated 20%. Ripple got 77.8%, while 0.2% of the supply was airdropped during the launch.
From the latest price overview, one XRP is exchanging for $0.8634. It has jumped 0.04% in the past 24 hours and up 3.99% in the past week. The monthly price outlook shows that XRP has been on bullish momentum, rising 12.15% from a low of $0.77. Ripple has increased by 5% in the last three months and by 49.12% in the past year. Overall, XRP is trading 74.51% lower from the all-time price of $3.37, recorded in July 2018.
Want to buy XRP?
XRP is listed in major cryptocurrency exchanges, including Binance, KuCoin, Gate.io, Bithumb, Huobi Global, and FTX. You can buy XRP on Binance by following the following steps:
Step 1. Open an account with Binance.
Step 2. Buy BTC or USDT from your crypto wallet.
Step 3. Go to the spot market and select XRP/USDT or XRP/BTC pair.
Step 4. Exchange USDT or BTC for XRP tokens. XRP can also be purchased using credit and debit cards.