Ripple price prediction: how high will XRP go in 2020?
The XRP news prediction isn’t necessarily looking as upbeat as other cryptocurrencies as it performed very poorly over the course of 2019
Read our new forecast here Ripple price prediction: is the best yet to come for XRP?
As with all major cryptocurrencies, the latest Ripple price prediction is a mixed bag. Renowned for having a vocal army of supporters, XRP has been finding it difficult to maintain momentum of late. When it comes to the Ripple price forecast, we’re a long way off the heady days of December 2017, when XRP leapfrogged Ether to become the world’s second-largest cryptocurrency in terms of market capitalisation.
The price prediction for Ripple is informed by the buzz it generates online. Although this isn’t a scientific reflection of how popular XRP is, the traction it gets on social media speaks to how much traction it has among crypto enthusiasts and the public at large. For there to be a healthy Ripple price prediction in 2025, we have to see that there’s a strong user base now that’s ripe for mainstream adoption.
Alas, a report released by eToro and The Tie that covered the first quarter of 2020 casts serious doubt on positive Ripple predictions. Assessing the state of the market, it found that the number of Twitter users discussing XRP at all tumbled by 16 per cent in Q1. The “XRP Army” we were talking about has dwindled by 50 per cent over the past 18 months. Worse still, this army is 82 per cent smaller than it was in January 2018, when XRP hit all-time highs of $3.84.
XRP news prediction: Ripple’s involvement
If we were to make an XRP news prediction, it would be that we’ll see Ripple continue to sell significant volumes of the XRP tokens it owns. Although the company says it has absolutely no influence over XRP prices, it owns more than half of the tokens in existence, and regularly sells some of its stash to ensure it stays cashflow positive. Critics argue that this can lower XRP’s price, meaning Ripple predictions often end up being more negative.
One helpful bit of analysis with any XRP price prediction is looking at how far the cryptocurrency has fallen from all-time highs in comparison with 0'>Bitcoin and Ethereum. At the time of writing, BTC is trading 62 per cent below its peak of $20,089, and ETH is down 86 per cent from its high watermark of $1,432. XRP, I hear you ask? Well it’s currently trading at $0.19 – a 95 per cent decline from the record price we were talking about earlier. This helps explain why the Ripple price prediction offered by many analysts isn’t exactly brimming with optimism.
How high can XRP go? Its past performance
How much will Ripple be worth in 2020 is a lively debate. It’s very possible that any appreciation in the cryptocurrency’s price will be linked to strong performances posted by Bitcoin, as this often has the effect of dragging altcoin prices up. (Indeed, Bloomberg’s crypto market outlook for April 2020 noted that “Ripple’s exposure to its own cryptocurrency threatens its enterprise software venture,” while BTC has an opportunity to repeat 2017’s bull run.)
Whenever you’re looking at an XRP news prediction or trying to assess the coin’s movements, always remember that significant developments with XRP are often measured in fractions of a cent – a stark contrast to Bitcoin, where only sudden movements of hundreds of dollars are headline news.
A factor in the Ripple price prediction for 2020 will be how it performed across the whole of 2019, so here are some facts to bear in mind when assessing the latest XRP price prediction from analysts. Despite its impressive market capitalisation, it wasn’t in the top-10 best-performing cryptocurrencies of last year – it wasn’t even in the top 30. XRP’s value actually slid by 45.7 per cent from $0.35 to $0.19 over the course of the year. By contrast, the 30 best-performing coins posted gains of at least 27 per cent to secure their place in the league table.
There is a 0'>Ripple price prediction or two that suggest a price of $0.30 may be possible in the not-too-distant future. However, it’s important to know that this XRP price prediction does come with caveats. Analysts are stressing that XRP would need to break crucial resistance levels to touch $0.20 before this 66 per cent rise can be seriously entertained. Even then, XRP would face an uphill struggle with every cent that it tries to raise.
Ripple price prediction: the short-term outlook
When it comes to a really upbeat Ripple price prediction, one of the most dependable analysts out there is Robert Art. Unmistakably pro-XRP, and exceptionally optimistic about the future, it is worth taking both his short-term and long-term views with a generous pinch of salt. His Twitter bio states that he believes XRP will one day reach $200 – and a pinned tweet from April 2018 states the coin “will go to $10 and beyond”, something that’s yet to happen two years on.
In a recent post, he argued: “XRP will deliver better returns than Bitcoin. Why? Bitcoin has 16 times the capital invested in it. Moving $8 billion to $80 billion is a lot easier than moving $140 billion to $1.4 trillion.”
Whether he’s right or wrong remains to be seen, but it is worth noting that early adopters of cryptocurrency were met with a lot of scepticism back at the start. Those who held their ground would have seen their investments multiply many times over. Although a Ripple price prediction of $10 or even $200 looks exceedingly unlikely based on the raw data, naysayers have been wrong before.
FURTHER READING: What is XRP? Your simple guide to Ripple’s cryptocurrency
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