While Bitcoin is leading the cryptocurrency rally, we look into another promising altcoin - Ripple. Today, we discuss the 2018 Ripple Price Prediction.
12 December, AtoZForex – We will remember 2017 as a crazy cryptocurrency rally year, with Bitcoin and Ethereum leading the pack. However, other digital currencies have also been performing well- Ripple and Litecoin have gained quite popularity over the past months.
Cryptocurrencies are a new safe haven
While the market is oversaturated with the Bitcoin and Ethereum price analyses, we decided not to ignore the altcoins that are also booming. As a part of this Ripple analysis, we will be talking about 2018 Ripple Price Prediction.
The top 10 cryptocurrencies for the next year are going to be the ones that have already performed well during 2017. Bitcoin, the first ever cryptocurrency, has its price surging up in a rapid way. Talking about Ripple, the enterprise on the game, it is necessary to note that its market development cannot be copied by other altcoins. Thus, there is a big chance that Ripple could be doing much better during the upcoming years.
The cryptomania has reached impressive highs thanks to the safe haven demand - now investors turn to the digital currencies in times of uncertainty.
Now, the market cap of Ripple (XRP) stands at around $10.3bln. That is over 4,000% price rise in a year.
As you might already know, Ripple is a unique cryptocurrency. For example, say if you have sent money abroad, you have used a SWIFT service. SWIFT is an entity with a monopoly on border transfers. However, Ripple has the potential to eliminate such system. Thus, you can say that Ripple is Swift competitor.
According to the Ripple CTO, Stefan Thomas:
“Ripple provides one frictionless experience to send money globally using the power of blockchain. With RippleNet, financial institutions can process their customers’ payments anywhere in the world, instantly, reliably and cost effectively using just one API.
Ripple is the only blockchain network with real customer. We’ve signed deals with over 90 customers globally and over 75 customers are in various stages of deploying Ripple for commercial use”.
2018 Ripple Price Prediction
According to Mr. Tomas, money should be fast processed and transacted as fast as data is going around the world. This is exactly what is Ripple capable of. Mr. Thomas further adds:
“Because XRP has a clear use case. It is one of the largest digital assets by market capitalization. It is designed for use by financial institutions as an on-demand liquidity solution for cross-border payments.
For example, payments into emerging markets can require multiple currency traders — added costs — or pre-funded local currency accounts — which often results in the trapped capital. Instead, payment providers and banks can use XRP to fund these payments on demand, without intermediaries, at up to 60% less cost to settle.”
In case everything works out good for Ripple and the global institutions will accept Ripple widely, we could see XRP price rise towards $2.00 level by the end of 2018. The only issue we see though, the company is controlling the XRP supply.
Meanwhile, don't forget to see our "11 Promising Coins to Invest in December 2017" article.
Think we missed something? Let us know in the comments section below.