2022 is expected to be a good year for cryptocurrencies, including XRP. In this XRP price prediction guide, we want to share with you all the details about what we expect for Ripple (XRP) and the cryptocurrency market.
After having a very difficult beginning of the year in 2021 with legal problems with the U.S. Securities and Exchange Commission (SEC), XRP was able to recover its position among the largest virtual currencies in the market.
With 2022 right here, investors are wondering about XRP price prediction for this year. With a starting point of $1 per XRP, we will analyse how the digital currency is behaving and why this could be one of the best performing cryptos in the coming years.
Disclaimer: the information shared by AltSignals and its writers should not be considered financial advice. This is for educational purposes only. We are not responsible for any investment decision you make after reading this post. Never invest more than what you are able to lose. Always contact your professional financial advisor.
What is Ripple (XRP)?
XRP is the cryptocurrency of the Ripple network. The goal behind this virtual currency is to let financial institutions and network parties send and receive cross-border transactions in seconds.
Ripple wants to offer solutions to a very large challenge that the financial industry was facing. We are talking about slow international cash settlements among banks. Moreover, they also want to address liquidity issues between fiat pairs in the market such as MXN/PHP.
Thanks to RippleNet, banks are able to have a fast and modern communication system that lets them share valuable information to make international transfers faster. This represents an improvement over the Swift legacy system.
Additionally, those banks and institutions that want to process instant cross-border cash transfers should rely on the XRP virtual currency. That being said, we will now make an XRP price prediction analysis based on different factors such as fundamental and technical aspects.
XRP Fundamental Analysis
In order to make a clear XRP price prediction, we should also make a clear XRP fundamental analysis. As mentioned before, this virtual currency was created in order to make international transfers faster and to reduce settlement times between different currencies.
We have seen that RippleNet has already surpassed more than 200 customers and it continues to grow on a daily basis. The larger the network of financial institutions using RippleNet, the larger the chances are that they would try adding XRP to their financial solutions.
Although clients and end-users should not necessarily know that the financial institution they rely on is using XRP, they would definitely notice it on the services they use. For example, a cross-border transaction that before required three days to be processed can now be handled in just a few minutes and for a fraction of the fees.
Furthermore, the larger the RippleNet network, the larger the possibilities would be for bank clients around the world to send and receive cross border transfers in seconds and for almost no fees. This is possible thanks to XRP, a virtual currency that is fast and cheap to use. If you consider that the network would continue growing in the future, then this would be a very bullish thing for XRP.
XRP Price Prediction Analysis
The current XRP analysis shows that it is in a massive ABC bull flag. XRP has recently left an impulse wave and it is now creating a large and big correction that is getting closer to two areas of significant interest for the virtual currency.
As you can see in the image above, these two areas of significant interest include the following:
- First Area
- Double bottom (Structure)
- 61.8 Fibonacci
- Second Area
- Parallel channel support
It is worth taking into consideration that AltSignals considers that both of these areas are key areas to look for a reversal pattern and bounce off. What should we look for in the coming months for this XRP price prediction?
Investors should watch for the price to come down to one of these two areas that we described before. Moreover, there should be a bounce off. Investors should carefully analyse the situation and decide whether to enter or not. It is always necessary to use a stop loss below the rejected price.
Finally, the first target would be the parallel channel resistance. The second target would be the most recent high registered by XRP in recent months. Furthermore, – 0.27 is the third target. If you are a long-term XRP believer and holder, you should wait and analyse what could happen in 2022.
XRP Price Prediction
Let’s now focus on XRP price prediction for the next years. Starting from a $1 price, we move on to the next few years as follows.
XRP Price Prediction 2022
The first XRP price prediction is for the year 2022. As you could see in the chart above, XRP could be in a bull flag and a continuation of the trend could continue throughout the next few months.
It is always very important to take into consideration the general market. Indeed, it would be definitely important to understand how the market behaves as a whole. A bullish cryptocurrency trend would let XRP break through the current consolidation structure and start trending higher.
Instead, if the current correction in the market continues, it could be a negative thing for digital assets, including XRP. The main thing that we should look at now is the general trend of cryptocurrencies and search for new and possible trends that could expand in the coming weeks or months.
XRP Price Prediction 2023
The coming years are expected to be turbulent, not only for XRP but also for other cryptocurrencies. There are two main things that we should focus on: regulations and macro trends of cryptocurrencies.
If regulations continue to have an impact on the market, XRP could definitely be affected. We should take into consideration that legacy systems have a large lobby power that could affect the way in which digital assets are regulated.
When it comes to price, it is very difficult to share a clear XRP price prediction for the next few years. Let’s not forget that the U.S. Securities and Exchange Commission (SEC) charged Ripple with unregistered securities offering.
If we see a local top in 2022, 2023 could then become a year for stabilization of the cryptocurrency market. This is similar to what happened in 2019. XRP could move from over $1 to $0.25 if a bear market starts once again.
XRP Price Prediction 2024
Following XRP price prediction for 2024, a new bull market could be starting for cryptocurrencies. Although previous price action does not tell anything about future prices, it is possible to understand certain patterns that repeat themselves throughout the cryptocurrency industry.
We are talking about a new bull market after a bear trend in mid-2022 and 2023. XRP should continue to work with the SEC in order to have a positive 2024. Indeed, its legal issues could affect the way in which this virtual currency works.
If Ripple is able to deal with its current legal issues and it is able to bring new partners to the RippleNet, then there is also a larger possibility to see new projects adopting XRP as a virtual currency. This could happen in many different ways and push the price of XRP higher.
XRP’s goal is to surpass its all-time high of over $3.4 registered in 2018. But this could eventually take place in 2025.
XRP Price Prediction 2025
If the bull market starts in 2024, then 2025 could be the moment in which XRP would be able to surpass its all-time high. 4 years is usually considered to be a very good risk-reward investment horizon for those users that are searching for long-term investments in the cryptocurrency market.
XRP could continue to grow throughout 2025 and surpass its previous all-time high. This would only happen if Ripple is able to deal with its legal issues with the U.S. SEC. Moreover, non-speculative demand for XRP would also come from new partners on the RippleNet. Is Ripple doing and expanding its solutions to new banks and institutions as it was doing in the past?
Has this been affected by the legal issues that Ripple is currently facing? In the next few years would be very important to understand how XRP continues to perform in the market.
How to Buy Ripple (XRP)?
Buying Ripple would be definitely easy. You would have to search for a cryptocurrency account, open an account, deposit funds and buy XRP. That’s how easy it is.
Step 1: Search for a Cryptocurrency Exchange and Open an Account
The first thing you should do is search for a cryptocurrency exchange. At the moment, there are dozens of platforms around the world that would let you buy and sell XRP. It is up to you to decide which one offers you the best solutions right now.
Once you have selected the cryptocurrency exchange to trade XRP, then you should open an account. This would take just a few minutes and it would make it possible for you to engage in many different activities currently offered by the cryptocurrency exchange.
Step 2: Deposit Funds
Now that you have selected a crypto exchange and you have opened a cryptocurrency account, you have to deposit funds. These funds would let you get access to XRP coins through the trading services offered by the exchange.
The best thing to do is to search for a cryptocurrency platform with several payment options. This would let you pay with debit cards, credit cards or even a bank transfer, among other things. Some exchanges also have fiat pairs against XRP, you should also check this information before opening an account at a crypto exchange.
Step 3: Buy XRP
Finally, you should be able to buy XRP. This would require you to exchange the funds that you deposited for another cryptocurrency (in this case, XRP). If you deposited USD, you should search for an XRP/USD trading pair.
If the exchange does not let you use fiat currencies, then you should directly buy BTC and exchange it for XRP in the market. When you buy XRP you can select a market order or a limit order. A market order would execute your purchase immediately at the best available price. Instead, a limit order would require you to select a price and wait for the market to reach this price level.
Frequently Asked Questions (FAQ)
There are also some questions that are worth answering for those users that do not know much about Ripple and the XRP virtual currency.
What is Ripple?
Ripple is a cryptocurrency and blockchain financial company that aims at making cross-border transactions faster and easier for network participants. In order to do so, Ripple has developed the so-called RippleNet and the XRP digital asset.
Nowadays, there are over 300 financial companies working with Ripple and that could eventually adopt the XRP digital asset to process cross-border payments.
Difference Between Ripple and XRP
There are some key differences between Ripple and XRP that we should take into consideration. XRP is a virtual currency, like Bitcoin (BTC) or Ethereum (ETH). Users can buy and sell XRP in the market and use it to speculate with its price or simply to process cross-border transactions.
Instead, Ripple is a company that works on the RippleNet network and that aims at creating an alternative ecosystem for companies to send and receive money across borders. Moreover, Ripple is working on a liquidity system that requires the use of the XRP virtual currency. Take into consideration that Ripple is a company and XRP is a virtual currency.
Where Can I Buy XRP?
There are many platforms where you can easily buy XRP. Binance, KuCoin and Coinex are some of the cryptocurrency exchanges that let users buy XRP. However, there are many other platforms around the world that would allow you to buy XRP in seconds and use different payment methods.