Ripple is a new cryptocurrency whose price is always speculated by the crypto community. We’ll try to answer the question about the Ripple price prediction.
What is Ripple?
Ripple plays the role of a utility crypto token and a transaction network (XRP). It was created in 2012.
However, Ripple’s foundations are older than Bitcoin. Ripple was developed in 2004 by its creator Ryan Fugger.
Ripple has been mainly used cryptocurrency for global money transfers and banks. And, it’s known as the most scalable and fastest digital asset for making real-time parents in any location in the world.
Ripple believes that their success comes from its low transaction fees, liquidity, and its speed. The average Bitcoin transaction takes about an hour; Ripple’s transactions take 3 seconds making more useful for a larger market.
- Coding System Used: 3++
- Transaction Speed: 3 seconds per transaction
- Circulating Supply: 39,009,215,838 XRP
- Total Supply: 99,992,725,510 XRP
- Max Token Supply:100,000,000,000 XRP
[Figure 1 – Ripple’s Price on Coin Market Cap]
On Coin Market Cap, Ripple is priced at around .082 USD per token. And it’s ranked #3 in the top cryptocurrencies in the market. As of now, it has a market capitalization of $32 billion dollars.
This table demonstrates the Ripple price prediction within the next 6 years.
[Figure 2 – Ripple’s 6 Year Price Prediction]
Due to the properties of Moore’s law, we can expect for Ripple’s price to double each year that it remains on cryptomarkets and exchanges. The law states that it will experience a trend of exponential growth, ending at a total of $53.82 in 2024.
At the beginning of 2017, Ripple had started showing signs of growth when it was at .$0.006 per token. As we’ve stated in Figure 1, it’s current price at .8 does show that it is a sustainable crypto pair.
Until then, Ripple will continue to flow with the current market. While the market is in a state of volatility, each year the price will increase 2x. Because of this, Ripple is more suited for long-term holding and still has good growth potential.
How Does Ripple Price Prediction Compare to Bitcoin?
[Figure 3 – Ripple vs Bitcoin Comparison]
When it comes to value, Bitcoin is the better choice. Right now, it’s at $8,808 on Coin Market Cap. Since it is the first cryptocurrency, it has a high market cap of $148.34. This means that Bitcoin does have an advantage when it comes to having the most long-term returns than Ripple.
However, Ripple is better for a large network of people. It was designed to scale, meaning that the more users that make transactions on its platform, the transactions are done instantaneously.
Both cryptocurrencies are used for different purposes; Bitcoin is made to buy larger assets, while Ripple is made for small and fast transactions.
Mainly, Ripple shows a lot of promise as a cryptocurrency as it has shown signs of growth. As we’ve stated earlier, only Moore’s Law can apply to the future of it.
Disclaimer: This post was not made for promotional purposes. Research any cryptocurrency that you’re planning on investing in and do so at your own risk.