The cryptocurrency market is growing like no other. No one predicted such a high interest in trading in crypto, an interest that widens to every corner of every continent.
The rise of Bitcoin catalyzed the creation of other virtual coins, such as Ripple’s XRP.
XRP holds a price of $0.51 at the time of writing, but some believe it could reach $1 by the end of 2021.
XRP is a cryptocurrency that works on the Ripple network. The primary reason behind its low price is because the US Security and Exchange Commission (SEC) is suing Ripple for $1.3 billion.
This may last for a short period of time, at least until the end of this year. However, experts predict that the price of Ripple will likely rise again at some point in the future.
Why has Ripple’s Price Dropped so Much?
Ripple went through a major crash at the end of 2020. As mentioned above, this price crash happened due to actions filed against Ripple by no other than the SEC. XRP’s price hit an all-time low after this, circulating around $0.17 by the end of 2020.
While this concerns crypto investors, Ripple still holds a great deal of potential. This is mostly because of the innovative RippleNet, as well as how easy it is to trade XRP.
Additionally, if Ripple wins the case against the SEC, it is quite likely that there will be more engagement with Ripple from traders.
Will Ripple’s Price Grow?
Some experts predict that the price of Ripple will rise again by the end of 2021. Forecasts made by investors on Medium determine that the price of Ripple may be able to go as far as $5 in the next few years.
On top of that, several savvy crypto investors and credible crypto websites believe that XRP will be able to bring a lot of profit to investors in the near future.
One factor that plays into this is Ripple’s partnerships with some very large companies. It gives Ripple some stability and may prevent it from hitting even lower prices.
Although the accusations made by the SEC caused a major loss, analysts suggest that Ripple is likely to thrive again and could reach as high as $10!
Is XRP Worth Buying?
In terms of fame, XRP is quite exposed to overall market observers. Formerly holding the title as third-largest cryptocurrency by market cap, many critics claim that Ripple is almost as popular as Bitcoin and Ethereum.
As fiat money declines in power, the crypto market is expected to rise, creating an opportunity for many traders to profit from it.
Investing in XRP, like any other crypto, does not guarantee profit immediately. However, some have made the prediction that by 2025, it could reach $6. This is pretty exciting for all eyes concentrated on Ripple.
Another prediction claims that by 2025, XRP could even reach $8, which will likely attract the attention of tech-savvy individuals in every corner of the planet.
Will XRP Bounce Back?
XRP continues to expand globally in 2021 and is focused on doubling profit. Market Haven suggests that 2021 could be one of the best for Ripple.
They determine that XRP price is bound to bounce back since Ripple has a capacity to achieve just as much as Bitcoin and Ethereum.
However, investing in digital currencies is always uncertain as the crypto market is unpredictable. Despite this, forecasts for Ripple’s value are largely positive, and shows that we may see an uptrend in value in the future.
Is XRP a Good Investment in 2021?
It has been estimated that XRP has the potential to double its current price by the end of 2021, once the lawsuit with the SEC has ended.
After the lawsuit, XRP will be able to move forward and become a more worthy channel of investment for 2021.
The strength of the crypto market is growing each day and the coronavirus pandemic has only solidified the shift towards digital assets.
Increased adoption of cryptocurrency is good news for the crypto industry indeed. The more the market grows, the more likely it is to be viewed as a good investment.
Remember that Bitcoin only reached $60k this year. We could see some similar action with Ripple, which could make it a good investment for 2021.
Read More: Ripple Price Prediction
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Virtual currencies are highly volatile. Your capital is at risk.
- The crypto world is becoming more influential each day.
- Ripple went through a major crash at the end of 2020.
- This price crash happened due to actions filed against Ripple, by the SEC in the USA.
- The forecasts made by investors on Medium determine that the price of Ripple may be able to go as far as $5 in the next few years.
- No other market is growing as fast as the crypto market.
- Some believe that the price of Ripple will rise substantially by the end of 2021.
- By the year 2025, XRP could reach $8, according to some forecasts.