Now that the crypto market is living through its downtrend, it is the best time to buy crypto long-term. The question is, what assets are supposed to skyrocket during the next bull trend? In this article, we would like to talk about one of the most traded assets throughout all crypto platforms – XRP, find out what affects Ripple cryptocurrency price, and see what experts say about its future prospects.
What is Ripple?
The Ripple project emerged long before the world heard the word “cryptocurrency”. Ripple is a network for quick and cheap remittances around the world, competing with the Swift technology used by traditional finances. The preferences of Ripple over Swift:
- quick money delivery worldwide (2-5 seconds);
- low costs ($0.0002 per transaction);
- ability to perform 1,500 transactions per second.
Over 100 organizations have already integrated with the Ripple network in their work, which facilitates transactions worldwide and excludes middlemen and delays.
How is Ripple Crypto Price Formed?
As always, crypto price depends on such factors as demand-supply balance, economic situation, inflation, etc. Ripple was sued by the SEC for refusing to confess and for the XRP token as a security. The court case has been lasting for a couple of years now, and it slows down the Ripple development. As of December 14, 2022, the Ripple live price is $0.34.
What are the Prospects?
Crypto analysts claim the sooner Ripple solves the issues with the SEC, the sooner it will grow and get more partners and clients. The token rate may reach $1.51 in 2025 and $8 in 2030, but everything will depend on the lawsuit and the overall market trend. 2030 is expected to be a bull tendency for the industry, so we expect XRP price growth.
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Interesting post, very informative.