After a remarkable run to second place on the rankings, a run that saw Ripple (XRP) grow by over 30,000% in 2017, the digital asset has faced a torrid period since January all-time high. The fall from $4 USD on some global cryptocurrency exchanges to below the $0.25 mark has continued to cause massive worry amongst some quarters of the XRP community and investors. Nonetheless, some investors and HODLers of XRP remain optimistic of the future as the latest addition of USD/XRP as a base currency on Bittrex cryptocurrency exchange and the recent talks Ripple Inc. is having with banks in Germany to adopt the technology. A tweet from an enthusiastic XRP follower read,
“So first the Bittrex CEO said #xrp isn’t a security, Bittrex then lists usd/xrp as base currency and now announced it will be an onboarding ramp for #xrapid. Make sure you have some xrp in your portfolio as things will get very interesting soon.” – @woodaldo on Twitter
The reversal of XRP’s price.
Still a long way to go for XRP price even as the market rebounded from the strong bear trend to bulls taking over the market. After falling below the $0.25 support level earlier in the week, XRP has increased by 30% since Wednesday, August 15 2018 to trade at $0.35 USD. In the past 48 hours, both the XRP/USD and XRP/BTC pairs have registered a value increase above 10% and look to be on an uptrend as the market recovers from the recent shocks. XRP gained 11.34% against BTC in the last 24 hours as one XRP unit traded at an average of 0.00005279 BTC on major exchanges.
This reversal in XRP fortunes has given the XRP investors new hope with the predictions going higher and higher as the price increases. An XRP fanatic on Twitter, The Rippenning predicted a possible price of XRP at $100 USD is not a far call given the rise in price witnessed in 2017.
“XRP went up 35,000 percent in 2017. Same increase this year would [be approximately [$90-$100 [USD].
Quit thinking anything is impossible in crypto. We have NO clue what could happen. But we’ve seen what CAN happen.” – @The_Rippening on Twitter.
Future of XRP price
The recent bump in price shows the vast potential the coin holds with a $5 dollar mark prediction in no way an exaggeration. The largest holder of XRP, Ripple Inc. has continued to create partnerships across the board as it plans on the integration of XRP as a payment system to its institutional investors. Partnerships with JP Morgan, BBVA, Santander Bank and Bill and Melinda Gates Foundation has propelled the company to a global status and with a $0.5 USD in sight, better days are to come for Ripple.
Are we witnessing a run in the crypto universe that we saw in 2017 or is XRP slowly pulling its weight into becoming a globally accepted payment system?