Connect with us

Hi, what are you looking for?

ELEVENEWS

Ripple

Ripple (XRP) Price to Hit $7 Mark, Claims Crypto Analyst

Although the 7 US dollar prediction might seem to be far fetched, still it can turn into a reality.

Since the beginning of the year, Ripple (XRP)’s price changes have been moving at a plodding pace despite the company’s growing popularity in the world of financial technology. Global investors, financial institutions, banking firms, celebrities, market analysts have already put their weight behind Ripple in its quest to revolutionize the face of cross-border settlements.

Although the prices of XRP have remained unchanged for a long time, exchanging at around 0.25 US dollars for weeks, a section of crypto analysts believes some endorsements will soon start reflecting in the price value of Ripple’s default currency, XRP.

One crypto analysist going by the Twitter name @XRPBitcoin predicts Ripple will soon start witnessing a massive price upsurge that will see the crypto coin settling on the 7 US dollar price level. Through his Twitter page, @XRPBitcoin tweeted:

https://twitter.com/XRPBitcoin/status/1173252366164008960

According to many, @XRPBitcoin’s Ripple XRP prediction seems to be a very far-fetched target for the crypto token to reach the 7 US dollar mark this year, but in an industry such as this, anything is possible, and it will be wrong to rule out his argument completely.

History Gives Clues to this Predictions

According to Ripple (XRP)’s price chart, Ripple’s crypto token has bottomed out. On looking at its chart, it is evident that there isn’t much room for the virtual token to fall beyond its current value because the 0.25 US dollar mark appears to be a healthy historical support level for the crypto asset.

Ripple XRP price chart all time, coinmarketcap TWJ Crypto
Source: CoinMarketCap.com

On looking at the overall price chart, it is clear that Ripple’s current situation is indeed the bottom if we do not consider the consolidation base the crypto asset experienced before the last significant price surge that peaked on 3rd January above the 3 US dollar level.

According to experts who are examining the claims of the Twitter crypto analyst, @XRPBitcoin, the natural progression of Ripple prices should be upwards from its previous baseline if there aren’t any exterior manipulating factors messing things up.

Although the 7 US dollar prediction might seem to be farfetched crypto followers should expect great things coming from Ripple’s XRP in the coming days and weeks.

Other Ripple XRP News: Ripple Expansion Efforts

So far this year, Ripple has had a successful run as the San Francisco-based fintech company has been able to pen down a lot of partnerships. Ever since its conception, 2019 has been the year Ripple has made considerable efforts to promote the entire XRP ecosystem.

It is worth noting that Ripple-backed Wietse Wind and XRPL Labs have also made tremendous efforts to promote XRP and its entire ecosystem like Ripple Labs.

Despite the many partnerships and products, the company has been dishing out to promote its default currency, and its blockchain platform, one of the most notable ventures Ripple is undertaking must be its efforts to expand beyond the cross-border settlements industry.

Ripple’s Plans to Grow its Reach Beyond International Payments

At present, Ripple is looking into ways the fintech firm can expand its reach beyond the international payment industry. It is evident to everyone familiar with Ripple that the company has been focusing on revolutionizing the global settlement sector with its products using XRP.

Ripple has been so focused on this mission that it managed to bypass SWIFT, the giant traditional settlement network that financial institutions have been using for decades now.

The San Francisco-based blockchain firm has managed to offer products and services that have filled the gaps and flaws the SWIFT platform was attached to creating a superior experience for customers.

Also, Asheesh Birla, Ripple’s Senior Vice President of product management, recently shared with Change the Wave podcast that Ripple is in the process of looking into ways it could play a direct part in the emerging sector of micropayments. Asheesh said,

“If you go to some developing countries you will find out that getting a microloan of about 10 US dollar loan is a big deal. I think blockchain could offer such services in a way that could not be done with other technology.”

News Source

Advertisement

Copyright © 2020 Elevenews