Brad Garlinghouse, the CEO of Ripple – the FinTech company that has close ties to XRP – explained in a recent interview that he believes the vast majority of cryptocurrencies that are currently on the markets will eventually plummet to zero.
Naturally, XRP does have its fair share of naysayers who believe that it will be one of the cryptocurrencies that ends up going to zero, but Garlinghouse remains adamant that the utility that is currently being created around XRP will be enough to propel it higher in the months and years to come.
Ripple CEO: Majority of Cryptos to Die in Coming Years
During a recent interview with Bloomberg, Garlinghouse explained that the sheer amount of digital assets currently circulating within the cryptocurrency markets is primarily the result of the hype surrounding the nascent technology.
As this hype fades, however, he anticipates the majority of these cryptocurrencies to plummet to zero due to their lack of actual utility and their inability to meet customer needs.
“Anytime there is a new market, there are a lot of people that run into that market and try to show that they can solve a problem, they can deliver a customer need,” he explained, going on to say that 99% of these assets “probably goes to zero.”
Will XRP Avoid the Market-Wide Purge?
There are many analysts and investors who believe that the utility surrounding XRP – the native token to Ripple’s xRapid cross-border settlement system – is fabricated and that the token will ultimately be included in the event that Garlinghouse believes will bring many cryptocurrency’s value towards zero.
Despite this, Garlinghouse did explain that XRP does have significant utility, especially while considering the inefficiencies of SWIFT, including its “transaction volatility,” which Ripple believes is solved by XRP.
It is important to note that XRP has been stuck in a period of consolidation for the past couple of weeks, and it has been unable to break above its resistance at $0.30 despite the on-going Ripple Swell conference – which is where positive news surrounding the adoption of XRP is often announced.
Assuming that Ripple doesn’t incur its annual “Swell pump” in the coming few days, it may face further downside in the near-term. Ultimately, however, its long-term success will likely be largely dependent on how much real-world utility is generated around the crypto.
Ripple 2025: Long Term Investment Is The Best Option
- Ripple by the year 2025 is going to rise to $4.50 with the average at $2.25, and the important prediction is XRP might mostly expect a downfall this year.
- Ripple has managed to create a stand with a whopping ROI (Return on Investment) of 4,598.53%.
- Cryptocurrency market watchers have concluded that XRP is favorable for individuals looking to invest for the long term.
Ripple is the most talked-about coin in the crypto sphere for its global adoption and the best in the class Blockchain network. Ripple is both a Digital coin and platform derived from the XRP ledger.
It is considered the most efficient of all the digital coin with faster transaction rates in its network and easy settlement option to its liquidity providers. The Ripple Blockchain is highly used in financial institutions, banking sectors, settlement options, DApps and much.
The network also facilitates RippleNet, which is an enhanced solution for payment providers and institutional bodies to connect global clients and make pave for peer to peer global transactions.
The Rank #3 holder in the digital coins, Ripple is more diverse in terms of application. Ripple is mainly used for three benefits which are the Low Commission currency exchange, which is the best feature for any individual to transact globally with the added advantage of faster transactions than the average crypto coins.
And the most speculative advantage of payment ecosystem where the individual or the user can create their own crypto coin on the ecosystem and can use the XRP Blockchain to facilitate the transaction. However, Ripple is not decentralized as its competitors, and the company itself owns more than 61% of the stake.
Ripple 2025, XRP is suitable for Long Term Investment
The market watchers have already predicted Ripple’s stand in the coming years and have concluded that XRP is favorable for individuals looking to invest for the long term.
XRP is currently having a market value of $0.27 USD with bulls holding the rally at an average of 2.21% and has gained significant proportions of 0.59% against BTC adding 0.00002842 BTC.
Ripple has market capitalization of $12,070,093,989 USD with 24 hour trading volume of $2,648,391,390 USD. The circulating supply of XTZ has reached 43,734,776,327 XRP out of its total supply of 99,991,083,433 XRP.
The maximum supply of Ripple is capped at 100,000,000,000 XRP. Ripple has managed to create a stand with a whopping ROI (Return on Investment) of 4,598.53%, which is a great figure. XRP scored an all-time high at $3.84 in the year 2018, and its least market value of $0.0028 in the year 2014.
Ripple by the year 2025 is going to rise to $4.50 with the average at $2.25, and the important prediction is XRP might mostly expect a downfall this year as per analytical charts, and later in the year-end, it will climb back with the average circling at $0.46.
XRP will rest on the support of $4 by the year 2025 if XRP gets global adoption and will happen if the development team behind Ripple is focusing on creating innovative projects and platforms for global adoption. Ripple is expected to rise year wise with new highs and reach the predicted level in 2025.
Ripple (XRP/USD) forecast and analysis on February 22, 2020
Cryptocurrency Ripple (XRP/USD) is trading at 0.2777. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Ripple. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.
Ripple (XRP/USD) forecast and analysis on February 22, 2020
As part of the Ripple course forecast, a test level of 0.2860 is expected. Where should we expect an attempt to continue the fall of XRP/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 0.2410. The conservative sales area for Ripple is located near the upper border of the Bollinger Bands indicator strip at 0.3070.
Cancellation of the option to continue the depreciation of the Ripple will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair above the area of 0.3100. This will indicate a change in the current trend in favor of the bullish for XRP/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.
Ripple (XRP/USD) forecast and analysis on February 22, 2020 implies a test level of 0.2860. Further, it is expected to continue falling to the area below the level of 0.2410. The conservative sales area is located is near the area of 0.3070. The cancellation of the option of falling cryptocurrency will be a breakdown of the level of 0.3100. In this case, we should expect continued growth.
Ripple Price Weekly Forecast: XRP/USD road to $0.35 mapped
- Ripple is naturally grinding towards an IPO but experts say the move could hurt XRP massively.
- Ripple price forced closer to the immediate support at $0.27 but a falling wedge pattern hints another rally to $0.35.
As the week grinds toa halt, cryptocurrencies are rolling in a positive direction. The positive resonation comes after a couple of days that saw bulls paralyzed in the cryptocurrency market. Both the Asian and European sessions on Friday have been characterized by broad-based gains. All the top three cryptocurrencies Bitcoin Ethereum and Ripple are trading significantly higher than the weekly lows. Bitcoin price is doddering at $9,690 after resuming the uptrend from the previous low at $9,300. Ethereum has stepped closer to the resistance at $265 but adjusted to $260.
Ripple price, on the other hand, is trading at $0.2745 after surging a subtle 1.25% on the day. The price has advanced from $0.26 (weekly lows). An intraday high has been established at $0.2786. The trend prevailing is bullish but the low volatility level suggests that action towards the weekend session could be drab and sideways.
Crypto industry overview: Ripple enters the fight against cryptocurrency scams
Ripple as a company has committed to helping users within its network win the war against the ever-growing cryptocurrency scams. A portal has been launched to receive requests from users who meet suspicious activities related to the XRP Ledger. Some of the activities to be reported will include theft, phishing attempts, fake giveaways, suspicious crypto exchanges, transactions that are unauthorized, money laundering activities and other financial related crimes.
Looking forward, Ripple said that it will use its resources to carry out investigations, however, the company will not make the victims whole by reversing the transactions. The move is expected to bring some sanity to the crypto industry especially when it comes to the loss of funds through scams and illegal activities. Users within the network will also feel some sense of security that Ripple is looking out for their interest. The move could eventually increase demand for XRP as more investors look for security and accountability with the funds they invest.
Ripple’s possible IPO could harm XRP
Ripple is likely to join the race towards becoming a publicly traded entity in the next 12 months. Brad Garlinghouse, Ripple’s CEO has not confirmed the rumor per se, however, he agrees Ripple prefers “to be on the leading side.”
In the next 12 months, you’ll see IPOs in the crypto/blockchain space. We’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side… it’s a natural evolution for our company.
While Ripple’s growth as a company is leading it naturally towards an IPO, experts argue that the move could be harmful to the XRP token. One analyst, Rakesh Upadhyay says that since Ripple is yet to make diverse inroads in the “global money transfer system in a major way,” participants in the IPO could soon seek results, in turn, hurting the XRP price. Moreover, the head of markets at Cointelegraph, Allen Scott believes that an IPO will be bad not just for Ripple but also for XRP.
Many see Ripple selling XRP regularly as a recurring ‘IPO’ already sans shareholder rights. So this might actually hurt Ripple — it would put into question not only its operational costs and business model of dumping on the market but more importantly, the existence of XRP.
Ripple price forecast: XRP/USD temporally setback, $0.35 still in sight
Ripple closed last week trading close to the yearly highs at $0.3464. However, that seems to have marked the end of the rally that started at the beginning of the year. Losses were mostly unstoppable at several tentative support areas at $0.32, $0.30, and $0.28. However, XRP/USD met an avalanche of buying pressure at $0.26, culminating in a recovery that has seen it rise above $0.27.
The upside is limited at the 23.6% Fibo level taken from the last high at $0.3464 to a low at $0.26085. Forming a confluence in the same $0.28 zone is the 50SMA on the 1-hour chart. Since the resistance at $0.28 has been tested to Friday, there is a possibility of the price sticking closer to the immediate support at $0.27. Further breakdown is expected to find support at the major trendline (dotted) and the weekly low at $0.26085.
In terms of recovery, the formation of a falling wedge pattern hints that the losses suffered are just but a temporary setback and Ripple price could soon be on a trajectory back to $0.35.