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Ripple (XRP) Price Prediction and Analysis in May 2021

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Ripple (XRP) is the fourth-largest cryptocurrency, according to its current market cap of $62,407,542,785. It has a circulating supply of 45,404,028,640 XRP and a total supply of 99,990,831,162 XRP. Over the last 24 hours, XRP trading volume was $10,795,177,603, which is down by 35.40%. In this XRP price prediction, we will look at various aspects of this cryptocurrency to help traders make an informed decision.

XRP Price Prediction: Analysis

XRP is the currency that runs the digital payment RippleNet network. It joined the market officially in 2012, with an approximate price of $0.005. The coin attained its all-time high price of $3.400 on January 7, 2018, before it dropped massively to close the year at $0.361.

XRP price prediction

Fast forward to 2021, XRP has not had a smooth ride either. The coin started the year at $0.21 at the beginning of January before it escalated to $0.65 on February 1. Then, it closed the month of February at $0.41. In March, XRP witnessed a slight growth and closed at $0.57. The first half of March was seemingly good for the XRP coin.

XRP price prediction in the coming days:

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Source: walletinvestor.com

XRP started April at $0.57, and by April 15, it was already $1.73. As of this writing, the XRP coin is seemingly under pressure after hitting its year-to-date high of $1.96 in mid-April. This XRP price prediction might not show the exact price for tomorrow, but users need to take note of the factors that could affect its performance. From April 18, the XRP price has dipped considerably, perhaps because the market was focusing on the SEC lawsuit, in which the regulator accused Ripple of harassing it.

In a recent report by Bloomberg, the SEC vowed to continue with the lawsuit under the new chairperson, Gary Gensler. According to the report, the agency asked the judge overseeing the Ripple case to dismiss the crypto company’s request for internal communication documents. This event might have taken a toll on the recent XRP price.

According to Walletinvestor, the following are the pivot, resistance, and support levels traders should keep in mind when trading XRP.

  • Resistance Level (R3): 1.509;
  • Resistance Level (R2): 1.350;
  • Resistance Level (R1): 1.260;
  • Pivot Point: 1.101;
  • Support Level (S1): 1.011;
  • Support Level (S2): 0.852;
  • Support Level (S3): 0.762.

Developments

The latest development on the Ripple network, which might affect the XRP price, is the ongoing battle between the crypto company and the Securities and Exchange Commission (SEC). The Ripple team insists that XRP is not a security. Recently, Ripple, through its attorneys, requested the dismissal of the case, arguing that no part of XRP’s sales indicated that it was bought as a security or an investment.

The pressure around this case is mounting, and this might affect the XRP price in the coming days. However, in the meantime, some crypto enthusiasts in Hong Kong have identified XRP as one of the cryptocurrencies to help them facilitate payments during the pandemic.

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As lockdown continues in different parts of the globe, more users, especially small and middle-level businesses, might be interested in XRP to help them facilitate crypto payments. If this happens, it might add value to the coin and possibly increase its price.

Other analysts also believe that XRP is set to experience a massive surge to a new ATH soon. In a new tweet by a famous crypto trader and analyst, XRP is currently approaching a downward correction to 0.68 Fibonacci retracement support, which is likely to cause a possible bounce.

XRP Price Prediction: Market Opinions

For those who wish to invest in Ripple, this XRP price prediction could shed some light. Here are some of the market opinions on what to expect for the market in May 2021 for XRP.

Longforecast

According to Longforecast‘s XRP price prediction, it will open May at $0.98 and close at $0.82, leading to a change for May of -16.3%. The coin would attain a maximum price of $1.73 and a minimum price of $0.71. The average price for the month is expected to be $1.06.

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Tradingbeasts

Tradingbeasts gives the coin a bright future in the coming month. They say that XRP will reach $1.34 by the beginning of May 2021. The expected minimum price is $1.68, while the minimum is $1.14. The XRP price prediction for the end of May is $1.34.

Previsionibitcoin

According to this website, XRP could boost its price in May. They put the coin at $1.37 at the beginning of May. Moreover, they say that XRP will be driven by more investors buying the coin, technology adoption, and international acceptance. Media spotlight could also play a role in improving the XRP price.

XRP Price Prediction: Verdict

Amid its challenges with the parent company Ripple, it’s visible that XRP is pushing upwards. This shows the resilience and value that it has to offer. With upcoming catalysts, such as the Flare Network launch and a possible win against the SEC, the coin could draw more investors into its fold. This explains the optimism expressed in the market opinions. So, you just have to consider any important factor that could influence the XRP price behavior in order to make the right decision.

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XRP

XRP Has Great Risk-Reward Ratio, With 10x Price Rise Likely: Macro Guru Raoul Pal

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Raoul Pal is saying that global payments asset XRP has a great risk-reward ratio despite a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). 

In a new interview on Savvy Finance, the CEO of Real Vision and Global Macro Investor shares why he remains bullish on the crypto asset.

“XRP is a great risk-reward. The lawsuit – we’ve seen every lawsuit, every single one has been fine. Everybody’s actually cleared up after the event anyway and these events were a while ago. Bitmex, that’s happening, we’re going to see all of these, so I think it’s going to be a slap on the wrist that it could look like a security, there’ll be no admission of guilt on either side, there’ll be a payment of a fine and then XRP is free to run.”

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The former Goldman Sachs executive also identifies factors that will help drive up the price of the coin. 

“What’s interesting about XRP is there is quite a lot of use cases. Now, I know the bunch of Bitcoin people hate it– it’s not decentralized enough, I don’t care. Are people using it? Yes, a lot more than most people realize, and what’s amazing about this setup is you can’t buy on any of the exchanges and it’s not in the Bitwise ETF.  

“The Bitwise ETF is now a billion of the Bitwise index. The top 10 index is a billion dollars, so the moment XRP is free, they have to buy a few hundred million dollars in it as everybody else can because the exchanges will have it back, so you’re setting up for a hell of a nice run if this clears up.”

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Pal says it is still worth betting on XRP despite the possibility of Ripple losing in its legal battle with regulators. 

“Worst case it doesn’t? Worst case is, let’s say, 50% downside, best case is 10x from here, so I’ll take a 50 to 1 risk-reward for the next three to six months.”

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Chainlink

XRP, Chainlink and This Crypto Project Launching Bitcoin Smart Contracts Are ‘About To Go Crazy’, Says Altcoin Daily

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Altcoin Daily host Austin Arnold is listing three altcoins that he says are “about to go crazy”.

In a new video, Austin tells his one million YouTube subscribers that the altcoins in question are Dfinity Foundation’s Internet Computer (ICP), the bridge currency XRP, and blockchain oracle network Chainlink (LINK).

Kicking off the list with Internet Computer, Austin says that the crypto project focused on becoming a decentralized global computing platform, is planning to introduce smart contract functionality to Bitcoin.

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Internet Computer smart contracts will gain access to Bitcoin liquidity and Bitcoin will gain powerful new smart contract functionality without the need for insecure and cumbersome trusted bridging services.

So this could be big – a DeFi [Decentralized Finance] ecosystem for Bitcoin is a major industry initiative. It would mean the world’s most popular cryptocurrency, Bitcoin, could be used for lending, yield farming, derivatives, liquidity pools and more.”

Turning to XRP, Austin says the developer Ripple Labs has encountered a setback in the lawsuit filed against it by the U.S. Securities and Exchange Commission (SEC).

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“…Ripple filed a motion back in August 27th requesting information about whether SEC employees had purchased and traded Bitcoin, Ethereum and XRP. The United States Magistrate Judge Sarah Netburn rejected this motion on Tuesday…

…so what this means to you as a potential XRP holder is that Ripple will have to find another way to prove to the SEC that XRP is not a security. That’s of course the SEC’s point of view. They’re the ones that are suing Ripple and the case is heating up.”

In the case of Chainlink, Austin says that the blockchain oracle network’s recent integration with decentralized cold storage aggregator Coldstack is bullish.

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“…big green flag for LINK holders. Here’s the reason Chainlink was chosen – because in their [Coldstack] words ‘Chainlink is the industry standard in blockchain oracles’.”

Austin also quotes Coldstack’s CEO Alexander Shishow showering praise on Chainlink.

“In a direct quote from Coldstack CEO… ’There really isn’t any substitute for Chainlink – if we want to provide the best data storage solutions for our users, then it makes sense to use the best oracle service provider in the industry.’”

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Cardano

Top Analyst Plots Path Ahead for Cardano and XRP, Says Three Altcoins Are Now Attractive After Dip

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Michaël van de Poppe is sharing his updated forecast for two leading altcoins, Cardano (ADA) and XRP.

In his new video, the crypto analyst says that Cardano has hit important price levels, breaching the $1.90 to $2.10 range.

“I’m assuming that Cardano is quite close to being bottomed out at this stage, through which we can expect new impulse waves to be happening.”

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Van de Poppe next looks at the token’s Bitcoin pair (ADA/BTC) and says that there is a possibility that Cardano could see new highs.

“I’m expecting that we’re going to have some slight consolidation comparable to the area that we had in April. So some slight consolidation here until we crack resistance, but if we [do], I think we’re going to be running with new all-time highs or new highs for Cardano here as well.”

The trader also identifies a crucial price level for XRP that could indicate a bullish signal for the crypto market.

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“I think that if you want to get into the markets then the chances are here that we’re finally getting bottomed out and we are ready for the next impulse wave in the market.

What is the level to crack for XRP? The area around $1.05 is the one that it has to crack through. I’m not assuming that we’re going to get it in one go, but I’m assuming that once it breaks through there, I think all coins will be breaking out left and right. But this is a good candle on XRP.”

The widely-followed analyst notes that the downturn offers a good opportunity to get into the market, naming Avalanche (AVAX), Solana (SOL), and Fantom (FTM) as the three altcoins to buy during the dip.

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“Should you be getting interested in the markets when it’s approaching support and when projects are dropping down by about like 35% to 45%? Yes, of course. 

When you get towards the support, people will ultimately become quite bearish and they are only expecting further downward momentum. That is the moment that you want to get into the markets.”

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