Ripple XRP Price Prediction 2020
Ripple XRP price prediction for 2020 and ripple price analysis.
The Millenials they are truly the first generation to grow up with technology at their fingertips. Soon they will transact with cryptocurrencies on a daily basis, without even thinking about it and Ripple XRP will play a big role in the upcoming digital money globalization.
What about the XRP price?
When can we expect it to start rising again?
How High can the price go in 2020, can we already forecast brand new all time highs?
Those are the main topics for this video... let's get started.
Ripple XRP has the third largest marketcap.
Bitcoin is of course top dog with the largest market capitalization and ethereum is number 2.
Ripple XRP price is currently trading just under $0.30 and not so long ago it was at $0.25...
at that level many investors rushed to their trading platform to accumulate more coins and enjoy that 4 XRP for $1 deal.
This is why there is a strong buying support at $0,25.
In 2018, despite the bear market, there has been a plethora of good news for Ripple.
The Ripple company was constantly signing new partnerships with private and national banks. This is mainly due to their very strong USP:
>>> Faster and cheaper cross border transactions
Ripple is so efficient that this year, even MoneyGram, the multi bullion dollar international money transfer company, has decided to partner up. Following the announcement of the partnership, MoneyGram's shares jumped by over 150%.
So you might wonder why the price of MoneyGram's share has jumped and pretty much no action on the buy XRP UK or USD price?
Well first of all you must understand that MoneyGram is a company. Therefore when you buy MoneyGram shares, you are buying a small portion of that company. Ripple is a company too but XRP is not a share of the Ripple company. XRP is a cryptocurrency used by the Ripple company.
The main purpose of XRP is to be used as a global utility in the financial settlement business.
Yes great contracts have been signed and new partnerships are constantly created but we are still in the foundation phase.
Volume precedes price and we can clearly see from daily volume of XRP being traded that it is not increasing proportionally with the number of new partners. Why is that?
Well I think, and this is only my personal opinion, I think that big institutions move slowly and with a lot of precaution. They have signed contracts with Ripple because they know that cryptocurrencies are about to change the financial world, so they pretty much don't have a choice on that matter.
Nevertheless they will not proceed in a hasty way.
A lot of testing and simulation must take place before the coordinated slow launch and if very large sums of XRP have to be purchased or sold, it will probably take place on the OTC market.
This leads me to think that the volume we see on Yahoo Finance and Coinmarketcap.com are clearly not the full picture but rather a representation of the retail market activity.
Which brings me to the first important question... when will the XRP price start to rise again?
As stated earlier, volume precedes price. So for the XRP price to start to rise again we need a big influx of brand new retail investors in order to boost trading activities on the exchanges where the volume can be measured.
Now who will bring those new investors to the market? The Media.
By Media, I am not talking about your Coindesk or your Cointelegraph.
I am talking about mainstream media such as BBC, CNBC, Bloomberg and even the Sun Newspaper.
Yes, it is true that those media already inform the public about the cryptocurrency market but they will really go hard at it once the top dog, BITCOIN makes a brand new all time high. Once the Bitcoin price passes the $20,000 mark, it will be all over the news and the FOMO will start.
Most people won't be able to afford 1 full bitcoin and because they are new to the market, most of them won't know that they can actually purchase just a fraction of Bitcoin. Yes I know, for you it is common knowledge that you can purchase satoshis instead of a full bitcoin but trust me, for most newbies it is not that clear until someone takes the time to explain it to them.
So because they cannot afford bitcoin they will look for the next best thing. They will see Ethereum... it is interesting but it s already over $100 per coin. Then they will see XRP, still under $1, just like bitcoin when it got started.
XRP is the cryptocurrency that many newcomers will buy because the price still looks attractive compared to other cryptos and the Ripple company has partnership with household name such as American Express And Moneygram.
This is when the number of new account openings on cryptocurrency exchange such as Coinbase, Binance and Etoro will skyrocket.
Therefore the volume of XRP trading will increase dramatically and the price could really go parabolic.
So basically, in my personal opinion, the XRP price will really start to make some serious move higher, only once the mainstream media starts to induce FOMO. The main trigger of that FOMO will be a brand new all time high on the Bitcoin price.
As I explained in my previous article about the $60,000 bitcoin price prediction, the next BTC halving will take place in May 2020 and the bitcoin price has to rise in order for the cryptocurrency mining business to remain profitable. The Bitcoin price will rise to new high in a very near future and the whole cryptocurrency market will benefit from it, including the Ripple XRP price.
The next important question is how high the XRP price can go in the next cycle, what is my exact Ripple XRP price prediction for 2020?
To accomplish this exercise, our best allies are the charts. You see when it comes to market analysis, I tend to think that price data is the closest thing to the truth. And of course past performance are not indicative of future results but they are still very useful because although History does not repeat itself, it often rhymes. Therefore if we study the XRP price history, we can find valuable clues to predict the next potential cycle high.
History shows that retail investors started accumulating XRP coins in May 2013.
Back then, XRP was not listed on any cryptocurrency exchange and the lucky pioneers received their coins via promotional airdrops. Yes Ripple was giving away XRP coins to whoever opened a new wallet and submitted a request.
It is only by December 27th , 2013 that XRP trading really started.
Until then, although the XRP price fluctuated, there was no real trading volume.
Therefore, in order to establish my Ripple XRP price prediction, I will only use the historic data post December 27th 2013. Also keep in mind that due to the huge amount of data, and due to my trading style, I will use a representation of the average XRP price across all exchanges and not on 1 particular platform.
Finally I will mainly focus on trading areas of high significance such as support and resistance.
OK let's analyse the first phase of Ripple XRP price action.
When we have a close look at the first few months of the XRP trading activity, we can see that the average daily volume traded was under $100,000 and that the price rose to $0.029... just under 3 scents of a dollar $0.030
This is a very important number. Please keep that it in mind.
Then the price declined and went as low as $0.0029... just under a third of a scent $0.0030 in July 2014
Then the price started to rise again and managed to reach $0.0275.. roughly .. which is roughly 3 scents again - 0.030 again in December 2014
This is a very important phase of XRP price action.
The price reached a resistance level around $0.03 ... then dropped to 1/10 of its value before rising tenfold.
in summary For phase 1, The main 2 important number to remember are 0.003 and 0.03
I hope you are paying attention, let's move to phase 2.
After December 2014, the XRP price went through another long period of price correction until April 2017.
Indeed in April 2017 the XRP price tried many times to break away from the 3 scents area but failed and kept on hovering around that very level.
It is only in the beginning of May 2017 that the XRP price finally left that 3 scents zone and reach a brand new all time high of $0.41 before quickly dropping to $0.20 and subsequently hovering around $0.30 for several weeks.
Here again, we have over tenfold price increase from the previous high.
The most significant trading area during phase 2 were the 0.03 level and the 0.3 level
For phase 2, The 2 main important number to remember are $0.03 and $0.3
I hope that you are still paying attention, let's move to the next phase.
During phase 3...
The XRP price stayed around $0.30 for the most of June 2017 then started to dropped during the summer.
At the end of August 2017 there was 1 attempt to break above the $0.30 resistance but it failed. There was another attempt in October 2017 that failed too and there was a third attempt in November 2017 that also was a failure.
Three strong attempts and three consecutive failures...this shows how important the $0.30 resistance level was.
It is only by mid-december 2017 that this resistance level was finally broken and that the XRP price finally went into a new price exploration mode. This new price discovery went once again, roughly tenfold above the previous high.
The price went as high as $3.30 or $3.75 depending on which exchange you were using at the time.
Since the January 2018 all time high, the XRP price has been in another long correction period ( as it did in its previous phases ) and the price is now hovering around its previous resistance zone, once again around $0.30
For phase 3, The main 2 important number to remember are $0.3 and $3.3
Based on what has been presented so far, based on the previous XRP price phases and if history continues to rhyme, we can rationally expect the next XRP high to be tenfold its latest all time high. As previously stated, in the last bull run the XRP price reached at least $3 on most cryptocurrency exchanges. Therefore my Ripple XRP price prediction for 2020 is $30.
This is my personal opinion. This is not financial advise, I am not a financial adviser.
That being said, to me a $30 XRP is highly probable.
And if you take into consideration all the fundamental factors that play in favor of the Ripple company and in favor of cryptocurrencies in general, $30 per XRP token is actually a very conservative prediction.
All things taken into account, the XRP price could really spike much higher for a brief moment and catch everybody off guard...then stabilize around $30.
And please keep in mind that the cryptocurrency market is a very volatile market, everything is possible, everything can actually happen today or tomorrow. So once again please understand that $30 is MY personal price target for Ripple XRP.
Make sure to do your own research and take action based on your own opinion.
AND I would be curious to know your thoughts, what is your XRP price prediction for 2020?
Please share your views in the comment section.
If you are new to the cryptosphere and if you are looking for an easy way to buy ripple XRP with paypal or with a debit card, just click on the banner at the top of this page.
The Ripple XRP Price is currently under $0.30... if after a thorough reflection you decided to invest $1000 in XRP today,
you would have an investment worth over $100,000 when XRP reaches $30.
I am sure you will find a smart way to spend $100,000.
All cryptocurrency and Ripple XRP price prediction that I post on this site and on my youtube channel are only the expression of my personal views on the current state of the cryptomarket. All contents, ripple xrp news and cryptocurrency videos are for informational purpose only and should not be considered as financial advise.
#RippleXRPPricePrediction #ripplexrp #rippleprice #xrpprice #xrppriceprediction #ripplepriceprediction #ripplexryptocurrency #xrpcryptocurrency #xrpcrypto #ripplecrypto #xrpusd #ripple #ripplexrppriceprediction2020 #ripplepayment #ripplecoin