2019 was not a favorable year for Ripple, as it ended over 40% down from its starting quote. The nature of the network has continuously stirred up doubts over its uses and a foreseeable future for Ripple tokens. Instead of opposing the current financial system, as is the case with many other cryptos, XRP is designed to be integrated into it, so its survival as an independent currency is uncertain. Making a well-informed forecast of what the future of XRP will look like in September 2020 requires taking into account the fundamentals of this cryptocurrency network and assessing price fluctuations – both past and present.
Even though Ripple and XRP have become synonymous with each other, in theory, they aren’t. Ripple is the company that owns the network, and XRP is the name of the tokens. Although the official launch date is given as 2012, the history of this crypto dates back to 2004.
The prototype released in 2004 was called RipplePay and was made up of a Hash Tree instead of a blockchain. It was later rebranded as OpenCoin in 2012, before converting back to Ripple in 2015. At that time, the value of the coin was $0.005.
Ripple currently has a market cap of $12,848,206,462, securing the third spot in the cryptocurrency market. There are 99.99 billion coins in circulation, and $1,223,695,855 have been traded in the last 24 hours. It is worth noting that XRP tokens cannot be mined because the currency was launched with a finite number of 100,000,000,000 pre-mined coins.
XRP Price Prediction: Analysis
Ripple experienced little or no movement until it skyrocketed to an all-time high of $3.84 on January 4th, 2018. It fell steadily and closed the year at $0.35. The presence of XRP on the cryptocurrency market has not decreased, but it did not manage to get close to the figures of once upon a time.
From $0.205160 on July 23rd, XRP rose to $0.321055 on August 2nd and fell to $0.276744, intraday. It would rise again and stagger all through the rest of the month, generally trading between $0.27 and $0.32. It peaked at $0.32332 on August 17th. Even so, Ripple has increased by almost 50% in the past month. However, at the current price range, XRP fluctuations may be considered insignificant in monetary value. As of today, Ripple is $0.285802.
The price on the crypto market may not show, but XRP tokens are in high demand. 250 banks use Ripple’s digital payment network in more than 50 countries, including a third of the world’s top 100 banks. RippleNet Cloud now hosts Brazil’s top volume production bank, Banco Rendimento. Among the users of Ripple’s protocol are Mitsubishi UFJ Financial Group, American Express, MoneyGram, Santander, and more. Most recently, US banks have been authorized to hold XRP coins for their customers, along with BTC and ETH.
XRP’s selling point is the eradication of pending transaction times and fees that are common with fiat institutions. These tokens are effectively a success, as Ripple is now the leading crypto for real-time payment settlements, remittance, and cross-border exchanges.
Jacques Zylbergeld of Banco Rendimento said, “We migrated to RippleNet Cloud to give our customers the chance to connect with global partners easily, faster and with more transparency…….and Ripple is helping us do that.”
Ripple Price Prediction: Market Opinion for September 2020
Market sentiment usually has the greatest influence on currency forecasts, so before reaching a verdict, let’s examine the projections made by other Ripple forecasting sites.
Longforecast anticipates that XRP will open in September at $0.27. It will then experience slight fluctuations throughout the month, reaching a high of $0.32 and a low of $0.22. It will finally close at $0.26, a negative difference of 3.7%.
According to Tradingbeasts’ Ripple price prediction, the currency will reach $0.3419501 at the start of the month and close at $0.3410082. The maximum and minimum expected prices are $0.4262603 and $0.2898570, respectively.
Gov.capital projects that the bullish trend of XRP will continue into September. The site’s ripple price prediction shows the currency valued at $0.290 on September 1st and at $0.361 by the 30th. Daily predictions for the entire month reveal that XRP is expected to hit the $0.295 mark on the 20th and continue trading above the threshold for the remainder of September.
|Calendar date||Regular||Least possible price||Best possible price|
|2020 September 01, Tuesday||0.290||0.2465||0.3335|
|2020 September 02, Wednesday||0.284||0.2414||0.3266|
|2020 September 03, Thursday||0.283||0.24055||0.32545|
|2020 September 04, Friday||0.276||0.2346||0.3174|
|2020 September 05, Saturday||0.272||0.2312||0.3128|
|2020 September 06, Sunday||0.266||0.2261||0.3059|
|2020 September 07, Monday||0.269||0.22865||0.30935|
|2020 September 08, Tuesday||0.266||0.2261||0.3059|
|2020 September 09, Wednesday||0.259||0.22015||0.29785|
|2020 September 10, Thursday||0.257||0.21845||0.29555|
|2020 September 11, Friday||0.256||0.2176||0.2944|
|2020 September 12, Saturday||0.260||0.221||0.299|
|2020 September 13, Sunday||0.258||0.2193||0.2967|
|2020 September 14, Monday||0.255||0.21675||0.29325|
|2020 September 15, Tuesday||0.251||0.21335||0.28865|
|2020 September 16, Wednesday||0.252||0.2142||0.2898|
|2020 September 17, Thursday||0.256||0.2176||0.2944|
|2020 September 18, Friday||0.276||0.2346||0.3174|
|2020 September 19, Saturday||0.288||0.2448||0.3312|
|2020 September 20, Sunday||0.295||0.25075||0.33925|
|2020 September 21, Monday||0.344||0.2924||0.3956|
|2020 September 22, Tuesday||0.353||0.30005||0.40595|
|2020 September 23, Wednesday||0.356||0.3026||0.4094|
|2020 September 24, Thursday||0.341||0.28985||0.39215|
|2020 September 25, Friday||0.3098||0.26333||0.35627|
|2020 September 26, Saturday||0.339||0.28815||0.38985|
|2020 September 27, Sunday||0.342||0.2907||0.3933|
|2020 September 28, Monday||0.344||0.2924||0.3956|
|2020 September 29, Tuesday||0.347||0.29495||0.39905|
|2020 September 30, Wednesday||0.361||0.30685||0.41515|
Crypto-rating gives an average XRP price prediction of $0.379576. This suggests an increase of 33.45%, confirming the unanimous bullish trend expected in the coming weeks.
XRP Price Prediction: Verdict
Whether or not Ripple will reach the $1 mark before the year runs out is yet to be seen. But for September 2020, the signs are strongly pointing towards a continued bullish performance, which should peak at the end of the month.
Featured image: coin-insider.ru