In a day and age of blockchain technology gaining serious traction all around the world, newer cryptocurrencies are getting added almost daily. Ripple, or XPR, has been around for a long time now though and one with a potentiall exciting future; which is why a lot of potential buyers are asking what is the future price of Ripple? Will it go the way of the Bitcoin?
For starters, let’s be clear. The absolute value of a currency doesn’t matter – Ripple is currently priced at US$ 0.23 but it could well be at US$ 2.3 or 23 or more. What really does matter is the market cap and the percentage rise in the currency over the time.
And obviously the fundamentals behind the working of the cryptocurrency and what solutions does it offer.
That was a necessary thing to say because many people are looking to buy Ripple in the hope that the future price of XPR will jump up dramatically just because it’s at sub US$ 1 levels at the moment. And while experts reckon Ripple might touch US$ 1 by the end of the year, don’t expect it to get to jump to three or four-digit levels in a long, long time.
Because already, Ripple’s market-cap – or market capitalisation – is a whopping $9 billion. Only Bitcoin with $71 billion and Ethereum at $28 billion top that. For it to gain more popularity than Bitcoin will be tough enough but even when Ripple emulates it, it is looking at an eight-time price hike – whenever that is – and that pushes it to around the US$ 1.6 mark.
With that bad news – or a bubble burst – out of the way, let me tell you, I am very bullish on the prospects of Ripple and I believe the future price of Ripple will allow you to gain a lot of profit.
In the very near-term, there is an extravagant Ripple conference by the name of Swell that has been planned in Toronto for October 16-18. According to Ripple, this conference will bring together “leaders in banking and blockchain who are committed to changing the way the world moves money today.”
Former Federal Reserve chairman Ben Bernanke and Sir Tim Berners-Lee, who is known as the inventor of the World Wide Web have been invited as the keynote speakers, while some of the others invited for the event are Brad Garlinghouse, CEO, Ripple, Stefan Thomas, CTO, Ripple, Dilip Rao, Managing Director of APAC/MENA, Ripple, Amit Sethi, CIO, Axis Bank, Tom Jessop, President, Chain Inc., Kristen Michaud, Managing Director, Treasury Operations, GE Capital, Brian Behlendorf, Executive Director, Hyperledger, Ed Metzger, Head of Innovation, Santander, Mr. Nobuo Ando, Representative Director, SBI Remit Co., Ltd, Takashi Okita, CEO, SBI Ripple Asia, Dr. Arak Sutivong, Head of Strategy, Siam Commercial Bank, Rahul Pai, COO, UAE Exchange, Marwan Forzley, CEO, Veem and Dharmesh Desai, Group EVP, Yes Bank.
The buzz is that the Ripple price will rise in the lead-up to the event – and we can already see that happen (check the chart below) – as we get closer to the dates. One of the reasons for this is that Ripple fans are expecting some sort of a big announcement coming up but even if that doesn’t happen, there is enough excitement about the future of Ripple.
Our assessment is that there is a lot of positiveness about Ripple’s future and that sentiment can be expected to drive the cryptocurrency up to very high levels. Will we see Ripple hit the US$ 1 mark? Probably but we can never time the market. Some experts reckon it will be before the turn of this year, while others think it could well into 2018 when this happens.
One way or the other, these sentiments need to be backed by deeds by Ripple and so far they look to have delivered. Can they continue doing so? Well that’s the million-dollar – or a US$1 – question and a lot could be clearer after the Swell conference ends.
Till then, buy yourself a few Ripples, hang tight and brace your against the market volatility. It’s a good buy from a long-term perspective.