Ripple Price Predictions 2017: XRP Price Could Cross $1 Mark by End of Year

Ripple Price Predictions 2017: XRP Price Could Cross $1 Mark by End of Year
By : Gaurav S. Iyer, IFC - August 29, 2017

http://www.profitconfidential.com/cryptocurrency/ripple/ripple-price-predictions-2017-xrp-dollar-1/

Despite Volatility, Ripple Prices Might Be Headed Higher

The Ripple market cap has grown +3,500% this year, yet our Ripple price predictions for 2017 suggest there are more gains to come. We believe XRP could breach the $1.00 mark before swearing in the New Year, giving investors roughly 400% upside potential.

Right now, the Ripple coin price is around $0.197200. To be fair, it could change between the writing and reading of this report, but it’s important to specify the current state of affairs.

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Otherwise, skeptics may claim we engaged in “Monday morning quarterbacking.”

It’s not true. Our XRP price forecast shows “hockey-stick” growth in the currency’s future. What is unknown, however, is the catalyst.

Maybe it will be expansion into China, or success with “Interledger,” or adding a major American bank onto the network. All of these tailwinds could send Ripple soaring.

However, only a fool would try to time this trade.

Article Index:

What is Ripple?
What Separates Ripple From Bitcoin?
Ripple Price Predictions for 2017
Analyst Take
The market is extremely volatile at the moment, meaning that your investment thesis should stand on solid ground. Believe enough in the bet so that you can remain confident in the face of a wild downturn.

That way, you don’t have to sweat every twist and shiver of the Ripple XRP price.

For instance, I wrote a bullish piece when Ripple was trading around $0.15. It jumped to near $0.30 within a week, at which point I wrote another bullish article. The same arguments were true in both pieces and will likely be true again.

However, the investor that stays calm when XRP prices modulate will end up walking home the winner. The other guy would sell at $0.15. He would have given into doubt, fear, and anxiety. He would have traded his courage for a big bag of nothing.

ripple_price_chart

#1 What is Ripple?

Perhaps we should take a step back, though. Some readers might be unfamiliar with Ripple and its unique place in the cryptocurrency world.

If so, welcome.

Don’t be nervous. Cryptocurrencies sound much scarier than they are, particularly with the jargon that is incomprehensible to outsiders. It’s not that complicated, really.

Ripple is attempting to disrupt “SWIFT,” an international payments service that runs a de facto monopoly across the globe. SWIFT has 11,000 client institutions in over 200 countries.

Those of you that have sent an overseas bank transfer know exactly what I’m talking about. There is an identification number required for the payment to be processed that is literally known as the “SWIFT code.”

Anytime you send money via SWIFT, the money travels from your bank to a server elsewhere in the world, and then onto the recipient bank. Those servers are like gigantic highways running endless series of Brink’s trucks on them.

In other words, they are amazing targets for criminals.

Also Read: Cryptocurrency Price Predictions 2018: Ripple Is the Clear Winner

Ripple thinks the whole idea of running payments on a highway is silly. It wants to run those payments on a blockchain network, which is the technology pioneered by Bitcoin.

In a blockchain system, money is held everywhere, simultaneously, on thousands of computers. Each account is accessible by a cryptographic key (a really long password of numbers and letters that is impossible to hack) and each transaction is recorded on the public ledger.

There are many different blockchains, but Ripple wants to be the central one that clears transactions for the rest. It developed Interledger for precisely this purpose, to connect all the various blockchains so that transactions can go from one currency to the other.

But to zoom back out to the 10,000-foot view, Ripple is essentially a company taking on an existing monopoly in the world of finance. SWIFT faces nearly no serious competition in its line of business.

#2 What Separates Ripple From Bitcoin?

It is fair to ask why investors should care about Ripple when Bitcoin already exists. Doesn’t first-mover advantage count for anything? It does…to a point.

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Ripple is a company, not a collective, giving it a better structure for decision-making than Bitcoin’s ragtag group of developers. Plus Bitcoin is trying to convince the masses that it is preferable to the fiat money in your pocket. Ripple is aiming much lower than that.

It just wants to replace SWIFT as the underlying technology of international money transfers.

Having this purely commercial incentive is bad for publicity. Journalists would rather write about the cryptocurrency that is waging an ideological battle against central banks. That said, the commercial purpose gives Ripple focus and, most importantly, fewer enemies.

Ripple only needs to convince a few leading financial institutions that it is a better system than SWIFT, whereas Bitcoin has to convince vendors to accept its currency as payment, consumers to believe it is a store of value, and regulators that it is outside their purview.

It would take Steve Jobs-esque salesmanship to get those stakeholders in line, yet Bitcoin lacks a leader capable of articulating such forceful arguments. Actually, Bitcoin lacks a leader, period.

#3 Ripple Price Predictions for 2017

But let’s get down to the meaty stuff. Our Ripple price prediction for 2017 shows the currency could top $1.00 before the year is out, implying +400% upside from the current Ripple coin price.

It is rare to see such impressive returns on the stock market, so some investors might be skeptical. You shouldn’t be. These gains are modest by cryptocurrency standards. There are coins that rise by more in a month, a week, or even a day.

Here’s a look at how some other coins performed this week.

Top Performing Cryptocurrencies This Week
Name Symbol 7-Day Price Change
HOdlcoin HODL +497%
Slevin SLEVIN +382%
Minereum MINE +189%
Linx LINX +184%
Spectrecoin XSPEC +158%
In other words, investors could have doubled their money on any of these tokens during the last week.

Some believe these gains foreshadow a bubble in the cryptocurrency market. I take a slightly different view of things. Not that there aren’t hollow valuations for some of these tokens—there most certainly are. But that doesn’t mean the whole market is hollow.

Ripple has a genuine value proposition in its business plan. Heck, it has a business plan, which puts it far ahead of most cryptocurrency players. By poaching market share from SWIFT, Ripple is poised to create a solid foundation for its token price, leading to spectacular gains.

That said, our $1.00 XRP price forecast for 2017 does not assume this whole scenario will play out immediately. Taking down an age-old financial giant is a five-year job, at the very least.

What can happen this year, however, is that slices of the market will buy into this investment thesis for Ripple. Bit by bit, investors will cotton on to the idea that enterprise for blockchain is more efficient and infinitely more wise than trying to win over the masses.

#4 Analyst Take

This is a landmark year for blockchain technology. Future historians will look back on it with mixed feelings, I’m sure, because there are mounds of manure being shoveled by con men.

But there are diamonds in the rough too, so it’s important to keep your eyes peeled for opportunities like this.

Ripple XRP price is see-sawing its way to $1.00, our XRP price forecast, but it will likely need a breather thereafter. Our Ripple price prediction for 2018 shows growth slowing considerably as the market weeds out pretenders and snake oil salesmen, potentially reaching $2.00 by the end of that year. Beyond 2018, the possibilities are endless.