Ripple price prediction: Will Ripple RISE this year?
Cryptocurrencies have experienced a catastrophic twelve months, which saw bitcoin drag its fellow digital assets down in value. Ripple was among the cryptocurrencies which took a hit, falling to a low of £0.22 ($02.81) on December 15, 2018 according to CoinDesk.com data. Yet following an industry-wide rally, Ripple recently rebounded and is now worth £0.29 ($0.365).
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Industry insiders are bullish about Ripple’s prospects and believe XRP is not only capable reaching new peaks and but also hitting new highs in 2019.
RippleNet is specifically geared to address these problems around inefficiencies
This is why cryptocurrency experts believe Ripple represents a quality investment opportunity
Ripple is consistently adding new clients, many of whom are high profile, and several financial institutions have taken to using the Ripple protocol to transfer assets around the world.
Because of these factors, there is a growing consensus Ripple is potentially undervalued at the moment.
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Ripple price news: XRP’s value recently rebounded (Image: Getty)Ripple price news: Fintech institutions and banks have integrated the blockchain (Image: Getty)
And as Ripple adds clients to its infrastructure, Ripple will most likely grow its market cap and value significantly.
Some cryptocurrency experts now believe Ripple could triple its value and even hit highs of £2 to £4 by December.
A total of 13 financial institutions have started to use the blockchain, bringing the total number of banks in the ripple ecosystem to 200.
Fintech institutions and banks including Euro Exim Bank have integrated the blockchain for liquidity and instant settlement of payments that reportedly present faster, more transparent, and cheaper alternatives to traditional settlement systems.
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Brad Garlinghouse, the CEO of Ripple, said 100 financial institutions joined the RippleNet blockchain in 2018 and the network is witnessing a 350 percent increase in live payments.
And RippleNet is reportedly signing two to three clients each week, mostly composed of financial institutions requiring the settlement of cross-border payments.
Ashay Mervyn, JNFX head of emerging markets, is one of those singing the praises of RippleNet as a cost-effective alternative.
He said: “Payments between countries are beset with inefficiencies—inefficiencies around cost, inefficiencies around speed and inefficiencies around transparency.
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Ripple price news: Some cryptocurrency experts now believe ripple could triple in value (Image: Getty)Ripple price news: XRP recently rebounded following an industry-wide rally (Image: Getty)
“RippleNet is specifically geared to address these problems.
For our customers who range from the largest conglomerates in Africa, to individuals in villages in rural Nigeria, our decision to join RippleNet and utilise their payment solution—including XRP for on-demand liquidity—just makes sense.”
The Ripple CEO recently claimed the crypto’s critics believe ripple will not be utilised by banks in the foreseeable future.
However, he explained Ripple is seeing an increase in demand for RippleNet, especially for cross-border and international payments.
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He added: “Last year some notable critics said financial institutions would never use a digital asset in their payment flows.
“As I said then, if it offers their customers a better experience at a lower cost, they will – and they are.”
Ripple’s price recently corrected lower from the £0.3 ($0.37) high against the Dollar.
This decline was such that the price moved below the £0.28 ($0.36) support.
However, buyers appeared near the key £0.27 ($0.35) support, which in conjunction with the 100 hourly simple moving average, protected it from further losses.