XRP is a cryptocurrency that was created in 2012. It is the native asset used on the XRP ledger for payments and remittances. The Ripple protocol also provides for digital asset exchanges.
The Ripple payments network targets banks and other financial institutions and is built to enable instant and near-zero fee cross-border payments. Anyone can send, receive, and hold XRP tokens across the globe. The maximum supply for XRP is 100 billion tokens, with current circulating supply at around 43.6 billion. XRP is currently the third-largest cryptocurrency with a market cap of $10.4 billion.
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XRP is available to buy through several major cryptocurrency exchanges. You can purchase XRP from any of the listed platforms via credit card, bank transfer or crypto-to-crypto. When looking to buy Ripple (XRP), it is imperative to use reputable and regulated broker or exchange to help protect your funds.
India’s Prime Minister Narendra Modi went on TV on November 8, 2016, and declared two of the country’s cash bills worthless. The announcement scraped the 500 and 1000 rupee notes from use- what was then 86% of notes in cash money used in India.
Modi wanted to fight corruption and tax evasion that were thriving thanks to the ‘black market’. But panic followed and the cash shortage hit the economy, causing businesses to suffer. Of the 1.3 billion Indians facing the cash crisis, many looked at digital payments, including cryptocurrencies.
But in 2017, India’s central bank banned all banks from dealing with or offering services to cryptocurrency exchanges. That same April, the Japanese government passed a law recognizing Bitcoin as legal tender. It galvanized the crypto community and in December, cryptocurrency prices rallied to hit all-time high levels. XRP price touched its highest level of $3.84 shortly after, on January 4, 2018.
The price of XRP today (Jan 30th, 2020) is $0.24, nicely priced for anyone looking to invest in this cryptocurrency. With adoption and real-world use increasing, Ripple’s future price looks assured, but how does XRP compare with the GBP, USD, and Bitcoin?
The British Pound (GBP) is posting its strongest showing against the US Dollar (USD) since the August-October 2019 slump.
From the GBP price history, the 52-week high is 1.3516 and the 52-week low is 1.1885. Today the British Pound has touched a low of 1.2977 and high of 1.3026. The Pound has been strong throughout January. However, it remains to be seen how it performs given the spread of coronavirus, news concerning the Bank of England and Brexit.
Jan 30th, 2020: Today’s Ripple (XRP) price in GBP is £0.192784, which is about 1% down over the past 24 hours. According to Ripple live price charts, the XRP coin has touched a high of £0.195124 and a low of £0.188699 against the Pound.
Ripple price analysis and technical indicators show that XRP is still bullish in the short-term. The coin’s recent momentum will carry it back to £0.20, meaning that the current price reversal against GBP is not a worrying signal.
The U.S Dollar is the world’s most used currency. Ripple (XRP) on the other hand is a top 10 cryptocurrency that banks can use to make cross-border payments much faster than when they use USD. How does Ripple perform against the U.S Dollar?
Jan 30th, 2020: Ripple XRP price today is $0.235, shedding 1% over the past 24 hours. The XRP price history indicates XRP/USD has made new highs 6 times and new lows 3 times this month. Looking at the charts, the Ripple price has moved -6% since its last high price this period. On the upside, it has surged +28% since its previous low over the last 30 days.
Although Ripple has been bearish for much of the past year, its price is forecast to rise in 2020 and beyond. If we compare XRP/USD, Ripple price was $0.33 in July 2019. But going by today’s value, it’s declined by -25%. Nonetheless, XRP price has picked up against USD in 2020, rising over 20% YTD.
Bitcoin (BTC), released in 2009, is the largest cryptocurrency in the crypto market. Ripple (XRP) is currently the third-largest by market capitalization.
Both Bitcoin (BTC) and XRP are tradable assets. However, they have had contrasting fortunes in the market, with Bitcoin attracting more attention due to its stellar performance. Bitcoin in 2014 was worth about $150 but today (Jan 30th, 2020) it’s value is around $9,300. BTC is the top crypto and hit a high of almost $20k in December 2017.
The XRP price charts show XRP was worth $$0.0028 on July 7, 2014, but hit an all-time high of $3.84 in January 2018. Today’s value of $0.235786 is equivalent to 0.00002525 BTC, with the price of XRP against Bitcoin down by -1.27%. At $9,350 today, the price of Bitcoin is up 10% over the past week. Ripple’s current price level is also in the green, but just 3% over the past 7days.
2020 price predictions say that Bitcoin is likely to rally beyond $20k; XRP price predictions, on the other hand, suggest increased adoption of Ripple products and its native asset could push prices closer to $1.
Ripple wants XRP to help move value similar to how today’s internet moves information. It’s partnered with hundreds of banks and major financial institutions across the globe, with one potential result being the increased adoption of the XRP token. When that happens, Ripple future prices could explode to reach new all-time highs. Today, Ripple’s technology is already making SWIFT look relic.
In the market, Ripple (XRP) has been traded on cryptocurrency exchanges since August 4, 2013. Over the years, several major exchanges and platforms have listed XRP for trading. Will Ripple (XRP) price rally in 2020 and beyond? The answer is likely, Yes!
How will the Ripple (XRP) price move in the future? Ripple price history charts and current price analysis show that the coin’s price is extremely volatile. However, that is down to wild swings occasioned by negative Ripple news, regulatory concerns and global market trends.
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