Ripple Price - XRP Price Index & Live Chart
Ripple (XRP) is an open-source, decentralised, blockchain-based digital assets platform that facilitates borderless global payment transactions in any form. The platform was co-founded by Jed McCaleb, Chris Larsen and Arthur Britto in 2012. RippleNet is the network of financial institutions and payment providers that utilises the platform to send money globally in an effortless manner. The platform charges a negligible commission fee of 0.00001 XRP. XRP is the native currency for the platform. A unique aspect of the coin is that they have all been pre-mined and Ripple owns more than half the share of available coins.
Key Ripple Price Metrics
Ripple Price Graph & Exchange Rate
Ripple (XRP) Price History
Ripple's (XRP) is considered the third-largest cryptocurrency in terms of market capitalisation, the current value is around $11 billion. The coin has been available on the market since February 2013 and its initial trading price was $0.01. The coin price remained immovable for the first few years, showing the first spurt of growth in 2017 when the cryptocurrency market was flourishing. In May 2017, the price soared to around $0.36 per coin which would allow early investors to gain profits of around 3500%. The price eventually stabilised around the $0.20 mark towards the end of 2017.
In January 2018, XRP benefitted from the market boom and achieved an all-time high of $3.84. Ripple as a cryptocurrency platform was making great headway into establishing strategic partnerships with several leading global money transfer companies and financial institutions like MoneyGram and Santander Bank. The platform continued to grab headlines in 2018, through its ever-growing list of partners, promotional campaigns and funding projects. However, the price of XRP, like most other coins, did drop after the initial spurt, closing at around $0.35 by the end of 2018.
XRP showed a steady rise in the first half of 2019 due to the expansion of the platform and continuous collaborations with new partners. However, the second half of 2018 did not prove to be as lucrative as expected. This could be because Ripple decided to reduce the number of programmatic sales in the third quarter of 2019 which caused a decline in the company’s overall sales. The coronavirus pandemic brought the financial markets down bringing the XRP prices down to about $0.14. However, XRP surged again in 2021, peaking above $1.80 in April.
As such, the Ripple platform is likely to be an integral part of all future financial institutions and payment systems, and hence, has massive potential for growth and widespread adoption.
3 Key Instances for the Evolution of Ripple Price
Meteoric Price Rise
XRP’s price rose by more than 3000% during the early months of 2018. Ripple had gained a lot of significance in the market during 2017 after announcing partnerships with more than 100 financial institutions including big names like MoneyGram, Santander and American Express. At the end of November 2017, TechCrunch founder Mike Arrington announced the company’s intention to launch a $100 million crypto fund with XRP as the monetary unit.
Bulk Sale of XRP
Jed McCaleb sold $75 million worth of XRP coins on the market during the early months of 2020. He owns 9 billion XRP coins and has an arrangement with Ripple that limits the number of coins he can sell which ends in 2020. Equally controversial is the lawsuit raised against the CEO of Ripple, Brad Garlinghouse who has been accused of liquidating around $67 million worth of XRP tokens. The possibility of an onslaught of XRP coins on the market would lead to a significant decline in value.
Concerns over the US Regulation
Ripple has been facing issues with the U.S regulatory authorities as it refuses to deem XRP as a security, leaving the status of XRP undecided. XRP being labelled as security could place the coin under the umbrella for stricter regulations. The CEO of Ripple, Brad Garlinghouse, has been considering moving its headquarters out of the US to work around this issue.
Key News for Ripple Price
In November 2020, Ripple bought $46 million worth of XRP with a view to support “healthy markets”. The company could potentially invest in more XRP to support its new product – the Line of Credit Beta version, which allows for customers to buy XRP coins on credit.
In response to the recent criticism raised about XRP coins being flooded into the market, an advanced crypto analytic tracker revealed that 800 million XRP has been locked up in an escrow. This ensures a controlled release of XRP into the market thereby reassuring the investors.
Ripple has also opened a new regional headquarters in Dubai which has its own regulatory structure. Ripple is also considering relocating its headquarters from the US due to the regulatory restrictions being placed upon its operations. With all these strategic decisions aligning perfectly, XRP could potentially make a strong investment in 2022.
Ripple Price Technical Analysis: How to Identify Good Entry/Exit Points when Trading
It is important that you select the correct entry and exit points before you invest in any cryptocurrency. The internet provides you with all the required tools and techniques to analyse and decide on the correct strategy. You can identify trading signals by making use of technical analysis tools. Charts and graphs are great visual representations of trends and patterns. A little bit of initial hard work can help you make more informed investment decisions. Once you have done enough analysis, invest only if you have a good entry point available to you. Patience is important and choosing the right time to invest in XRP is key to earning a good ROI. The same applies to a good exit strategy. For example, if Ripple is on a positive trending line or is showing a bullish pattern, you can choose to exit at a point where you will reap considerable benefits even if the price continues to rise.
Have a Clear Goal
Once you have decided to invest in Ripple, one of the first steps would be determining the end goals for your investment. A clear vision and strategy allow you to base your decisions on logic rather than emotion. Patience and knowledge of the market will further boost the decision-making process. Objective thinking with the end goal in mind could help you to avoid panic-induced trading. Keep yourself abreast of the crypto market trends and news and make the right decisions that will allow you to achieve your investment objectives.
Make Use of Analysis Tools
A broad range of cryptocurrency-based financial analysis tools is available online. There are several reliable websites providing live data of the current trends as well as historical price movements. An effective visual tool that is available on most websites is Candlesticks patterns. They are charts that depict the price movements, a downward price movement indicated by a red candle while upward movement indicated by the colour green.
Information on moving averages is often used to predict the value of cryptocurrency coins. The “moving average convergence divergence” technique (MACD) is a popular one. When the MACD is high, it means XRP is overvalued and if it is low then it is undervalued. You can also make use of indicators like Fibonacci and pivot points for your analysis. Fibonacci indicators allow traders to identify possible support and resistance levels. Using a combination of indicators could be an effective technique in the trading analysis.
Fundamental and Sentimental Analysis
A combination of fundamental and sentimental analysis can help with investment strategies. Mainstream news and social media have a significant impact on the cryptocurrency market.
It is often noticed that any news about the Ripple platform impacts the value of the coin. Use of data analytics tools to understand the impact of social media and the public reaction to the price fluctuations of such a volatile market could have tremendous value in the long run.
Fundamental analysis, on the other hand, makes use of key metrics associated with cryptocurrency to provide trading insights. Metrics like transaction count, on-chain metrics and transaction value can be used for analysing the value of a coin. Ripple has developed partnerships with leading global financial institutions, and this could be an important factor that adds considerable value to XRP.
Frequently Asked Questions
No, not really. The Ripple network is owned by Ripple Labs. As such, a centralised influence is in charge of governing the direction of the network.
This is a very difficult question to answer. There are many factors that influence the price of a cryptocurrency. One promising aspect is how XRP is targeted to help large financial institutions and banking systems. This means that the use case for Ripple may be valuable to these entities for many years to come.
There are many online platforms that provide live pricing on XRP. These allow you to monitor the real-time price movements of the coin. If your investment is already held on an exchange, such as Binance, you can use the charting and analysis tools available to closely monitor performance.