Ripple: daily outlook

Ripple is the most technologically advanced cryptocurrency and one of the most ambitious companies in Silicon Valley. The article “Chart of XRP/USD” will tell you how much the coin costs.

Meanwhile, we will give you an account of factors shaping the Ripple price and tell you about where to find daily outlooks and the potential of the token

Content

• Prices
• Factors
• Daily outlook
• Bullish points
• Final thoughts

Price changes

By investing in shares, a person gets a stake in a company and dividends. What do Ripple buyers receive?

We made this comparison for a reason because Ripple is not only a cryptocurrency but also a tech firm with a unique payment system and XRP as an instrument in some projects.

By investing in Ripple, you will neither get a stake in Ripple Labs nor dividends. The only way to earn here is to make profitable Ripple trades.

The table shows how the Ripple price has changed over time and how much money traders have spent to buy the token

Ripple price (as of January 1 of each year)

Since 2014, XRP has soared by 58 times against the US dollar. This is how many times the capital invested in Ripple eight years ago would have increased by now.

However, this token is also highly volatile. Quotes change multiple times a day along with potential profits and losses.

For example, Ripple gained about 145% for four days in January 2021. Meanwhile, the price dropped by 10% in a couple of hours on November 15, 2018.

Drivers of XRP prices

Like any asset, Ripple has its own factors driving its price.

Clearly, these are global macro indicators, including GDP, inflation, etc.

Still, there are factors that shape Ripple’s price in particular.

The health of the crypto market: All coins without exception move in patterns. It is impossible that one asset soars and the other ones tumble in price. The coin’s high-profile nature: the more a digital asset is on the news, the higher its price gets. Unlike other cryptocurrencies, Ripple has a marketing team. Technological factor (controversial): Ripple’s distinctive feature from BTC and other coins is that it is also a payment system. Ripple is sometimes called SWIFT’s main rival because its cross-border transactions are cheaper and faster to conduct. The development of technology and client base makes the token an attractive investment instrument. Meanwhile, a higher demand boosts prices. Nevertheless, the company and its cryptocurrency are also two different things, meaning they do not influence each other. In other words, Ripple Labs can operate successfully without XRP. Indeed, this token is involved in a single project. Therefore, the expansion of technology will unlikely affect the Ripple price. Other drivers of XRP prices:

• Institutional demand
• News about the crypto market
• State regulators’ policy
• The actions of the company that owns more than 60% of XRP coins.

Ripple: daily outlook

There is simply no 100% way to predict the future of cryptocurrencies because the crypto market is unpredictable and volatile.

With this in mind, how can we foresee Ripple’s price for a day? There are two possible options, and they should be used together.

Reading analysis reviews is the first option. Analysts are professionals. They have the necessary analytical skills and can make short-term forecasts for XRP.

For example, Ripple traded at $0.82 per coin in the early session on February 11. According to market consensus, the price could grow to $0.87 per coin by the close of the day.

Analysts made this forecast by analyzing XRP/USD, using Oscillators, pivot points, and the moving averages.

Making personal forecasts for XRP/USD is the second option.

In this case, traders study the price chart where there are support and resistance levels and trends are determined with the help of indicators.

Traders should also go through all the factors affecting the price as they may help predict future movements.

Why is the daily outlook for Ripple so important? Given that quotes can rise and fall in a blink of an eye, those Ripple holders who know the forecast and open positions on time may avoid losses. Meanwhile, those who just consider investing in XRP can find the perfect entry points by using forecasts.

What’s in store for XRP?

Experts are convinced that Ripple has potential. Some crypto enthusiasts believe the token is able to become Bitcoin’s main rival and even replace the flagship cryptocurrency.

An optimistic outlook shows that XRP may rise to $2.3 per coin in 2022. Meanwhile, a cautious outlook says the price may increase to $1.36.

Average forecast for Ripple in 2022 (on the first day of every month, $)

What are the drivers of quotes? Experts name a few.

Both analysts and the firm’s representatives say Ripple will be bullish owing to its functionality. Unlike most cryptocurrencies, the token is linked to a fairly popular payment system.

In addition, the company plans to expand the options for using the token.

Ripple’s limited supply of 100 billion XRP coins is seen as a hedge against inflation, which makes the token an attractive investment instrument.

In fact, analysts predict a great future for the entire crypto market, including Ripple.

Final thoughts

The Ripple ecosystem is developing with its token heading towards new highs. Its daily trading volumes hover around $4 billion, with XRP holding steady in the top ten cryptocurrencies by market capitalization.

Ripple links other virtual currencies to fiat, having gained recognition as a system with low commissions and instant transactions. Cooperation with over a hundred banks and financial institutions makes Ripple a reliable token.

If these arguments sound persuasive, and you now consider XRP a nice investment options, you should try investing via IFXBIT, a user-friendly and reliable exchange.

More on the topic: “Where to buy Ripple” “How to create a free Ripple wallet on your PC” “How to buy Ripple on exchanges”