Will Ripple Reach $100 or More in the Next Year?
As with every cryptocurrency, it is very hard to predict the fluctuation in prices. Nevertheless, Ripple kept growing through five major leaps where its price multiplied over a short period of time. Although Ripple has its inherent value, some other conditions benefited its development and growth as well. Ripple happened at a good time and the price of Ripple rose with alternative cryptocurrencies in general. Since Bitcoin broke the 10k barrier, a great number of new users turned to alternative cryptocurrencies. That led to the rise in the global cryptocurrency market cap. Newbies mostly invested in Bitcoin, Ethereum and Litecoin, but there was space left for other cryptocurrencies, especially for Ripple. Simply, value flooded the market and caused the general rise in prices.
Further, Ripple created a buzz through numerous commercially beneficial partnerships. Media hype led to the rise of adoption rates, which subsequently caused higher demand and a price increase. The Ripple peaked in Asia through partnerships in China, Japan, Taiwan and several other countries. In the last few years, Asia became a key player in the acceptance of the cryptocurrencies. Ripple used that opportunity well, which gave them the strong foundation on which to build.
An essential for every well-established cryptocurrency is the functionality and the service they provide to their users. The Ripple covered that part well, which gives them an opportunity to grow a lot more. The Ripple positioned themselves in the market well, based on the fact that it is multi-functional and very useful service for financial institutions. Yes, the Ripple will grow, probably over $100, even only based on the day-traders because of the steady and finite supply. When it comes to acceptance toward fiat currencies, it is difficult to determine whether there is any real use in it for the concept of Ripple.
Once banks start actually adopting Ripple for real world use (international wire transfers) won’t they inherently be against this type of increase in value? I thought that was the intent of Ripple keeping 70% of the coins out of circulation, so there is no rapid increases or decreases in value once it is in use. Seems like Ripple itself may be against this type of value growth which may stifle it.