Bold predictions on cryptocurrency prices can always be taken with a huge pinch of salt. If it were that easy to predict the price of Bitcoin, or Ripple in this case, we would all be driving Lambos. One analyst, however, is confident that the price of Ripple’s XRP will reach $16 by the end of the year.
According to reports, Samson Williams, CSO of Ireland-based fintech firm SeedUps, predicts XRP will go to $16 by December. He made this claim amongst a panel of five other crypto analysts on Finder’s cryptocurrency predictions for 2018.
The average price of all predictions for XRP was a 540% gain to just over $6. However, Williams, who is also a partner of blockchain and crypto mining consultancy Axes and Eggs, thinks it could go a lot further:
Though not a cryptocurrency at all, it is the child of banks. So it’ll get the natural bump from [the] 2018 Recession.
Other panelists had their own views on why Ripple will do well this year. Technologist Joseph Raczynski thinks that a Coinbase listing could well send XRP up to $5:
In my opinion, this could take off, if Coinbase does in fact list it. My guess is that they will in the next few months, if they do – the sky will be the limit and I think this will boost the entire crypto market. If they don’t list it, I see it staying in the range of $.80 – $1.50.
News of Ripple partnerships is emerging on an almost weekly basis now, which can only be good for the company and the cryptocurrency. The biggest in recent weeks was the testing of xRapid, which uses XRP, by one of the world’s largest payments companies, Western Union.
Current Price Situation
Ripple has been on the move for a while now, however, it only really saw major action during the big upswing when it shot from $0.25 to $3.8 in just three weeks. Since then it has been largely in decline falling back to below a dollar where it currently trades. Looking at the long term chart paints a brighter picture, XRP gained an astronomical 14,000% since this time last year rising from $0.0065 in March 2017 to $0.92 today, outperforming Bitcoin several times over.
With partners being added on a weekly basis it is one of the few crypto companies with a viable, real world, operating product and over a hundred financial institutions and firms currently using it. Love it or hate it, if the predictions are even close, Ripple has a long way to go and the direction is up.
[Disclaimer: the author of this article is a holder of XRP]
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Images courtesy of Finder, Shutterstock