Will Ripple (XRP) survive?

Ripple (XRP) has been one of the most controversial cryptocurrencies recently, attracting passionate supporters and fierce critics. Some people regard it as a revolutionary solution for cross-border payments and a game-changer for the financial industry, while others claim it as a centralized and overhyped project that violates the principles of decentralization and privacy. 

With such divergent opinions, a logical question arises: “Will Ripple survive?” To answer this question, we need to examine several key factors that could influence Ripple’s future success or failure and have a look at Ripple price prediction.

What could drive Ripple’s success?

  1. Mass Adoption

With its proprietary technology RippleNet, the project’s primary value proposition is its capacity to enable quick, inexpensive, and secure cross-border payments. However, the creators had to persuade additional banks, payment processors, and other financial institutions to join their network and deploy XRP as a bridge in order to gain broad acceptance. Although they have partnered with and acquired support of some well-known companies recently (for instance, MoneyGram and Tranglo), Ripple still faces fierce competition from alternative blockchain-based payment options and conventional banking institutions. In addition, legal disputes with the SEC on whether XRP counts as a security or a currency may have an effect on viability and regulatory compliance.

2. Advanced Technology

Unlike Bitcoin’s proof-of-work or Ethereum’s proof-of-stake, Ripple’s consensus mechanism (the XRP Ledger) uses a distinct methodology. Compared to other blockchains, it employs a variation of the Byzantine fault tolerance (BFT) protocol, which enables quicker and more scalable transactions. The dependence of Ripple on a small number of validators, chosen by Ripple itself and potentially subject to centralization and censorship, was harshly criticized by certain experts. Additionally, Ripple’s usage of XRP as a cross-border payment liquidity instrument rather than a platform for smart contracts or a store of value restricts its ability to innovate and diversify.

3. Community

A passionate and devoted group of people backs Ripple Labs and shares its belief in a more inclusive and integrated global economy. Yet, there are some disagreements within this community over a number of topics, including whether XRP should be considered a speculative asset or a utility token, the governance and openness of project management, and the decentralization and interoperability of RippleNet. While some detractors have lauded Ripple’s charitable endeavours and social impact programmes, others have accused it of being a “banker’s coin” or a “premined scam” that solely benefits a few insiders.

Ripple price history & prediction

Ripple’s pricing has had a number of ups and downs. Its value significantly increased in 2017, going from barely $0.006 in January to a record-breaking $3.84 in December. The price increase was mostly a result of major financial institutions using Ripple’s technology more often.

But since then, Ripple’s price has drastically dropped. The cost of Ripple is now approximately $0.75 as of August 2021. Regulatory problems and the continuing legal dispute between Ripple Labs and SEC are only two of the reasons for this fall. Despite this, the banking sector continues to use Ripple’s technology. The company has agreements with several banks and financial institutions around the globe, and the underlying technology serves to speed up transactions and make cross-border payments possible.

What to expect from Ripple in near future?

  1. According to TradingBeasts, the XRP rate may show a positive trend in 2023, with a medium forecasted value of $1.01 by December. While the price may fluctuate throughout 2023, but this uptrend is still a positive sign for the community.
  2. Wallet Investor also forecasts an XRP price projection for 2023, with the cost said to get above $1.7 by December, with a maximum threshold of $2. However, the volatility of the market is expected to be high, with the minimum threshold falling to $0.75.
  3. Crypto Ground forecasts a bullish direction for XRP in 2023, with the cost not expected to suffer significant losses. Closer to the end of 2023, the cost is expected to exceed $1.40.
  4. Coin Price Forecast projects XRP growth in 2023, with the cost reaching $1.11 by the Q3-Q4. The uprise will be more significant in the second half of the year, with XRP potentially reaching $1.36 by December 2023.
  5. Long Forecast views 2023 as unsuccessful for XRP, with the price projected to drop to the lows seen in March 2021 throughout the year. The highest value of $0.60 may only be witnessed in December.

As for Ripple’s price predictions for 2025, several analytical websites have weighed in on the matter:

  1. According to DigitalCoinPrice, Ripple is expected to reach an average price of $0.94 by 2025, with a potential high of $1.20 and low of $0.62.
  2. WalletInvestor, on the other hand, is a bit more bearish in its predictions, forecasting an average price of $0.20 by 2025.
  3. TradingBeasts falls somewhere in between, with a projected average price of $0.36 by 2025.

Wrapping up

It’s difficult to say with absolute certainty whether Ripple will endure and prosper over the long run. Anyway, it is evident that the project has already met certain important benchmarks and surmounted some serious obstacles. For instance, since its launch in 2012, the network has handled over 2 billion transactions and saved its users millions of dollars. Ripple has survived and adapted to various market cycles and regulatory environments, showing resilience and flexibility. There is a team of talented and experienced developers, executives, and advisors behind the network: they are working tight-lipped on innovating and improving products and services.

Whether you believe in Ripple’s potential or not, the cryptocurrency and its ecosystem are nothing to sneeze at. Ripple can potentially offer many implications for the wider blockchain industry and the future of finance. So, will Ripple survive? Only time will tell.