Ripple is a top cryptocurrency platform that brings many advantages to the modern financial system. The Ripple platform allows for lightning-fast transactions worldwide, with low fees and no middlemen. This is a great advantage for a financial system that is gradually becoming outdated.
Ripple’s developers want to offer banks and other financial institutions a new, advanced and convenient system to replace older systems such as SWIFT.
Ripple’s native token is XRP, and the platform runs on its own blockchain, with participants transacting through smart contracts. This is the most reliable and secure way to move funds between parties. Decentralization is the essence of Ripple.
The Ripple price is $0,38 (late September 2022). Let’s take a look at what influences the Ripple crypto price.
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Factors To Impact XRP Ripple
The current Ripple crypto price, like the market as a whole, shows a downward trend; the highest XRP price was set at $3 in January 2018. Considering the market capitalization of XRP, which is impressively high at $19,3 billion, this means that people trust Ripple and expect its development and wide acceptance.
The factors influencing the Ripple price:
- First of all, the technology underlying the Ripple platform. The most important factor is the mission of the project and the benefits it can bring to the world. The use cases for Ripple are numerous, and many large companies are already using Ripple technology to conduct high-speed transactions around the world. These financial transactions are not carried out in XRP – the tokens act as intermediaries to convert other currencies.
- Those who buy XRP and hold the tokens for the long term also support the price level of Ripple. The amount of XRP tokens held by investors also maintains the Ripple price.
- South Korea. The country that has officially put this crypto asset into daily use, and as such, the government influences the price of XRP. This means that the country can influence regulations on the use of tokens, which greatly affects prices. For example, anti-money laundering regulations mean that all XRP holders must comply with the rules, or they will be banned.
Price Forecast for XRP Ripple
Ripple technology is used worldwide, and many businesses already use this fast and cheap way of transferring money. The Ripple platform continues to evolve, and developers are not standing still, so the XRP token has the potential to grow in the future. Crypto analysts had drawn a cryptocurrency Ripple XRP price forecast, resulting in the Ripple price ranging between $1,47 and $1,76 in 2025.
