Ripple Is XRP the future of modern banking

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Ripple: Is XRP the future of modern banking?

Ripple is a transaction protocol and network designed for currency exchange and remittance. The goal was to build an online remittance network to enable instant and nearly free global financial transactions of any size with no additional charge-backs. Ripple (XRP) is not a traditional cryptocurrency such as Litecoin. Ripple has been adopted by more than 100 global banks and online payment providers all over the world.

Price of ripple (XRP)

Ripple is definitely not a world-record breaking cryptocurrency. It’s one of the most stable currencies. Since the entry to the stock exchange, Ripple has been overshadowed by its more famous cryptocurrencies. Its value was thousandths of US dollars (in early 2020 around 0.006 USD). During the first half of 2020, the value began to soar. The growth ended at 0.4 USD/XRP which did not stay too long and the price fell to 50% of its previous value. After that, Ripple has gone through a rapid sky-rocketing rise to 3 usd.

To better understand the way ripple works carry on reading.


Ripple as such was launched in 2020 by a California-based company, Ripple Lab (originally known under the name Opencoin). The authors are A. Britto, D. Schwartz and R. Fugger. In parallel, the concept of Ripple became a model for numerous other payment systems. Ripple is a network with a publically available code, an open-source solution.

The network consisting of computers of individual users is decentralised, same as bitcoin network. There is no single server in place to control and register individual transactions. The network includes verifiers with PC software connected to the ripple network.

The verifiers share a ledger, used as a book for accounting, similarly to a blockchain ledger used for bitcoin. The ledger is updated in five-second intervals. Ripple is a digital currency, used in the Ripple network. It’s also known under the abbreviation XRP and you can use it as a means of exchange for other cryptocurrencies as well as for traditional, fiat currencies. Ripple is divisible to six decimal places.

Differences between the ripple and bitcoin networks

Ripple vs. bitcoin

Unlike Bitcoin, primarily a digital currency, ripple is a purely universal payment network. It allows the creation of tokens representing various traditional currencies (such as euro or dollar) or a handful of digital currencies (such as bitcoin or ethereum). In addition, ripple may offer access to less common options such as gold, air miles etc.

The information about all bitcoin transactions are monitored In the bitcoin network. However, ripple enables monitoring of any information. In addition, you can trace back transactions with other currencies. This is rather a complement to quick and cheap settlements. While bitcoin transactions are validated through mining, ripple uses a totally different approach. Therefore, ripple network is faster and more power-efficient. transactions are confirmed consensus-wise. Thanks to this the transaction takes a few seconds. (consensus is a process in which all entities in the network agree that a particular transaction has taken place).

What is the future of ripple?

As mentioned above, ripple has drawn attraction of several large banks and institutional banking systems such as CBW Bank a Cross River Bank using ripple already. Further candidates are Santander and UniCredit. Banks incorporate ripple protocol to enable their clients to profit from all benefits of ripple transactions. Ripple is able to interconnect various platforms and create automated scripts.

Despite its enormous growth, ripple is still more stable than bitcoin.

Where to buy ripple

The only way to acquire ripple is to purchase or exchange it for another currency. Ripple’s official website displays the current list of points of exchange. Although ripple cannot be used for standard payment transactions like bitcoin or litecoin, it is still a powerful cryptocurrency.

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During each ripple transaction a small part of XRP value is eternally destroyed. Each account in the network must have a certain balance. Each transaction is charged some minimum fee. YRP can be used in a situation which disables exchanging two different currencies. In the first step you exchange the main currency for ripple followed by step two, in which you exchange ripple for the desired currency. Ripple is also allowed for speculative trading with brokers.

Fundamental factors

Compared with other currencies, ripple has not the ambition to replace bitcoin. Ripple is not being heralded a revolutionary innovation. Unlike bitcoin users considering banks as evil calling for a total dismantling of the global financial system, ripple’s aspiration is to satisfy the needs of global financial institutions.

A strong proof of the cryptocurrency’s benefits is the seventy five banks from all over the world using ripple in their daily operations. If the network of ripple users continues to grow the price of ripple may grow accordingly. Ripple is surely not an anarchist’s dream currency (unlike bitcoin who has had such aspirations) yet it can offer decent evaluation.

Some experts go so far to predict brighter future to cryptocurrencies such as ethereum or ripple at the cost of the current leader, bitcoin. It is difficult to assess ripple’s actual growth potential. Nevertheless it is true than since its launch in 2020 the value has grown by 3 868%. The future will show how high the price of this third most popular cryptocurrency can climb.


More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

Ripple’s XRP Price Prediction 2020-2025 and 2030

XRP enters the top 3 cryptocurrencies with the most significant market capitalization and is second only to Bitcoin and Ethereum. It is not crypto in the usual sense, yet it has several features and nuances. Creators offer the world a bold and unusual solution in the financial world.

How can the news and events influence on the XRP price rate? Here are all the questions in our XRP price forecast for 2020-2025 and 2030.

XRP Coin Fundamental Value

The forerunner of the modern Ripple platform, the RipplePay system, appeared back in 2004. Canadian programmer Ryan Fugger managed to create a decentralized payment platform for a wide range of users. However, the project did not get much success, and Fugger decided to go even further. He changed the existing system of the bank and interbank payments. He wanted it to be decentralized, independent of intermediaries and third parties.

The updated system appeared in 2020 and was called Ripple. The company engaged in the development and maintenance of the platform was named Ripple Labs. Fugger, together with other developers, created a secure decentralized platform for payments between individuals and even legal entities (primarily banking institutions). Besides, the platform launched its cryptocurrency, called Ripple, with the XRP ticker.

There are some XRP exciting facts:

  • XRP cannot be mined. Cryptocurrency developers do not provide this option. They mined about 100 billion coins, left themselves 65% of the extracted assets. The remaining 35% were released to the market.
  • XRP does not use blockchain technology. Instead, the system runs on so-called gateways through which all transactions pass. Dozens of servers installed in the company’s offices in different countries of the world are responsible for the operation of these gateways.
  • The popularity of XRP cryptocurrency is determined by the number of partner banks that use the Ripple payment system. In 2020, the company signed a contract with more than 20 banks, and the price of XRP immediately increased by 200%.
  • The low cost of XPR today is defined by a vast number of coins issued. As the number of coins will decrease, the price of XRP will naturally increase.

Ripple’s XRP Market Data

Project name XRP
Asset Type Coin
Curr. Price $0.181291
Curr. Supply / Total Supply 43,935,664,307 XRP / 99,991,024,920 XRP
ROI since launch 2,986.41%
All-Time High / All-Time Low $3.84 / $0.002802
Official Website

XRP is significantly different from other cryptocurrencies, and its features are the following:

  • High speed of transactions (more elevated than in the Bitcoin network);
  • The ability to exchange any currency for any other currency or value (for example, gold, stocks or even precious metals) with a minimum commission;
  • High level of protection against spam and hacker attacks;
  • Impossibility of inflation. All coins are already mined. It is impossible to get new ones, and a hypothetical excess of coins is leveled out by their “burning” when paying a commission;
  • Transaction reversibility. Any transaction can be canceled or edited if an error was made.

XRP and Banks

Now for the international money transfers, people use the notorious SWIFT system. It does its job well, but it has two critical flaws. The first is transaction speed. Cross-border payments take 3-5 banking days. The second is high commission costs that arise due to several currency conversion operations for one transaction and processing of paper documents.

The Ripple network protocol, together with the xCurrent application, implement such and even more complex interbank transactions in seconds. Costs, along with commission fees, are reduced by 40-70%. That’s why XRP attracts credit organizations to cooperate.

The company has other similar products. xVia, for example, provides the ability to make payments between companies. The xRapid application is also made for quick and cheap transaction processing. Its distinctive feature is the use of XRP tokens (cryptocurrencies) as an intermediate link. The latter is necessary in those cases when illiquid assets participate in the exchange.

XRP Price History

The coin started on the market with an approximate price of $0.06. The increase in the price of cryptocurrency is mainly due to the conclusion of a partnership with all kinds of banks. Since 2020, the price of a coin begins to grow rapidly.

The first price peak was fixed in May 2020. The price rise may be associated with the offices opening in Singapore and Mumbai. One XRP was worth of $0.34.

The First Price Break

The second peak occurred in January 2020. XRP’s highest price ever was tested on January 4, 2020. It was $3.84. During 2020, the cost of the coin was slowly falling, and by September, the rate fell to 0.29.

The Second Price Break

In September 2020, the price rose to $0.56. For more than a year, the price has not shown tremendous breakthroughs and has been holding steady in the corridor from $0.5 to $0.2. Today the price of one XRP is equal to $0.291321 in USD.

If we compare the dynamics of the XRP rate with the news background, it is easy to notice that messages about joining a large bank or payment service to the Ripple network provoke short-term price hikes. So the public reacts to the success of the company. It is understandable. How not to be happy for the company, which, for example, has successfully launched a project with one of the largest banks in the world, Santander. This is just one of the hundreds of Ripple customers.

XRP Technical Analysis

Well, there is not any technical analysis expertise of XRP cryptocurrency. However, here is the aggregate rating for XRP from several traders & analysts on TradingView.

XRP Price Prediction for 2020-2025, 2030

There is still a strong relationship between the dynamics of the token exchange rate and the change in the price of bitcoin. It is growing and falling along with the entire cryptocurrency market. The reasons for the rise in price are similar to the general premises, due to which the cost of Bitcoin and the entire crypto increases or decreases.

The widespread use of XRP is out of the question. It uses xRapid technology, but it remains unclaimed. If it becomes widespread, or other options for the practical application of XRP appear, the token will have real value and objective prerequisites for a significant rise in price.

Nevertheless, a coin can serve as a convenient and cheap means of payment. The commission in the network is incomparably lower than that of Bitcoin, and the transaction speed is higher. It is also convenient enough to use for cheap cross-border transfers. Purchases and transfers with XRP are not as popular as with Bitcoin.

However, in the case of global acceptance of the token, it is better suited for the role of a payment instrument than Bitcoin. Alas, the company is not interested in such a development for the coin. So, let’s go into some XRP price predictions to estimate the future of XRP.

#1. WalletInvestor XRP Price Prediction for 2020-2025

According to the service, XRP is a bad, high-risk 1-year investment option. In one year, the price of the coin may drop to $0.04. As a long-term investment, XRP supposed to be good as WI offers a bullish prediction. The coin price will increase gradually. So, in 2020, the coin price will be $0.46. In 2021, $0.58. The average price in 2025 will be $2.32.

#2. TradingBeasts Price Forecast for 2020, 2021, and 2022

In 2020, the coin price will not change a lot, and the average one will be $0.36. In 2022, the rate may grow a little and reach $0.5 for one XRP.

#3. LongForecast XRP Price Prediction for 2020, 2022

In 2020, the average price will go down to $0.26. In 2022, XRP’s price will drop significantly to an average of $0.15.

#4. Quora Users Price Forecast

The funniest thing is the users’ price predictions. This is one of them.

If you are thinking about investing in the XRP project, then this is probably an excellent way to make a profit when it comes to long-term investment for several years.

Buy XRP at Changelly with USD, EURO or GBP

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Ripple’s XRP F.A.Q.

Will XRP Price Rise?

According to many analytical algorithms, the price of XRP coin will slightly go up.

Is Ripple (XRP) a Good Investment?

Medium-term prospects for Ripple, like Bitcoin, have an upside. In this regard, we can assume that it is worth investing in XRP.

Is Ripple (XRP) Dead?

Obviously not. Ripple still works mostly with big businesses like banks and financial organizations.

Will XRP Ever Go Up?

Everything is relative. The price of a coin depends on many factors. Basically, the rate of all cryptocurrencies depends on changes in the price of Bitcoin in the direct ratio.

Who Invented Ripple?

Ripple was co-founded by Chris Larsen and Jed McCaleb.

Can Ripple Reach 10 Dollars?

It is pretty possible. However, the whole crypto market needs to become very strong.

How Many XRP Coins Are There?

The maximum supply of XRP is 100,000,000,000 XRP. The circulating supply is 43,698,224,662 XRP.

Is Ripple Decentralized?

The Ripple network, although decentralized, is owned and operated by a private company Ripple. So the answer is no.

When Was XRP Created?

The Ripple system was launched in 2020.

Is XRP Going to Go Up?

It depends on the whole market situation and RippleLabs’ development.

Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. While price analysis is a useful tool, it should not be considered predictive for the future performance of any investment vehicle.

Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment. Website personnel and the author of this article may have holdings in the above-mentioned cryptocurrencies.

About Changelly

Changelly is a secure instant crypto exchange that has 150+ cryptocurrencies available to be swapped and bought at market-best rates. Operating since 2020, the platform and its mobile application attract over a million visitors monthly, who all enjoy quick and simple exchanges, low transparent fees, and 24/7 live support.

Is Ripple (XRP) the future of international money transfers?

Cryptocurrencies, if haven’t heard of them before are a form of digital currencies that were first developed back in 2008 and have gained much traction for international funds transfers. The first cryptocurrency was Bitcoin; it still currently has a majority of the market. Bitcoin, Ethereum, Bitcoin Cash, Cardano, and Ripple make up the current top 5 digital currencies by market share. Ripple recently took second in market share from Ethereum at the beginning of 2020 and has struck the imagination of many. Will Ripple be the answer to effective money transfers across borders?

What is Ripple? A simple infographic.

Ripple, symbol XRP, is an up-and-coming cryptocurrency with a unique touch – it has been designed for a certain purpose. It is meant to simplify the process and process associated fees with the transfer of funds between banks.

It has been receiving a lot of headlines yesterday due to several factors that include Google’s early investment in the Ripple company, the drastic increase in price over 2020, and the fact it is one of few Cryptocurrency startups which are completely transparent about the way they operate and what they desire to achieve. The Ripple protocol is already trusted by more than 75 banks across the globe who chose to experiment with its payment network, and most recently American Express announced a collaboration.

How does Ripple work?

The Ripple idea goes back as far as 2004 when Ryan Fugger first came up with the idea of a digital coin. Unlike most other digital coins (later to be known as Cryptocurrencies) it was built to serve a certain purpose in the banking system. The XRP has a built-in system named the “Ripple consensus” which approves transactions quicker and more effectively, making it apt for a specific type of transactions: bank to bank transfers, currency exchange and remittances. Some industry experts have suggested it may replace current protocols like SWIFT and IBAN through a standardized protocol that can be used globally.

What is the difference between Bitcoin and Ripple?

Both Bitcoin and Ripple are cryptocurrencies, but they differ from each other in various ways. For starters, Bitcoin needs to be mined by miners who are rewarded with bitcoin, while XRP does not need mining. There is a finite amount of Ripples in the world, and no new ones will be mined.

Another big difference between them is the designation. The idea behind bitcoin is in many ways more noble – a single anonymous coin which not owned by any government or central body. Completely non-regulated. While Ripple is a coin designed specifically for bank transactions – it is centralized, and 60% of its tokens are held by the company itself.

Software Engineer David Luwaga Seruyange, who specializes in bitcoin, says that the transfer costs are still a bit of an issue for Bitcoin, but Ripple has nailed it. Ripple has taken the digital currency concept and improved the platform to offer a better funds transfer experience than its competitor, Bitcoin. Bitcoin takes hours to settle a transaction, while Ripple takes seconds for a fraction of the cost.

What is the Ripple consensus process work?

In layman’s terms, the XRP is built in a manner that will enable multiple checks of each transaction made on it while using minimal resources. In other words, what Ripple creators wished to achieve is 0% error rate, minimal latency in transactions and minimum fees.

If we delve a bit diver into the mechanism we can discover that the system works in an iterative way. A transaction is checked by a certain amount of nodes in the network and when it reaches a 50% certainty it is pushed over to other nodes to recheck it, and so forth until the approval rating is sufficient.

Unless you a developer with very particular expertise in this field, it would be difficult to get an all-around understanding of the inner mechanism. This cryptocurrency has been developed for 13 years – there is a lot of depth to it.

Will Ripple change the future of money transfers?

Making future predictions on cryptocurrencies is a foolish act. It may take over the world by a storm or disappear to ashes at the same speed it has risen to the top. If cryptocurrency would take off – then it is reasonable to believe Ripple will have a significant role in such future.

Ripple is the only protocol which has been relatively adopted by banks and credit companies. It is designed to replace an aged protocol that has obvious faults in it. Solving a problem like remittances fees can change the world. New: we added a review for FlashFX the only company to boast using the ripple for money transfers.

Should I be using XRP to do my international money transfers?

Recommending XRP at these current times is problematic due to large price swings (like Bitcoin!). It’s true that most of these swings are positive, and that its value has grown x5 in the past 6 months, but it can still lose 10-20 per cent at any given day. So perhaps it would be wise to use XRP or even hold it if it’s money you feel free to risk.

Another situation where you would like to use XRP is in areas where it’s difficult to transfer your money abroad.

If your aim is to transfer money from point A to point B from two western countries with modern banks and availability for money transfer services, we would recommend them over XRP for now.

How to buy XRP

It’s not as easy as we would like it to be. The best way we found is sites like Coinbase, buy bitcoin and then exchange it to Ripple. The XRP to BTC exchange costs are very marginal and the transaction would still be very cheap (the cost of buying bitcoin on Coinbase is around 1.5% for U.S citizens, and the actual transaction is something like 0.001% of the value).

The XRP valuation

Since the value of the cryptocurrencies is decentralized the value can fluctuate according to the supply and demand. Another way to look at the value of the currency is whether the public has faith in it and they are willing to put their money where their mouth is, so to speak. If the public loses trust in cryptocurrencies it could have a huge impact on the digital monetary systems.

This type of volatility comes with digital currencies still being in their infancy. The volatility shows itself this last week when Coinbase denies adding Ripple to its services. The denial from Coinbase was followed by a 20% drop in Ripple’s value.

As digital currency becomes more widely accepted it will solidify itself as a real competitor for the monetary world. As long as you can’t walk into Starbucks and use your Ripple or Bitcoin to buy a venti Caramel Macchiato, their value will be limited, but if they pass all the regulatory hurdles, then their value will become less of speculation and more of a real denomination based on purchase power.

Update Jan 11 2020

Moneygram has just announced to launch a Beta for Ripple transfers. Huge news for the firm and for Moneygram!

Update Sept 20 2020

Ripple has announced a new feature and an upcoming launch of a full-suite product, resulting in a relative increase in prices.

Matt Di Vincere

Matt Di Vincere is a digital content specialist. His main expertise is in the comparison of products, and simplification of complex concept into digestible journalistic pieces. He serves as the main editor of for the past 3 years, and writes some of the content and the reviews, as well as provides guidance to other writers. He is a world affair and history fanatic, especially modern history.

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