XRP price has done well since its founding in 2013. It has jumped by almost 40,000% since then, while its market cap has soared to over $130 billion. This makes it bigger than some well-known companies like Micron, Brookfield Asset Management, Lam Research, Intel, and UPS. This article provides a Ripple prediction and highlights what to expect by 2030.
Ripple price to depend on Bitcoin’s performance
The XRP price forecast for 2030 will depend on the state of cryptocurrencies at that time and how Ripple Labs executes its plans.
History shows that cryptocurrencies, especially Bitcoin, rise over time. This rebound is never linear, and it normally has a few bumps along the way. For example, after soaring to a record high of $109,300 earlier this year, Bitcoin then fell to $74,000 in early January.
Analysts are highly bullish on the Bitcoin price. Standard Chartered expects that the coin will jump to $200,000 by the end of the year. Ark Invest predicts it will rise to $2.4 million by 2030, a move that would bring its diluted market capitalization to over $50 trillion.
Michael Saylor, on the other hand, sees Bitcoin rising to over $45 million in the long term. This explains why his company has continued to accumulate Bitcoins in the past few years.
If these forecasts are correct, then it makes sense to assume that XRP price will be much higher by 2030.
Ripple Labs impact on payments
The other key catalyst that will impact the XRP price action by 2030 will be how Ripple Lab performs in the payments industry.
Ripple Labs aims to become the world’s largest payment network. Precisely, it aims to provide banks and other sector players with a viable alternative to SWIFT, a network that facilitates the movement of trillions of dollars annually.
Ripple’s path to global domination was hindered by the Securities and Exchange Commission (SEC) lawsuit, which accused it of selling unregistered securities. The immediate impact of that lawsuit was that some of its then partners dropped off. It also became difficult for the company to do attract major US partnerships.
Now, with the case done, Ripple hopes to enlist most American companies to its network. Its pitch is that its payment system is faster and cost-friendly. And for banks concerned about using XRP, the RippleNet network does not require the use of the coin.
Furthermore, Ripple’s stablecoin (XRP) will likely have a larger market share in the industry by that time. The stablecoin now has a market cap of almost $300 million a few months after launch. By 2030, this valuation will be over $10 billion if the trend continues.
XRP price technical analysis
The chart above shows that the XRP price went parabolic in November last year. It surged and retested the important resistance level at $3.30. This was a key level because it coincided with the previous all-time high.
Measuring the distance between that level and its lowest point in 2020 can help us predict the long-term target for the coin. This measurement shows that the depth is about 97%. Measuring the same distance from the all-time high gives the target at $6.50, up by over 185% from the current level.
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