Ripple’s price was in a sideways movement for most of 2017. Even with such an indecisive Ripple price action, our research team spotted bullish indicators leading us to maintain a positive stance on Ripple price for 2018. This article will go over the fundamental reasons as well as Ripple’s chart set up to illustrate our point. In sum, ou Ripple price rediction is very sharp rise leading the Ripple price many multiples higher in a short period of time.
Ripple Price: A Fundamental Perspective
We believe the following 3 aspects have a positive impact on Ripple’s intrinsic value therefore its future price:
- An expanding client list including more than 100 financial institutions and Central banks with pilots with central banks such as the ones in England, the US and Canada.
- A solid product built on a highly disruptive technology. Ripple is different than all the other altcoins because it is centralized. Some investors and enthusiasts consider this a weakness. We take the more objective stance of seeing it as a characteristic that differentiates Ripple from other altcoins and is very appealing to financial institutions where there is a need for a certain level of centralization.
- Real revenue.
Some examples of the Ripple network used by major financial institutions and companies:
- Axis Bank and Standard Chartered are using RippleNet, Ripple’s Plateform to open a $15 billion trade corridor offering fast and low cost payments for buyers and suppliers between India and Singapore.
- Axis Bank also partnered with RakBank to offer cross-border payments between UAE and India. Transfers between these 2 countries are said to be in the $12.6 billion annually.
- Ripple and the Gates foundation collaboration leading to the creation of Mojaloop Plateform to bank the unbanked and connect mobile money providers.
Ripple Price Analysis
When we look at Ripple’s price chart, we notice the price is in a pressure cooker set up because of the following :
- XRP Price spent the 2nd half of 2017 in a sideways and long trading range between 0.15 and 0.30. This resulted in Ripple building a strong support in the 0.15 level but also a huge resistance at the 0.30 area. We annotated this area in purple on the chart below.
- When considered relative to other altcoins, Ripple has not gone up in a significant fashion since May 2017, whereas other altcoins did. This resulted in profit taking as soon as there is a small spike and the most notable outcome is heavy selling among Ripple holders in general. Once all selling is exhausted it sets the stage for a very strong bullish move.
Most Ripple holders think: “Why hold Ripple or XRP when other altcoins seem to be better and their prices rise faster?”
That is an illusion of course as Ripple has somehow the strongest fundamentals of all, and is likely the only real company with a real product, real customers and real revenue as mentioned above.
Our Ripple Price Prediction
Our Investinghaven price prediction for Ripple is that once all weak hands have sold (near 0.30) we will witness a strong XRP performance. With the next attempt to break higher, there will be critical mass in the number of buyers, and Ripple price will double and possibly triple in a matter of weeks in 2018.
In fact, in the case of Ripple, the key question is WHEN the major breakout will happen and not IF it will happen.
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