The cryptocurrency market is incredibly volatile. Digital asset prices and emission do not depend on governmental decisions or banks. There are some other internal and external processes affecting crypto prices:
- emission of coins;
- demand and supply;
- competition on the crypto market;
- situation with the global economy
- news background;
- etc.
Ripple XRP is one of the most traded digital assets. We would like to talk about this asset today and figure out what cryptocurrency Ripple XRP price depends on.
Ripple Essence
Ripple is a network providing cross-border money transfer services, working with fiat and crypto assets. XRP is the native Ripple network token that plays a key role in remittances on the platform. The token provides speedy currency transfers worldwide and low fees. Ripple can proceed with several transactions simultaneously. The Ripple price today is $0.45 (October 24, 2022).
What affects the price of this asset? First of all, all XRP tokens were issued on the day of the Ripple launch, and their total number is 1 billion. Some part of the tokens are kept by large crypto investors who hold assets in the long term with the plan to make a fortune when the XRP price boosts.
Lately, the cryptocurrency Ripple XRP price did not change much. All because of judicial proceedings with the SEC that do not allow the Ripple platform to develop and disclose its potential fully. The max price of XRP was fixed in 2017 – $1.4. In 2022, the price varies between 0.3 and 0.8 dollars.
What is the Ripple Future?
Analysing past price fluctuations, experts made a Ripple XRP price prediction: the asset’s rate can reach $1,37 in 2025. That is provided that the platform’s developers settle all the issues with the SEC. So far, we recommend buying some XRP tokens and hold them log term until the situation changes. Don’t forget to assess risks and diversify investments.
Look for more information on Ripple on the WhiteBIT Blog.