XRP Outlook - XRP Price Might Surge More Than 20% If This Scenario Plays Out
XRP Overview
XRP is a cryptocurrency that runs on a digital payment protocol called Ripple. Ripple aims to facilitate global financial transactions and has partnered with several banks and payment providers to achieve this goal. XRP is the native cryptocurrency of the Ripple network, and it can be used to facilitate transactions between different currencies and other assets.
Current XRP Price
As of the time of writing, XRP is trading at around $0.30. XRP has been relatively stable in price compared to other cryptocurrencies, and it has not seen the same level of volatility as Bitcoin or Ethereum.
XRP Price History
XRP has a relatively short price history compared to other cryptocurrencies. It was first traded on cryptocurrency exchanges in 2013, and it reached an all-time high of $3.84 in January 2018 during the cryptocurrency hype cycle. After the hype cycle subsided, XRP's price fell dramatically, and it has been trading in a range between $0.20 and $0.50 for the past few years.
The Scenario That Could Drive XRP Price Higher
There is one scenario that could drive XRP's price higher in the short term. This scenario involves Ripple winning its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).
The SEC filed a lawsuit against Ripple in December 2020, alleging that XRP is a security and that Ripple had conducted an unregistered securities offering when it sold XRP to investors. Ripple has denied the charges, and it has argued that XRP is not a security but a cryptocurrency like Bitcoin or Ethereum.
If Ripple wins the legal battle and XRP is deemed a cryptocurrency rather than a security, it could lead to a surge in XRP's price. This is because if XRP is classified as a security, it would be subject to more regulations and restrictions, which could hurt its adoption and use as a digital payment protocol. However, if XRP is classified as a cryptocurrency, it could be seen as more legitimate and could attract more investors and users.
Risks to XRP's Price
There are several risks that could prevent XRP's price from surging even if Ripple wins its legal battle with the SEC. One of the most significant risks is the ongoing bear market in the cryptocurrency space. Many cryptocurrencies, including Bitcoin and Ethereum, have seen their prices fall significantly in 2021, and this could also impact XRP's price.
Another risk is the potential competition from other digital payment protocols. While Ripple has partnerships with many banks and payment providers, there are other companies, such as Stellar and Litecoin, that also offer similar solutions.
Conclusion
XRP's price outlook is uncertain, and there are several risks to consider. However, if Ripple wins its legal battle with the SEC and XRP is classified as a cryptocurrency, it could lead to a surge in XRP's price. This scenario could drive XRP's price higher by more than 20%, but it is important to remember that investing in cryptocurrencies is highly speculative and comes with significant risks. It is essential to do your own research and consider your risk tolerance before investing in any cryptocurrency.
Ripple (XRP) is a technology that acts as a cryptocurrency and digital payment network for financial transactions.
It was released in the year 2021 and Chris Larsen & Jed Mccaleb are the co-founders of Ripple coin.
However, Ripple has also known as XRP.How do traders and investors buy Ripple in India?Like other major cryptocurrencies, XRP is also available on several exchanges like Koinbazar.
Do you want to invest in Ripple (XRP) currency?
Then Koinbazar would be one of the best crypto exchange platforms where you can exchange XRP to INR safe.
Koinbazar offers an instant INR deposit option that helps traders to deposit funds instantly and start trading comfier.How to Exchange Ripple to INR from Koinbazar?Here's a step-by-step procedure for users to buy Ripple (XRP) with Indian Rupee (INR) from Koinbazar.Step 1:Visit the Koinbazar website.Step 2:If you are already a registered user, choose 'SIGN IN' at the top right corner of the website to log into your account.
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According to Blockchain Training Institute, Korean trade finance is about to be revamped on the blockchain.The transformation is estimated to be done by 2021, nevertheless, the system would be available for foreign exchange payments well within a month's time.The blockchain would be utilized for sharing specific documents of trade finance which can be easily made available to various financial organizations, wherein security bonds for export activities would be made available in a similar fashion with the facility to allow banks to check for any duplication.The strategy was unveiled by the Korean Finance Minister Hong Nam-ki on October 14, 2019, is considered pivotal towards the country’s Digital Trade Development.
Moreover, the strategy is specific to the usage of blockchain with 5G and Artificial Intelligence in order to boost the trading ecosystem with the focus of firming up exports.Hong further expressed that they intend to develop a digital trading place with easy and convenient access during every step of export like contract building, custom clearance, and logistics.They have plans to set up a Digital Trade Blockchain Committee wherein banks, financial associations, trade associations along the Korea Trade Network (KTNet), specializing in automated trade processes would form the core group.The report also notes that one of the objectives of the program is to facilitate foreign exchange payments focused on the blockchain.
It intends to combine seven banks to create the network by December 2019.The u-Trade-Hub 2.0 initiative(UHT 2.0) is another element of the plan for using blockchain.
It will take advantage of the technologies to integrate data on exports, foreign investment and multinational ventures which businesses wish to gain exposure to extend their reach internationally.Blockchain is an area with tremendous global interest in trade finance, and substantial improvement seems to have already been accomplished.
Voltron placed out several major finance organizations of the world, China Construction Bank says that its blockchain trade finance network already is handling huge volumes, while UBS partnered with we.trade live this month.HSBC at the start of this year mentioned that it was looking for partnering with local Korean banks in order to develop their blockchain trade finance activities.
Ripple (XRP) often makes the news.
It’s traded a lot on a daily basis and its value has increased significantly in recent years.
What can we expect from Ripple (XRP) in 2021?Ripple Price PredictionHaving a productive quarter, the XRP price chart shows a less volatile movement at this time.
Yet, as we can see, XRP reached its year-high value in February at $0.33.
It, later on, experienced a massive dip of $0.13 during the Crypto Black Thursday phenomenon.
Favorably, XRP’s chart also displays the +136.04% growth rate of the crypto from its bearish price last March to $0.25 this November.
