Initially released in 2012 and stably released just two years ago, Ripple is authorised by Arthur Britto, David Schwartz and Ryan Fugger and is written in C++ language.
Based in United States, Ripple Labs Inc., created Ripple, a virtual settlement system that provides it’s users with a networking system for exchange of currency, and monetary transfer facilities.
The system uses XRP for its financial accounting and is a decentralised cryptographic currency.
If we base our research on reports formulated at the beginning of the year, XRP Ripple was the the third largest cryptocurrency, only after
Bitcoin and Ethereum.
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But 2020 is nearing it’s end. Is Ripple currency still that precious?
That is what we will try to find in today’s article.
》RIPPLE’S WORTH AT THE BEGINNING OF THE YEAR
When we entered 2020, the earth was still a normal place without a pandemic ragging everywhere, but even at that time, cryptocurrency analysists didn’t have much hope of profits from Ripple even after being on the third rank on the lists of largest crypto currencies with accordance to capitalisation .
This negative predictions were made because of two facts. Firstly, the supporters of XRP Ripple were down by almost 50 per cent and secondly because, since 2018 there has been no rise in the supporters of the currency instead the numbers kept on decreasing.
It is actually quite difficult to predict a coin’s future rate and value because there are several factors affecting it.
Some analysists use the developments of Bitcoin to predict the future of XRP Ripple because it is an altcoin. It has been observed on several occasions that good performance on Bitcoin’s behalf has pulled up the charts for Ripple.
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Another factor deciding Ripple’s performance in 2020 is where the currency was in the year before?
If we look at the point table of highest grossing currencies in 2019 we won’t be able to find Ripple anywhere near the top. Why? Because Ripple was nowhere in the top 30 names, even after having a pretty good capitalisation and the sole reason behind this was that the value of the XRP fell by almost 46 per cent whereas the other experienced a growth of approximately 30 per cent.
But now that 2020 is nearing it’s end , let’s see of XRP Ripple has turned the tables around or not?
Though any development is yet to be seen, THE RIPPLE ARMY,ie., groups of people who believe that XRP Ripple will one day reach the top of the list of highest grossing crypto currencies, argue and demand to know why people have the opinion that Ripple can reach nowhere? If currencies like Bitcoin could take a leap of 100 times increase then why cannot Ripple being the most convenient currency to invest in and the most adoptable currency cannot take a leap and set it bar high?
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》RIPPLE’S WORTH BY THE END OF 2020
When we entered 2020, the value of the currency could be calculated by moving towards the left of the number line. But as the year started accelerating the value also started increasing again slowly and steadily.
It was hoped that 2020 will become the year after 2018, when Ripple gains back it’s true potential. The reports suggested that even though Ripple entered 2020 with a value of just $0.2372, by the time it enters 2021, it’s value will at least reach $3.00 .
It is suggested that if XRP Ripple could maintain the financial relationships it holds with several banking and financial companies properly, then by the time we enter 2024, it will hold the potential of reaching a value of $15 at the maximum.
It is believed by some that the present economic market that is being ruined by the virus daily, will be so devastated that soon a time will come when some of the existing currencies will cease to exist. But Ripple will the one to save the day then, the one to reform the market again .
So the conclusion that we can reach is that, though today XRP Ripple is not a hype , there is a fair chance of it ruling the market one day.