With the launch of a new project called "Line of Credit", Ripple has standout its performance as a seamless payment gateway experience. XRP market status is giving better competition to other cryptocurrencies doing the same. But the XRP admirers are desperate to see Ripple crossing the benchmark of $8 soon this year.
What is Ripple (XRP)?
It is a privately held FinTech firm offering a global payment solution through its patented payment network. The Ripple payment network developed on top of Ripple's consensus ledger, the XRP ledger.
While other cryptocurrencies catering peer-to-peer, Ripple was in the market to connect banks, payment providers, and cryptocurrency exchanges, allowing real-time settlement expeditions and lower transaction fees.
Now we know about Ripple. Do you think it is a worthy option to choose over other cryptocurrencies in India?
Also, if you choose to buy XRP in India, will it hit $8 this 2021?
Well, a lot more questions are rising in the mind of every individual. But before you go brain freeze, let us tell you that this blog is all about Ripple and its price prediction.
Also Read: 5 Reasons You Should Know Before Using Flitpay to Invest in Bitcoin
History of Ripple
Ripple was conceived by Jed McCaleb and built by Arthur Britto and David Schwartz. Later in 2005, Jed, Arthur and David approached Ryan Fugger, who debuted as the financial service to provide secure payment options. Fugger developed a system called OpenCoin that transformed into Ripple. The company also came up with its digital coin XRP, allowing financial institutes to carry transactions efficiently and at lower transaction fees.
In 2013, the company reported that banks are inclined to use the technology for improvising their financial systems. By 2018, 100 banks signed up and started to use the Ripple XCurrent messaging technology. By that time, banks were serious about the volatility issue the XRP was facing. Therefore, this led to the denial of the XRP adoption.
The representatives of the Society for Worldwide Interbank Financial Telecommunication (SWIFT) argued scalability issue and other blockchain solutions remain unsolved, confining them to bilateral and intra-bank applications. But still, SWIFT's market dominance was once challenged by Ripple. The concern for the bank was the same even after the acknowledgment received in 2018 "We started out with your classic blockchain, which we love. But the feedback from the banks is you can’t put the whole world on a blockchain."
Ripple backs on a common shared ledger, i.e., a distributed database sorting information. In one discussion with Stanford Graduate School of Business, Chris Larsen said that the network is managed over a network of independent servers, comparing their transaction records and that servers as per theory can belong to anyone including banks or market makers. Ripple is a much faster service as it validates accounts and balances in a few seconds. Thereby, payments are irreversible and there is no chargeback.
Also Read: Ripple - A Golden Goose to Invest in 2021
Ripple Current Market Status
XRP market status has seen the dip and bull in recent. On October 05, 2021, the XRP price recorded was $1.04 with a 24-hour trading volume of $3,101,125,495. XRP has reached a market capitalization of $48,659,649,432 with a circulating supply of 46.75 billion XRP until now.
XRP Price Analysis 2021
Every Ripple enthusiast is desperately waiting for it to cross the benchmark of $10 this 2021. Many big names have said about the XRP price prediction discussing the current market trends. It is seen the Ascending Channel pattern in a daily time frame. But on the other side, it also shows the higher highs and lows with the current price pattern. It is suggested that the formation of a pattern is short-term bullish.
In the last month, i.e., September, XRP is seemed to witness the change in trend from bearish to bullish. It is said to be the effect of the high trade volume that happened during the period.
With the help of an analytical tool, the Relative Strength Index (RSI) seemed to cross 70, leading XRP to an overbought state. It means the current XRP market status will soon see the price reversal at any given time.
When looking at Simple Moving Average (SMA) and Exponential Moving Average (EMA) of XRP, the price has witnessed many bullish moves higher than the last one. When we consider fluctuations, consolidations, and corrections, it is well-advised to stay focused on the curves and plan your move accordingly.
Also Read: What Is the Cryptocurrency Market Cap? Why Is It Important
XRP Price Prediction 2021
The XRP is performing great for the past few days. In October 2021, the bullish trend seemed to continue. With the 7 day change in percentile of about 11.34 percent, the trend continues to be bullish. It may go on for the long run. As in April 2021, we can see the two support level with a change of 0.05007 to 0.59608 reaching the resistance level 1 with 1.88786.
When moving ahead, with the bullish run it is not yet possibly we see that XRP will hit $10. Perhaps, the tables might turn, and the XRP price prediction its admirers are predicting may come true.
How to Buy XRP in India?
Buying XRP or any other cryptocurrency is made easy in India by cryptocurrency exchanges. If you are willing to buy XRP in India, you must trade on Flitpay.
Flitpay is one of the most trusted exchanges in India. With its 99.9 percent uptime, it also delivers users with a seamless, easy-to-understand, and highly navigational platform. From time to time upgrades, Flitpay focuses on removing bugs that may later intrude and become the potential reason for data breaching.
Flitpay has its core algorithm primarily focused on delivering other cryptocurrencies and XRP market status. Unlike others, our API does not fail to show you the best possible price for the buyers. You can experience the never halting trading experience with us by signing up within no time KYC approvals.
Disclaimer
The opinion and views expressed in the article do not represent the exactness. No information in this blog should be taken as a piece of investment advice. Flitpay encourages all readers to do their own research before reaching the final conclusion of investing in cryptocurrencies.
FAQ
What is XRP?
It is a native digital asset of Ripple. Ripple is a privately-held fintech firm offering global payment solutions through its payment network called Ripple Network.
Can XRP Reach $8 Soon?
XRP is one of the most active cryptocurrency assets continuing its uptrend. If the bullish trend continues, XRP might be able to break from $5 and go all way to $8.
How to buy XRP Tokens at Flitpay?
Buying XRP at Flitpay has now become quicker. Log in to your Flitpay account from any device and go to the Markets option present in the menu. Click on Buy and fill in the details required, and in less than a second, your purchase will start to reflect in your digital wallet.
Is XRP a good investment in 2021?
XRP is the top-rising cryptocurrency this year. With the recorded achievement of XRP in the past few months, it is potentially a great choice to invest in.
What will be the XRP price by 2021 end?
As per our analysis, it is expected that XRP will cross the mark of $4.36 at 1 yearly low. The 1 year high could skyrocket to $10 for the XRP.
