Ripple (XRP) has a pretty eventful year. A lot of developments have been done by the company in terms of bringing the project into the limelight. As a result, XRP price prediction may just hit bullish by 2021.
Ripple in Q3 2020
As an XRP holder, it is important to know the crypto’s progress. Significantly, among Ripple’s milestones for Q3 2020 are the following:
- Ripple launched Line of Credit. This is a new beta service on RippleNet that allows customers to use On-Demand Liquidity (ODL) in sourcing their capitals.
- Total XRP sales. There were a total of $35.84 million (USD) in XRP’s sales last quarter.
- Average daily volume. Ripple’s trading volume significantly increased from Q2’s $196.28 million. In Q3, the volume reached $403.58 million.
- Ripple unlocks billion-worth from escrow. Three billion XRP were released out of escrow accounts (one billion each month).
- Overall liquidity and volume. XRP ended the quarter as the 4th most traded digital asset.
- Most relevant crypto in CBDC space. World Economic Forum (WEF) named XRP as the most relevant cryptocurrency for the rising central bank digital currencies (CBDCs) space. This is mainly due to the project’s focus on interoperability.
Ripple Price Prediction
Having 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. If this bullish position remains, we can keep our Ripple price prediction at a price of $0.5 before the year ends.
More so, we are stretching our XRP price prediction to $1 – $1.5 in 2021, if the market continues to favor the crypto.
Andrew is a writer that does most of his work on cryptocurrency-related topics. While he’s primarily interested in Bitcoin, he also follows major altcoins and the innovative ideas that new cryptocurrency and blockchain projects are bringing to the table.