It’s been a difficult year for Ripple enthusiasts, with the price of XRP dropping 63% from $0.49 on June 25, 2019, to $0.18 on June 25, 2020.
Just like the stock market recovered from its March lows, we could very well see Ripple prices rebound in the next year.
That’s why we had to make sure you saw the latest Ripple price predictions for 2021.
The lowest price target on PrimeXBT.com for Ripple in 2021 is $1.
From today’s (June 25) price of $0.18, that’s a potential gain of at least 455%.
However, there’s one XRP price prediction so bold for 2021, you won’t believe it until you see it…
We’ll share that prediction by the end of this article.
But first, we’re going to answer some of your most common questions we’ve received about Ripple heading into this year and next…
Why Did Ripple Prices Drop over the Last 12 Months?
As we mentioned earlier, Ripple has been in a bear market over the last year.
Here’s one major reason: Bitcoin ETFs have been rejected by the U.S. Securities and Exchange Commission (SEC) for the last couple years.
Cryptocurrency investors were hoping a Bitcoin ETF would lure new money into the market. And that would lead to ETFs created for Ripple, Ethereum, Litecoin, etc.
Money Morning Cryptocurrency Expert David Zeiler said, “A Bitcoin ETF would help bridge the gap by allowing large investors to gain exposure to Bitcoin without the hassle of owning it outright. At the same time, it will open the door to a class of investors whose presence will help fortify and stabilize the Bitcoin market.”
But since the SEC isn’t ready for a Bitcoin ETF yet, cryptocurrency investors still have to wait for that catalyst at a future date.
In the past, high-profile cryptocurrency exchange hacks have made investors fearful of using exchanges and storing their crypto assets.
Finally, the massive run-up of cryptocurrency prices from summer 2016 to early 2018 was so astounding that the market needed a cooldown.
Bitcoin traded for $434 on Jan. 1, 2016 and climbed 4,301% to $19,114 by Dec. 18, 2017. Ripple prices climbed even higher, percentage-wise, when it went from $0.006 on Jan. 1, 2016, to $3.84 by Jan. 4, 2018.
That’s a mind-blowing 63,900% return.
Early crypto adopters cashed out their profits and became multimillionaires.
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But now that prices have come back to earth, we’re getting a lot of questions about whether Ripple is a good investment to make now…
Should I Buy Ripple in 2020?
There are two reasons to buy Ripple right now.
First, if you believe cryptocurrencies are the future of money, you can buy some and spread the adoption.
By owning and using Ripple, you can help make its widespread adoption a reality.
Here’s a list of vendors that accept XRP as payment, to get you started.
The second reason to invest in Ripple is to make a profit in fiat terms.
Currently, most investments in cryptocurrencies should be considered speculative. Don’t invest what you can’t afford to lose. But betting on the biggest cryptocurrencies like Bitcoin and Ripple (with a combined $180 billion market cap) is certainly less risky than speculating on smaller coins only worth a couple million dollars.
If you just want to be an investor and speculate on the price of Ripple, you can open a Coinbase account.
We also have a list of seven other cryptocurrency exchanges that you can review for free here.
So, if you want to know if now is the right time to buy Ripple, let’s look where some of the top analysts in the space see prices heading in the next year…
Here’s Where Ripple Prices Are Headed in 2021
As we mentioned earlier, all three crypto experts see the price of Ripple going up in the near future.
Craig Cole, an analyst at CryptoMaps, believes XRP will jump 455% and reach $1 by 2021.
He claims, “Faster transaction speeds and lower fees make it easier for the financial systems to embrace the virtual currency.”
Since financial institutions are able to save money using Ripple to transfer funds, more will catch on and grow the adoption.
Michael Arrington, founder of TechCrunch, sees Ripple’s price reaching $5 in 2021.
Five dollars from today’s price of $0.18 represents a potential gain of 2,678%. Arrington, who opened a $100 million hedge fund denominated in XRP, says that “Ripple is a really, really good way to move money,” and plans on altering his career path to focus entirely on cryptocurrencies and related technologies.
But this next Ripple price prediction is even greater…
Sixteen dollars per Ripple – or 8,789% from its current price.
That prediction comes from Samson Williams, CSO of SeedUps – an equity crowdfunding platform for seed investment in startup companies.
Williams believes that Ripple could reach $16 as its new supply becomes more limited over time and “get a natural bump” from the upcoming recession.
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Source: Money Morning