Will XRP hit $100 by 2021?

Closing in at the end of last year, cryptocurrencies around the world hit their highest points. Bitcoin was nearly $19,000 and its value caused a spike in the altcoins as well. One of the cryptocurrencies which hit its high during that time and is struggling now is the Ripple (ticker: XRP), which hit its all-time high of $3.65 in January this year.

With the year drawing to an end, analysts have predicted that the price of the bitcoin will go as high as $25,000 if not higher. This has caused many people to wonder if the price of Ripple will go higher than it was last year.

If the prediction for the price of the bitcoin stands true, it can be easily predicted that Ripple will also go for as high as $10 at the end of 2018. If the trend continues, the price could also go higher than $20 by 2022. This is as per the predictions of Thomas Lee, Managing Partner and Head of Research at Fundstrat Global Advisors. Lee is one of the most reputed analysts when it comes to cryptocurrency.

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However, with the current ongoings in the market, it seems like the price of the bitcoin is struggling to break the $6500 barrier. Another thing which has to be considered is that the price of the BTC is not necessarily going to affect the price of XRP. This is because the Ripple platform is still facing many problems and challenges.

XRP Price Prediction 2021: Can XRP hit These levels?

While there some issues with XRP as stated above, it has had its fair share of positive developments through 2018 and even in early 2020. This indicates that XRP is being considered as a potential technology which could shape the financial sector specially when it comes to simplifying of payments.

Possible Partnership With JP Morgan

While there has been a steady growth in partnerships, there have been speculations about J.P Morgan partnering with Ripple, this remains to be speculated as there have been no official statements by either of the companies. However, the rumors came to light as there was an update on the J.P Morgon treasury site. The update said that J.P Morgans was working on a new real-time payment system to provide faster transactions.

On the contrary, J.P Morgon has also launched its own blockchain called ‘Quorum’. While this could be used for their in-house solutions, it is believed that for cross border and inter-bank payment solutions, they may still have to partner with Ripple.

The Launch of Xrapid

This comes soon after the launch of Xrapid by Ripple. Ripple touts this to be an ultimate banking solution which can reduce liquidity, time and fee issues when it comes to cross border payments.

With Xrapid, Ripple will be used as an intermediary between the two exchanging currencies. The main problem faced by banks is that they need to have a pool of funds in order to facilitate the cross border transactions. This caused a delay in the processing of transactions and also additional costs to the bank which ultimately was passed on to the consumers. Xrapid provides a solution to this problem as XRP could be used as an intermediary to process the transaction and conversions can be made to the local currencies without any delay.

XRP: A Friend of Banks

While everyone hails the innovation of blockchain technology, many countries and institutions are against the idea of cryptocurrencies due to many reasons. It is a fact that most governments would not subscribe to the idea of decentralization. While in talk they may say that they are all for decentralization of institutions, they are against the idea in principle. The reasons are simple – Governments will lose control over most of the assets and may slowly become irrelevant.