On 30 August 2018, Bloomberg released a research report about the valuation of cryptoassets. This is the fourth part of a five-part series (on the cryptoasset market) that has been prepared by premier ICO advisory firm Satis Group.
Research firm Satis Group has released a new report making bold price predictions about the current leading cryptocurrencies on the market. It is attempting to create accurate valuations based on real-world data.
XRP (XRP) Price Today – XRP / USD
Price 24H (%) -1.13%
Ripple’s XRP Price Prediction 2018, 2020
• According to Smartereum, experts believe the digital asset could rise to as high as $200-$300 in ten years. Megacryptoprice forecasts that the coin will hit $6.14 by the end of next year.
• Ripple Coin News predicts that the crypto could climb to about $8-$10 by the end of this year. However, the Economy Forecast Agency has forecast that the coin’s price will fall by the end of the year on account of “technology partnerships not fulfilling promise”.
• The price of the token was expected to soar in the first week of October, 2018 given the completion of Ripple’s flagship event, Swell 2018 in San Francisco California. Swell saw leaders from the finance, banking, technology and even the political sphere come together to engage in discourse about the future of cryptocurrency.
Will XRP Reach $1 This Year?
The digital token will hit $1 this year, according to Nigel Green, founder and CEO of financial consultancy deVere Group.
Green cited both the momentum surrounding the XRP token, as well as its practical usefulness, when making this prediction.
When polled regarding this prediction, market observers offered a wide range of views.
A handful of analysts, for example Marouane Garçon, indicated that they could get behind Green’s optimistic forecast.
“I definitely agree with that assessment,” said Garcon, managing director of crypto-to-crypto derivatives platform Amulet.
“The price had already pumped to $0.75” before xRapid’s release, he noted.
“If Ripple’s partners start utilizing XRP during their day to day operations before the end of the year then I think $1 is a modest price point,” Garcon elaborated.
“From here on out it depends on developments and usage. They’ve made promises that some of their partners will use XRP and once people see that happening they will have gain unwavering confidence and that will certainly be reflected in the price.”
‘Multiple Factors’ Could Fuel XRP’s Rise
Chris Kline, co-founder and COO of Bitcoin IRA, offered a similar perspective.
“I agree with Nigel Green’s assessment that the XRP token will reach $1 by the end of this year,” he stated, citing “multiple factors” such as the launch of both xRapid and Ripple for Good.
Further, he stated that XRP prices could rally if “Google’s and Facebook’s recent reversals on crypto advertising bans” fuel a “year-end value surge.”
Other market experts seemed a bit more reserved in their forecasts, for example eToro analyst Mati Greenspan, who described XRP’s chances of hitting $1 this year as “a distinct possibility within a range of possible outcomes.”
However, he stated if the digital token does reach this level, he wouldn’t be surprised in the least, seeing as how XRP is “extremely volatile” and October will be an “exciting month” for the digital asset.
While the digital token could reach $1 in 2018, it “is more likely to trade around the $0.80 to $0.90 range for an extended period of time unless another major announcement is made before the New Year,” said Joe DiPasquale, CEO of cryptocurrency fund of hedge funds BitBull Capital.