XRP has firmly established itself as one of the leading cryptocurrencies, thanks to its unique focus on enhancing cross-border payments, high transaction speeds, and low fees. Its strategic partnerships with major financial institutions like Santander and American Express highlight its real-world utility and adoption. Despite facing regulatory challenges, particularly the ongoing SEC lawsuit, XRP continues to maintain its place in the market due to its strong ecosystem, which includes RippleNet and its underlying XRP Ledger.
In traditional consensus algorithms, such as Proof-of-Work (PoW) or Proof-of-Stake (PoS), trust in nodes is formed based on their computing power or the value of the balance. In XRP, trust is built on the reputation of the owners of node validators, which are banks and other registered companies (Axis Bank, American Express, Royal Bank of Canada). Validators must reach an agreement on the authenticity of transactions to confirm them. After years of analysis of the XRP price, crypto experts are ready to provide their XRP cost estimation for 2032. It will be traded for at least $11.52, with the possible maximum peaks at $13.46. Therefore, on average, you can expect the XRP price to be around $11.84 in 2032.
Reaching a $100 price point would mean a market capitalisation of roughly $5.2 trillion for XRP, considering the current circulating supply of about 52 billion. The approval of bitcoin exchange-traded funds (ETFs) in the US earlier has fuelled interest in other cryptocurrencies. Ethereum, the second largest cryptocurrency, has also recently had its own spot ETFs approved in the US. However, while bitcoin rallied into the ETF decision, similar optimism is not evident for XRP, which is not expected to attract an ETF any time soon.
The 50-day SMA indicates the average price of XRP over a 50-day period. The 50-day SMA is commonly used to gauge the price trend of an asset over an intermediate period of time. A rising 50-day SMA indicates a positive XRP price trend in the medium term, while a dropping SMA indicates the opposite.
At the time of writing, XRP is trading below $3.10 and is down by more than one percent in the last 24 hours. These include the adoption of Ripple’s technology by banks, regulatory changes, competition, and market sentiment. Understanding these factors is key to predicting XRP’s future price.
The estimated circulation supply exceeds 55.4 billion units, which is slightly higher than fifty percent of the maximal supply of 100 billion. More than two years later, in July 2023, the court issued a mixed verdict. While XRP sales on exchanges and through algorithms weren’t considered securities, the judge ruled differently for Ripple’s direct sales to institutions. The SEC reacted strongly in March, seeking over $2 billion in fines and penalties from Ripple. As of May 2024, a critical court case is taking place involving access to Ripple’s legal records pertaining to XRP transactions.
The Ripple Consensus Algorithm ensures network agreement without proof-of-work or staking. Each node confirms transactions using a Unique Node List (UNL) of trusted validators. In rounds of consensus, nodes propose transaction sets, adjust them based on their UNL’s votes, and finalize those with at least 80% agreement. If the United States adopts a strategic reserve that includes Bitcoin, it could be a massive catalyst. It would likely push other countries to follow suit and increase institutional accumulation.
To acquire and store XRP, there are several options, including hardware, software, and cryptocurrency exchanges. Launched in 2012 alongside the Ripple Network, XRP has a maximum supply of 100 million coins and reached its last all-time high of $3.40 on January 7, 2018. With new SEC leadership and a potential shift to pro-cryptocurrency policies, investors are buying XRP in anticipation that the SEC may seek to end its fight.
