The main goal of Ripple Price Prediction 2022 is to make banking transactions fast and secure. Current banking transactions include the exchange rate and transaction fees and it takes a long time to complete the transaction. An alternative to Ripple is to use XRP cryptocurrency as the common currency. This coin is the basis for money transfers between different currencies. Ripple is starting to gain traction in the international banking system. More and more banks are starting to adopt this method of transactions as it saves a lot of money by eliminating exchange rate fees.
Fundamental Ripple qualities to consider in XRP prediction
The main advantages of Ripple are:
- high transaction speed, international payments can take days and sometimes weeks, while an average XRP transaction takes about 3 seconds;
- low transaction fees. Transaction fees are low. Unlike traditional international payments, the transaction costs of XRP-based payments are about 60% lower;
- Ripple is a corporate managed product, unlike many other cryptocurrencies. This allows Ripple to clearly differentiate itself, which works in its favour. The management allowed Ripple to forge partnerships with traditional financial institutions. Together, their goal is to provide real-time financial transactions at low transaction costs.
However, Ripple has disadvantages:
- Ripple is centralized. What is called the main advantage is also a serious limitation of this cryptocurrency.Where Bitcoin and other currencies are decentralized and allow the market to do their job, Ripple’s regulation directly limits growth and development;
- Ripple itself owns a significant portion of all available XRP. This limits the operation of this cryptocurrency in the free market.
There is no sharp rise in the price of Ripple. Since the coin is thrown onto the market in large quantities, it has little chance of significant growth;
- Image problem. Ripple’s image has been undermined by allegations of insider trading and coin pumping and dumping schemes. Despite the fact that these accusations turned out to be false, it affected the image of Ripple;
- Also the last negative point is the SEC lawsuit against Ripple over the illegal sale of XRP, which greatly undermined the movement of the coin at the beginning of the year. If not for this event, it is likely that prices could have been at a completely different level.
Ripple (XRP) prediction 2021 and 2022
It was rumoured that Ripple would partner with other cryptocurrencies such as VeChain. While there were no specific partnerships, the CEOs of both companies are positive about future collaboration when the time is right. This could mean a very good future for both cryptocurrencies. Therefore, Ripple’s outlook can be called positive if everything goes as expected.