In the last week, XRP prices have crossed the $0.20 handle 12 different times. Half on the way up, half on the way down. Did Ripple news really fluctuate that much day to day? Of course not.
It doesn’t really matter where Ripple prices land on a daily basis. What truly matters is the direction it trends in and the spectrum of its potential. Right now, that spectrum appears to have tightened around $0.20.
But don’t be fooled into thinking that $0.20 is our Ripple price prediction.
This is a temporary lull in Ripple’s growth, most likely caused by a fear-driven rotation into Bitcoin. After all, BTC dominance jumped to 49.6% on Monday, which, in the cryptocurrency world, is roughly the same as investors moving to gold during a stock market crash.
In other words, this trend is not driven by fundamentals. If it were, then XRP would be skyrocketing towards $0.40 in the short term and $2.00 in the medium term.
Why? Because the underlying trend is towards fintech startups and banks working together. That cooperation is undoubtedly going to yield some sort of enterprise blockchain solution, the leading option of which is…you guessed it, Ripple.
Despite those long-term forces, the Ripple to USD exchange rate fell 1.21% to $0.199761. The Ripple to Bitcoin rate, however, appreciated 1.70% to 0.00004660 BTC.
We remain more bullish on XRP than any other cryptocurrency, with the possible exception of Ethereum. As such, we maintain our 2018 Ripple price prediction of $2.00.