Ripple Price Prediction – As Predicted, XRP Breaks Above $1 in 2017

ripple price forecastRipple News Update

Dear readers, I want to begin this Ripple news update with an apology.

Two of my articles mistakenly forecasted that XRP would reach $2.00 by the end of 2017. Those were typos.

Both articles should have said $1.00 for 2017, which is the forecast I’ve been making for months. I have, however, predicted that XRP will reach $2.00 in 2018.

We have corrected the typos and provided links to articles that contain our original predictions.

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Moving on, we have some uplifting (and coincidental) news. Namely, that XRP finally crossed $1.00 in the early morning hours.

The currency rose 36.5% against the U.S. dollar, bringing the XRP to USD exchange rate to $1.06. Meanwhile, the XRP to Bitcoin rate climbed an even steeper slope, rising 43.13% to reach 0.00006367 BTC.

Ripple Price Chart:

ripple price chart for 21 dec

Trading Volumes

At the start of the week, we cautioned investors not to read too deeply into the sudden dropoff in trading volumes. Yes, they briefly dropped below $1.0 billion, but that was a single data point. An outlier.

Since then, 24-hour trading volumes have remained consistently above $1.0 billion, including yesterday, when they fell to $1.01 billion.

At the time of writing, volumes recovered with gusto to approximately $2.61 billion.

Markets & Exchanges

Bithumb is still the most popular exchange for trading XRP, accounting for nearly one-quarter of all volume. It is also leading the charge on higher XRP prices. The average price reached $1.19 yesterday.

By contrast, one XRP coin costs $0.964220 on Bitfinex.

This discrepancy might be explained by the fact that Bithumb is a Korean exchange dealing in XRP/KRW pairs. It is an open secret that Korean traders are bullish on XRP.

After all, the average price on two other Korean exchanges, Coinone and Korbit, was $1.18.

Analyst Take:

We believe that Korean traders were ahead of the curve on XRP. And, to a lesser extent, so were we. With that in mind, we strongly affirm our $2.00 Ripple price prediction for 2018.

Also Read: Cryptocurrency Price Predictions 2018: Ripple Is the Clear Winner