This Ripple (XRP) price analysis and prediction 2022 is based on the technical analysis alone. Below, you will see some of the metrics/confluences that we have taken into consideration upon coming up with our XRP price prediction and analysis.
In the midst of the present crypto winter, one of the cryptocurrencies that investors are looking forward to for a bullish run is Ripple native token XRP. Due to the growing interest in Central Bank Digital Currency (CBDC), Ripple has positioned itself to be adopted through the private ledgers and cheap cross-border payments it offers through its project Ripplenet.
In recent news, the biggest bank in Morocco-Attijariwafa Bank has entered into a partnership with Ripple to promote seamless payments to its customers with the XRP token.
Would these events and others on the horizon make XRP a good investment for 2022? Let us find out in this CoinQuora Ripple (XRP) price analysis and price prediction 2022 article.
What is Ripple (XRP)?
Ripple is a privately-held fintech firm that offers a global payment solution through its patented payment network called Ripple Network. Moreover, RippleNet is a payment network that is built on top of Ripple’s consensus ledger, called XRP Ledger. More so, Ripple funded the innovation of the open-source XRP Ledger.
Ripple is a privately-held silicon valley tech giant that offers a global payment that reaches both the elites and the unbanked through its patented payment network called Ripple Network. Its native token is called XRP. Ripplenet is a global network that enhances financial transactions through its transparent open-sourced consensus ledger maintained by independent validators at low fees.
Technical aspects of Ripple (XRP)
Transactions within the XRP ledger can be completed within 3-5 seconds. This is opposed to the Bitcoin blockchain where mining fees are high before transactions can be completed due to its adoption of the proof-of-work mechanism.
Ripple node validators include banks, universities, individuals, private payment providers, and cryptocurrency exchanges. Added to this, XRP will not enable users to spend the same amount of cryptos more than two times. This is because the system detects the transaction first and deletes all the subsequent data.
Moreover, the operation of Ripple takes place using gateways. In addition, the gateway performs as an intermediary in the chain of trust between two parties who want to finish a transaction. In specific, banks are the gateways. Even more, the architecture of Ripple is the same as the architecture of the SWIFT global fast payment system.
Now that we have an idea about XRP, do you think XRP will be profitable crypto in 2022? Join me and let us see the charts in this XRP price analysis and XRP price prediction.
Ripple (XRP) Current Market Status
As of the time of writing this Ripple (XRP) price analysis, XRP trades at $0.69 with a 24-hour trading volume of $2,225,198,023. The price of XRP has decreased by 6.75% in the last 24 hours.
Furthermore, XRP has a current circulating supply of 47.66B XRP. Currently, the top cryptocurrency exchanges for XRP are Binance, Huobi Global, OKEx, FTX, Gate.io, Kraken, and Mandala Exchange.
Now, let’s proceed to the next part of this XRP technical analysis for 2022.
Ripple (XRP) Price Analysis 2022
Currently, Ripple holds 8th place on CoinMarketCap. But will the latest upgrades, development, and changes in the XRP blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this XRP price prediction article.
From the Keltner Channel signals for XRP, it could be seen that the next price surge is imminent since the bottom curve is already touching the last candlestick. This shows that the present decrease in the price of Ripple (XRP) is coming to an end and a bullish run is on the horizon.
The Relative Strength Index of Ripple (XRP) chart of XRP is at 31.31 which shows that it is approaching the undervalued or oversold value of 30, which is usually approached before a reversal in price that leads to an uptrend.
Conversely, if the investors go bullish in the crypto, the bulls might take over and enthrone XRP to an uptrend position. In simpler terms, the price of XRP might plummet to almost $0.2017, a bearish signal.
Meanwhile, our long-term XRP price prediction for 2022 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $3.84 this year. However, that will only happen if it breaks many previous psychological resistances it attained the previous years.
Also, it be seen that once this present bearish trend is maintained to a point on or close to support1 level, a double bottom could be formed. If this happens, it should be expected that the price of XRP would get to at least Resistance4 which would give the buyers at that point close to 50% profit.
However, XRP could reverse and trade between the reistance4 price of $0.9065 and the resistance price of $1.9617 soon.
Conclusion
Ripple has a bright future ahead of it in 2022. With the ongoing developments happening within the XRP ecosystem, as well as in the overall crypto market, we may see XRP attain new all-time high prices.
Bullish XRP price prediction 2022 is $1.9617. As said above, it may even reach $10 if investors have decided that XRP is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum since most crypto move in the direction of the Bitcoin trend.
