In the following article, we will predict the price of Ripple in 2024. Ripple is one of the most popular digital currencies. This currency had a very good growth in 2017 and 2018 and in a short period of time it was able to take the place of Ethereum in the second category of digital currencies. But in a short period of time, we saw the fall of this currency and its price in the market. To learn more about the price trend of Ripple and predict its value in 2024, stay with us on Pooyan Music site.
The aim of the creators of Ripple, unlike other digital currencies, was not to create a new method of payment and an alternative to money and the traditional banking system. Rather, their goal is to create a new calculation method for the banking system, or in other words, an alternative method in the direction of the interbank transfer system with the lowest amount of fees.
Ripple’s main goal is to provide high speed financial transactions. All Ripple tokens were released in the early stages of the protocol’s formation, so it is impossible to obtain Ripple tokens through mining or issuing new tokens. There is no reward for reviewing transactions, and transaction fees are burned and exited from the cycle. As a result, the number of circulating tokens decreases.
If Ripple can be sold at a price equal to $0.62 in 2024, and if it follows the growth trend of the Internet, it will reach $0.80 by 2025, which is 66% more than its current price.
It is possible that its value will reach $0.91 in 2024. If it grows at a rate similar to Google, it will most likely reach $1.42 in 2025, which indicates a 200% increase in its value. If Ripple follows Meta, it may reach $1.83 by 2024 and $4.08 by 2025.
Ripple had a low price after its launch and fluctuated around 1 cent until 2017. But since 2017, due to the upward trend of the digital currency market, its price has increased and reached five cents. Ripple’s gradual price increase gradually accelerated and reached 25 cents a month later.
The price growth of this currency continued until 2018 and reached $3.84. But this upward trend suddenly led to a fall in price and reached $0.3 at the end of 2019. In 2020, with the help of the upward trend of the crypto market, the price of Ripple also increased and reached $0.8. Until in 2021 and with the SEC’s complaint against Ripple, its growth was stopped.
With the announcement of the SEC complaint against Ripple, many exchanges removed this currency from their platforms and many investors started selling it. All these factors led to the drop in the price of Ripple in 2021.
Despite the SEC’s complaint against Ripple and the existing obstacles, Ripple still became the third digital currency after Bitcoin and Ethereum in terms of transaction volume and market depth in the second quarter of 2023.
Ripple price is expected to fluctuate in the range of 84 cents in 2024. That is, this price fluctuation is between one dollar or 59 cents.