The year 2017 was a great one for cryptocurrencies. Unfortunately, there are many who feel like they missed out on this crypto roller-coaster that saw bitcoin hit close to $20,000. At its current price levels of above $10,000, bitcoin may not be the most ideal investment for many. In case you fall in this category, do not feel bad about it. There is one cryptocurrency that has the chance to give you even better returns in 2018 than Bitcoin did in 2017 and that’s Ripple. Yap, you got that right! Ripple is the next big thing in 2018.
Latest Ripple (XRP) Predictions for 2018
In the last one week, it has moved from less than a dollar to its current price of close to $2. There is a good chance that Ripple will hit $100 in 2018. If you doubt this, here are 3 reasons why Ripple will hit $100, and why you should be looking to invest.
- It has real world use
Unlike most cryptocurrencies out there, Ripple has a real world use that most people can relate to. That’s because ripple is being used by the banking sector to increase efficiency in international transactions. In fact, ripple is poised to replace the SWIFT system that banks use for international transfers.
As banks across the world continue to adopt ripple, its price will rise. In fact, the current price jump to $2 can be attributed to adoption of the system by Japanese banks. Now imagine once this adoption goes global? The price could easily shoot above $100.
- The forces of demand and supply
One thing that serves to push cryptocurrency prices up the economic concept of demand and supply. Take bitcoin for example, once it hit $1000, investor interest grew. Everyone wanted a piece of this new digital currency. As a result of this growing demand, the price of bitcoin has moved up to over $10,000. Ripple will most likely go through the same cycle. Right now ripple has shot up to $2 in less than a week.
This has led to an increase in investor interest since people don’t want to miss out on the Ripple train, like they missed out on the bitcoin one. This upsurge in demand will push the price to $10, $50, and eventually to $100 and above within the year.
- Ripple is scarce
Ripple has a maximum supply of $100 billion. While this may seem like a huge amount, it is important to remember that all these coins have been priced-in. Therefore, at this point, supply will never be an issue to the growth of Ripple. Besides, as more ripple coins are taken up and used for transactions purposes, the number of coins in circulation will decrease. This limited supply will play a role in pushing up ripple prices as the other factors described above also play a role in pushing up ripple prices.
If you would like to invest in ripple but have no idea how to do it, rest easy because the process is quite simple. All you have to do is create an account with any of the major cryptocurrency exchanges. From there you can exchange bitcoin or any other crypto for ripple, or buy it using fiat currency.