Ripple price is still struggling to gain momentum and declining below $0.1920 against the US dollar .
In Bigger TF Chart, XRPUSD Is Forming Pattern & Holding Bottom Support As well.
Recently, Ripple (XRP) Hits 27-Month Low & Now holding the Bottom Support.!!
Ripple’s price action in 2020 will largely depend on the movement in Bitcoin’s market.
For instance, the 2020 Bitcoin halving event is expected to drive the price to highs above $20000. The correlation between the assets will impact XRPUSD into a rally and could pull the price to levels above $1.0.
However, I still believe 0.9$ is a very conservative price for XRP.After Breakout.
Ripple has particularly struggled with regulation for its XRP cryptocurrency, especially in the United States.
The Securities and Exchange Commission (SEC) is torn between categorizing XRP as a security token or leave it to ride along as crypto.
However, XRP has gained traction in the United Kingdom, which recently referred to it as crypto, just like Ethereum .
Many experts and enthusiasts believe that unclear regulations for the industry are stifling innovation.
Ripple Future and Growth
Ripple is often regarded as the future of cryptocurrencies in terms of technology infrastructure as well as mainstream adoption.
Armed with its flagship products: RippleNet and xRapid the network is set to be the bridge between cryptocurrencies and the traditional banking system.
More importantly, Ripple believes that it will soon overtake SWIFT to become the preferred cross-border money transfer platform.
SWIFT has its own share of struggles that are dealing with including long processing time and unreliability.
On the other hand, Ripple as mentioned above already has signed partnerships with more than 200 banking institutions.
Besides, this number is expected to grow with the current expansion to the Middle East and the Asian regions.
Ripple’s XRP demand in the future will mainly come from banks as adoption increases supported by the need to send money across the border faster, reliably and a low cost.
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