Factors that could influence XRP price in 2020
It pays to remember that when it comes to price predictions, there’s no solid proof that anyone has it right. There are many factors surrounding XRP that could affect its price both positively and negatively.
For example, Ripple is now working with more than 300 financial institutions including the likes of Santandar Bank and American Express. These are companies using Ripple’s technology RippleNet to improve their payment services.
If these partnerships continue to rise and more and more institutions benefit from Ripple technology, that should help to bolster XRP price, at least for the long term.
Moreover, the company currently employs more than 230 staff in the US and is valued at over $10bn, making it one of just 11 blockchain unicorns. Ripple was also recently ranked as one of the best places to work by Fortune magazine.
More to the upside, XRP futures seem to be the flavor of the day, with more and more exchanges adding this market including powerhouse Binance earlier this month.
If 2019 was a year to forget for Ripple, 2020 could mark a turning point (in a “sink or swim” type of way). From IPOs and lawsuits to greater adoption of its technology and growing use cases, there’s a fair amount of conflicting forces revolving around Ripple.
It’s certainly going to be interesting to see how the year unfolds. XRP to the moon? Unlikely. But if you do have faith in the token and the bullish XRP predictions, now could be the time to stock up.
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