The downward trend affecting the digital currency market is still in progress, and the flagship product of Ripple XRP isn’t immune to the trend. Ripple (XRP), which is the third most valuable digital currency in the world based on market cap is presently trading around the 44 to 48 cents level, down from its last week’s high of 53 cents.
Ripple Price Today: Current Price of XRP
At the time of writing, the digital currency is trading at 47 cents after an increase of 5.73 percent in the last twenty-four hours. The current market cap of the coin is $18.07 billion with a trading volume of $194.46 million over the past 24 hours.
What’s Expected of Ripple (XRP) When the Next Bull Run Hits?
To be able to predict the price action of XRP when the next bull run hits, you need to take a look at Bitcoin’s historical trend – as it is the benchmark on which other digital currencies are considered. The 4 previous bull trends of bitcoin are 4,167 percent, 1,900 percent, 804 percent, and 1,804 percent, using the average to predict the next bull run; this means the value of bitcoin is expected to increase by 2,190 percent in the next bull run.
In the last couple of year, a lot of digital currencies tend to follow the trends of bitcoin (both up and down), so if this prediction is applied to the current value of Ripple which is 47 cents, then the next bull run could see the value of the coin increase to $10.29.
While the values so far have been based on speculations, the popularity of Ripple is on the increase and its gaining more traction in terms of real-world usage. The firm has already partnered with the largest financial institutions in Brazil and India, and also the Central Bank of Saudi Arabia.
The partnership of the company is growing every day, and this will in return increase its usage as well as its value.