Ripple’s price is on the rise – and predictions are for more to come

Ripple continues to climb, and many are predicting this is just the beginning…

Whilst the cryptocurrency market is in a rare month of relative stability, with most coins settling at around the same level these past weeks, there’s been a sudden burst of activity surrounding Ripple.

It comes at a point where Bitcoin remains in and around the $6500 zone it’s comfortably sat in for a little while now. But yesterday, the price of the Ripple token shot up by over 10%, showing by distance the biggest percentage jumps of any coin on the top 25 board.

In fact, it’s had a good few days…

It comes against a backdrop of speculation about a potential bull run on Ripple, and predictions of a price rocket in the near future.

But in this instance, the rise of Ripple appears to be more related to the fact that the Ripple Foundation has confirmed that it’s opening an office in the United Arab Emirates, as it embarks on a Middle East expansion.

Furthermore, new research from Picolo, an independent group, has suggested that XRP may actually be undervalued even as it stands. With growing institutional investment volume, and the incoming commercial unveiling of cross-border payments service xRapid, Ripple is in a strong place. The report says that “it is important to note that XRP’s value is derived when clients use XRP as a bridge currency on Ripple’s xRapid platform, and not directly from its other products. We derive its fundamental value from two aspects”.

A few factors seem to be funnelling a rise in XRP, then. The next week or so should be interesting as momentum continues to build…

Image: BigStock

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