Cryptocurrency News | 2019 Outlook and Price Forecast for Ripple (XRP) [Ōhira]
Mr. Oohira's Profile
FX history since 2009, cryptocurrency history since 2015. Utilizing cryptocurrency investments and past experiences, he distributes cryptocurrency information on major newsletter sites and investment sites. He participates in numerous individual investor networks and shares knowledge gained from many investors. He has been running a cryptocurrency investment information site for beginners since 2016.
Blog:The Future Potential of Cryptocurrency — Investment Methods to Earn for Beginners
*This article is a reprint/re-edit of an article from FX攻略.com June 2019 issue. Please note that the market information written in the body may differ from the current market conditions.
Raising Attention: Ripple
The cryptocurrency Ripple (XRP) is one of the most popular currencies among cryptocurrencies. On Yahoo Finance, a major Japanese financial site, cryptocurrency price rates began distribution in February 2019 and attracted great attention. By the end of March 2019, Ripple's market capitalization was second only to Bitcoin, making it the world's second-most traded after Bitcoin (Image ①).
Furthermore, according to JVCEA (Japan Virtual Currency Exchange Association) survey results from last December, Japanese holdings were about 65.6 billion yen for Bitcoin, while Ripple held about 98.9 billion yen, a difference of over 30 billion yen. Reasons for Ripple's popularity include its potential to substantially improve fees and speeds in existing international remittances, and its practical and easy-to-understand nature.
Price history to date
Since Ripple was released in 2013, its price remained relatively stable until early 2017, but as international remittance systems using Ripple's technology gained attention and partnerships with major banks formed, prices surged, recording gains of more than 100 times. It is also famous for having produced many people who became millionaires called “okuribit” (million-yen asset holders). As of January 2019, it stood at 35 yen, significantly lower than January 2018, but still nearly 50 times higher than January 2017 (Table ①).
