The XRP price will move in a giant rounding formation in 2020 which should set the stage for a bullish outcome starting in 2020.

Our XRP price forecast for 2020 is the last addition to our annual global market forecasts. Although we mostly try to forecast a specific price target we will not do so in this XRP price forecast for 2020. We will determine directionally where XRP is going in 2020. For 2021 and beyond we remain firm to our first price target of 4 USD which are former all-time highs, followed by ultimately 20 USD. Impossible? Nothing is impossible. BTC went through a 100-fold increase in 2015-2017. Why would XRP as the most promising cryptocurrency in terms of adoption not be able to rise 20-fold, followed by another 5-fold rise? As said in our 7 Must-Read Cryptocurrency Predictions For 2020 we believe the grand (secular) crypto bull market will continue, and it will be a pre-requisite for XRP to thrive.

Let’s start with the most important premise of XRP: adoption. That’s what sets it apart from practically any other cryptocurrency out there. We’ll then move to the XRP chart.

XRP Bullish Price Forecast Based On Adoption

XRP in transactions starts becoming really significant. The demand for XRP is growing fast now.

Right before 2020 kicked in the world learned about Ripple’s $200M fund raising success. This fresh new capital will be used to accelerate the XRP adoption process.

In an interview with Fortune, CEO Brad Garlinghouse said Ripple currently has more than 300 customers. He expects Ripple’s customer base to grow 30-40% in 2020, and says transaction volume on the company’s network will increase more than 600%. The $200 million investment, which was also backed by SBI and Route 66 Ventures, may help Ripple refute skeptics who say its technology is a solution in search of a problem and question why banks should adopt it.

Moreover, from the same interview with Ripple’s CEO it appears that Ripple is really committed to growing the XRP ecosystem:

As for the new funding round, Garlinghouse cited a high level of investor interest in Ripple, saying the company did not need the money, though the funds will provide “balance sheet flexibility.” A Ripple spokesperson said its plans for next year include hiring up to 150 new employees and adding overseas offices.

One of the most important signs of adoption is the partnership between Ripple and Moneygram, one of the largest money transfer services worldwide. Even CNN featured this, and there is a direct link to the TV interview through this tweet.

It is clear how fast the volumes are growing that XRP is transferring from one currency into another currency (one source and another source).

XRP Price Forecast For 2020 Directionally Bullish

From a price perspective, the breakdown of XRP was an important event of 2019.

We believe that XRP is setting a giant rounding pattern. A major rounding bottom or ‘saucer base’ in more technical terms. Eventually, this will resolve to the upside, and we believe that XRP will set a major bottom in the first half of 2020 before starting its steady rise.

In our cryptocurrency investing premium service we explained in great detail how this formation tends to have a bullish outcome, provided it respects this formation of course. We saw an analogy with the 5 decade long silver price chart. The comparison is striking, not only because the setup is almost identical but also because of the 10x faster factor (the time silver spent to consolidate before bottoming is almost identical as 1/10th of the time XRP doing the same).

Long Standing XRP Price Forecast Of 20 USD Still Valid

Our longstanding price target of 20 USD is still valid. XRP will not trade at 20 USD in 2020 obviously, that’s a bit too ambitious, but it will set the stage in 2020 for an accelerated rise later down the road.

The first step is for XRP to respect this giant rounding formation. As long as XRP continues to move in this pattern and as long as the long term crypto bull market (driven by BTC) will continue it will lead bring XRP sooner or later back to all time highs.

That will set the stage for a break to new highs which will bring the long standing 20 USD price target front stage. That will be the time when XRP will have such a massive adoption that huge demand for XRP will drive its price. That’s not for 2020 but we should see the signs of our forecast in 2020 though.