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Are you into crypto investments and like to make them from time to time? Or a newcomer who is just figuring out how crypto works? If you belong to either category, then Ripple might be the perfect investment for you!
Before you invest in Ripple, you must know the pros, cons, features, details, and how it can offer you a cutting advantage once you purchase it. It is essential to understand whether Ripple is worth investing in and what you’re laying your feet in. Without any prior knowledge, there’s a high chance you might face losses.
Ripple might be crypto, but it is dissimilar to how Litecoin or Bitcoin works. It follows a payment protocol that is intended to facilitate cross-border and international payments worldwide. While it looks like a fantastic opportunity for successful investments, you should know why you should buy ripple, its functions, and whether there are any hindrances you should watch out for. Of course, no investment is perfect, so you should always know every detail.
What is the price of ripple?
Ripple chart is presented below:
Ripple price forecast
Based on regression analysis and current crypto market condition, the Ripple price can be around $2 at the end of 2021. However, because lack of historical data and the highly unpredictable crypto market (high volatility too), it is tough to make any projection.
What’s Ripple All About?
It is a payment technology created by Ripple Inc., a US-based technology firm. It acts both as an online payment gateway and cryptocurrency (XRP) working to facilitate financial transactions. Brought up together by computer experts Jed McCaleb and Chris Larsen, it was released in 2012.
Ripple is out in the market with three different yet interconnected factors:
- Ripple Network (aka RippleNet), an online payment network is facilitating transactions and payments.
- XRP, a digital cryptocurrency that works through the network of Ripple.
- Ripple Labs, is the company behind XRP, Ripple Network, and other solutions related to Blockchain for transactions.
The whole purpose behind this platform is to ease up the task of financial transactions made online. Mainly, the tools that proceed with these kinds of payments are struggling or complicating for users, and hence they don’t wish to make such transactions.
When these transactions are made and unsuccessful, reliability comes under question, payments become costlier, and there are longer waiting times to identify the outcome.
Ripple rather eliminates all these issues, offering a payment platform, helping conduct international payments that are a hundred percent safe, quick, and without any extra charges. Another added advantage is when you pay via Ripple, multiple payment modes are present, and you can also pay via cryptocurrencies.
Just a few years after Ripple’s XRP release, it was considered as a part of 50 Smart Companies by researching individuals at MIT University during their 2014 announcements, which, as we all know, is a renowned private research university worldwide. Gradually, even financial organizations and banks have laid in their interest in Ripple and its payment systems. Fast forward in the year 2019, 5 years later to the award, over two hundred finance companies have implemented Ripple’s technology.
In recent times, RippleNet Blockchain (Advanced) is used by over three hundred companies from forty countries of 6 continents; think of the extensive network using it. As a result, smaller companies and institutions and big names such as American Express, MoneyGram, and Santander opt for their financial services.
Another fantastic news for the platform is that even Western Union and VISA consider Ripple to switch shortly. Thus, for several financial and crypto analysts, Ripple carries a significant amount of potential. It can even leave SWIFT behind, becoming the A1 choice for safe, trustworthy, and standardized global payments.
What it looks like this is what the Ripple founders want, after all, to become the global leaders in terms of hosting a financial platform. Even during a conversation conducted with Chris Larsen, the co-founder of Ripple in 2020, he said:
“It’s going to take some time; it’s going to seem frustrating because government and regulators work in a different cycle […] XRP can be a replacement for that inefficient (SWIFT) system.”
Therefore if you’re considering Ripple for your investments, you must know the pros and cons of Ripple.
Are you looking for insights and thinking about why you should buy Ripple? Then, get to know some significant ones right here in this article.
The Advantages Attained When Investing In Ripple
Many financial advisors consider Ripple a rewarding investment of the future, making it an exciting option for new and old traders. Here’s why you can consider Ripple as a significant investment.
It’s Quite Feasible
The Ripple XRP is present in the market for an average of 1 dollar and 32 cents/coin. If we see, it is pretty less than their all-time high in the year 2018, and a significant number of coins can be purchased just under 100 dollars. Even a $50 investment can help you attain 200 coins; it is a win-win situation.
The highest Ripple has ever gone is 3 dollars and 10 cents in the year 2018, but according to market analysts, it is projected to push the $1000 market barrier in a span of 10 years. All predictions by far are considered to be very optimistic, so the future for this minimalistic investment seems very high.
Considering its affordability and high-scale abilities, buying some Ripple coins looks like a low-risk deal capable enough to get you greater returns on your investment.
Eliminates Problems & Brings In Opportunities
Ripple acts as a great problem solver for financial institutions working on a bigger scale. It also assists in speeding up the capital flow, which is very beneficial considering economically.
Ripple is capable enough of creating new opportunities because it will be great for businesses operating at a small scale. If it is a widely accepted platform of the future, tons of entrepreneurs and sole traders will have straightaway have a presence economically worldwide.
Great Market Cap
Ripple holds approximately sixty million worth of market cap, making it the world’s 4th highest crypto currently existing in the market. With a huge market cap, it can attain a great amount of trust via investors and maintains its resistance in bigger dips and constantly changing market cycles.
Ripple Is Different From Other Cryptocurrencies
Ripple isn’t just a regularly existing cryptocurrency or a form of technology, but it is actually quite different from the others. It is rather a fully functioning company with over 500 employees. Ripple Inc also has marketing and public relations executives working for them who help promote the platform amongst investors, banks, the public, and new users.
Investors & Partners
When we say Ripple is different from other cryptocurrencies, we actually include the trust it has gained from different financial institutions. Amongst the entire crypto market, Ripple is backed by several institutions, and in some ways, it is liked more than other currencies.
Their 1st client who decided to use the Ripple Protocol for payments was the German bank Fidor, says Pete Rizzo from CoinDesk. Now, they have partnered with huge companies such as American Express, MoneyGram, and Santander, as told above. These are just a few names; they’ve got several other well-known companies associated with them.
Functioning In The CBDCs
Just recently, in March the year 2021, the company declared they are planning to create private ledgers taking note of the public ledger of XRP. As per their acclamations, it is capable of quite a lot of transactions every second.
Surely, just in a matter of time, several successful private ventures might be similar to it. There’s also a prediction that many banks of the future and financial organizations would be operating the XRP ledger’s private version.
XRP Is Still Under The Lawsuit With SEC
The cryptocurrency is still battling a lawsuit with the SEC, placed with the Exchange Commission of the United States. In the last month of the year 2020, the SEC had sued Ripple, claiming that the company sold one point three billion dollars worth of XRP tokens illegally by presenting it under securities and not cryptocurrency.
This case is the reason behind the epic downfall of Ripple’s original value and set it to a great low, whilst other digital currencies were sky-high. Though sooner SEC’s case was declining with weaker evidence, Ripple’s faith to succeed in the lawsuit victory arose. With this ideology, XRP’s prices are now back on track and having a high ride.
Is Ripple a Good Investment?
Ripple can be a good investment if the whole crypto market shows a price increase like Bitcoin’s last decade increase. However, Ripple investing has a lot of disadvantages, and risks such as XRP is not decentralized, ripple having a greater share in XRP, and lawsuits problems.
Of course, with investing in cryptos, one thing is obvious, everything isn’t going to be perfect or free of risk, so here are a few cons that tell you why not invest in Ripple.
- The Cycle Will Stop With No New Ripple Coins
There will only be 21 million Bitcoins, and although the Ethereum production is endless, it will be slowing down in a span of time. The shortage in supply would be resulting in bigger requirements further in just some time, resulting in better benefits for early bird investing people.
XRP is a pre-mined cryptocurrency circulated in the market already, making it different from the others. Hence, the demand and supply will vary only according to what is present in the market.
- Ripple Has A Greater Share In XRP
The company’s co-founder holds one-third of XRP coins, and Brad Garlinghouse, the CEO, also holds a fair share and other board members of the senior section. So a major amount of XRP coins is just in the team’s hand; the chances are high that the prices may get overinflated; also, the market rotation capabilities decrease.
- XRP Isn’t Decentralized
According to blockchain followers for cryptocurrency, XRP isn’t a typical coin present in the market as it isn’t decentralized. Several support the argument that it violates the principles behind decentralization and economic condition. As Bitcoin was created and distributed amongst different buyers, this token was designed to consider the finance and banking industry.
It mainly focuses on sorting out issues under the banking sector rather than changing the regular way people exchange and store value. Also, all of the XRP coins are pre-mined, which makes them different from Bitcoin and Ethereum. With most of the coins present with the board, it strictly abandons the straightforward policy of decentralization, which is the essential philosophy behind cryptocurrency.
- Holds Rivalry Against SWIFT
By far, it’s obvious that Ripple plans to surpass the usage of SWIFT, making it a rival of the world’s greatest payment gateway for international transactions. SWIFT is opted by more than eleven thousand financial organizations. Therefore they’re going to face a tough time to try and explain to the banking industry that their protocols for payments facilitate a quicker, better, and safer gateway to all their transactions.
- Lawsuit Filed By SEC Is Yet On Charts
Although things are beginning to seem better for Ripple, that still doesn’t mean they’re free from the allegations. It is hanging over the company like a nightmare they wouldn’t want to witness coming true. In addition, there is a possibility the SEC might be influenced and would want to bring out an example of Ripple’s unethical practices.
In April 2021, evidence was provided to the court providing SEC had probably tried to attain details related to Ripple through its worldwide contacts, which clearly banishes the Federal Rules of the USA. Ripple is still stuck in the market, which will be a reason behind its slow growth.
- XRP & Ripple Are Two Different Entities
It is clearly visible and noticeable that Ripple and XRP are two different terms people prefer to use interchangeably, but they hold other differences apart from just the names.
Ripple is a company offering several services related to blockchain to their clients, whereas most services are never amalgamated with their own XRP tokens. This justifies that tons of people have a wrong image portrayed of Ripple clients accessing XRP, whereas a minimal amount of those people use.
Quite a lot of their partners are fetching their blockchain services and not their cryptocurrency. Hence XRPs functioning should not be linked to Ripple’s success as more Partnerships of Ripple do not indicate equal XRP value!
In Conclusion: Is Ripple Actually Worth It?
Nearly all investments are summoned with reward v/s risk factor; in easier terms, do the investment benefits outnumber the risks present?
Ripple investment definitely carries some risks. One of them is the founders holding a great coin amount, and it is far away from challenging their biggest competition in the market. Also, it is the least preferred or famous technology in the eyes of blockchain purists.
But if we see the good things, Ripple is being backed up by top-notch financial institutions and is gradually gaining people’s interest. Also, the purchasing amount is a great chance for newcomers to pave their way into the market and an enhanced opportunity for old investors to upgrade their portfolios.
The actually investing question is, should I invest in the Ripple coin? If you’re interested in giving it some time, then it would be a great opportunity to go.
Quick Question, Can XRP Make You A Millionaire?
The market cap of XRP is a whopping $60 million, and if we see its future, then it holds a lot of potential with a great rise as its protocols of payment become widely accepted across the globe. Although, is a strong product, Ripple is only going to walk ahead; it isn’t going to come behind, as its scarcity will also help increase the price.
Invest only after researching a lot because a decision made with haste can cost you. Make a wise decision only after you attain the knowledge of XRP pros and cons. If you think our article has helped you somehow, you can go ahead and proceed towards investing in this coin.
Important Points
In case you consider the pros and cons of ripple mentioned above, take care of these important points:
Ripple has partnerships with renowned banks and financial institutions. The company is also planning to include itself in CBDCs and developing ledgers for private audiences based on public XRP.
XRP is an affordable option for international and cross-border transactions. Therefore, XRP is very beneficial for completing transactions anywhere across the globe easily.
Ripple and XRP are two different entities under one company! Ripple is the company/blockchain service provider, whereas XRP is their token running in the market.
SEC’s lawsuit can be quite an issue. While it is visible that Ripple would be succeeding, the SEC will try bringing them down again.
How Should I Buy Ripple Today?
There are several ways through which you can make a Ripple Investment, but you can do so easily through trading applications.
Step 1: Create An Account
Create an account on a renowned and reputed platform. Then, you’ll need to fill out basic details such as Name, Date of Birth, Contact Number, and Address. Several platforms also facilitate signing up via a Google or Facebook account, which saves the time that would go into filling the details manually.
For example, it would be essential to provide ID proof, an ID issued to you by the government. After you’re done uploading, they’ll take some time y]to verify you, and once done; you’ll be registered on the platform.
Step 2: Initiate A Deposit Amount
To purchase Ripple and any other crypto, you need to top up your account with a minimum amount. There might be different currency options and different modes such as cards, bank transfers, PayPal transactions, etc.
Step 3: Purchase XRP Tokens
Now that you are registered on the platform and have recharged your account, you’re all set to purchase XRP. All platforms have different features but kind of function in the same manner.
FAQs
The article might solve certain queries, but here are answers to some commonly asked questions.
Will XRP ever reach the $1,000 mark?
Seeing its current market situation, its chances to reach the $1,000 mark are quite less shortly. Most predictions are unclear, and it’s still tough to identify the future of this token.
Also, the most ingenuine predictions don’t bother too much about XRP’s future price. Like, Coin Price Forecast has gone the farthest by predicting Ripple XRP at 23 dollars and 92 cents by 2032’s end.
Is there any predicted worth Ripple would hold by 2025?
By the year 2025, XRP might reach a benchmark of four dollars and twenty-five cents, as per DigitalCoin, or there might also be a chance that it reaches approximately 11 dollars as per Coin Price’s Forecast. Conversely, other forecast agencies predict great losses, pricing XRP between $0.24 to $0.39 by the end of 2025.
How much will Ripple Coin be by the coming 10 years?
Ripple coin could be worth a great $140 until 2031, says the data by Price Prediction of Cryptocurrency. Although the prediction by Coin Price’s Forecast still claims that it could reach 21 dollars and 11 cents by 2031.
But keep in note that predicting the prices of XRP 10 years ahead would be a risky task, and most of the forecasters don’t think of this far, so do not consider it for your investments.
Will Ripple Coin jump if Ripple replaces SWIFT?
XRP could reach a whopping fifteen hundred dollars per coin if SWIFT tackles one fifty-three trillion dollars of transaction capacity along with a hundred billion Ripple tokens, says Bitcoinist.
But theories continue to justify if XRP ever took over SWIFT, it won’t be capable of inheriting its entire market value. These predict that if XRP surpassed SWIFT, the value of a token would still be $25.
How many banks are using Ripple?
Over 54 financial institutions and banks have a partnership with the company, as per Coinsuggest.
But this still doesn’t mean that every bank using Ripple also uses XRP for transactions. They use Ripple for blockchain services; therefore, it can’t be clarified which are using XRP coins.
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He is an expert in financial niche, long-term trading, and weekly technical levels.
The primary field of Igor's research is the application of machine learning in algorithmic trading.
Education: Computer Engineering and Ph.D. in machine learning.
Igor regularly publishes trading-related videos on the Fxigor Youtube channel.
To contact Igor write on:
igor@forex.in.rs
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