Would you like to invest in Ripple in 2021? Then you need to grapple with the topic in detail. We at ROInvestiung offer all useful information in this article!content
- What is Ripple anyway?
- Invest in XRP and expect something from it?
- Invest in Ripple and pursue plans and goals together
- Should you buy Ripple or better not?
- Invest in Ripple
- If you're looking to invest in Ripple, then consider XRP CFDs!
- FAQ: Investing in Ripple
What is Ripple anyway?
What is Ripple (XRP) anyway? This is a question you have to ask yourself before you think about investing in Ripple.
The recently launched cryptocurrency "Ripple" has found its place in the hearts of many investors and their portfolios. Although new projects are launched in the industry almost daily, some of the early digital coins seem to have cemented their leadership positions.
XRP is one of the largest cryptocurrencies on the market. Compared to other cryptocurrencies, this one works in a unique way and paves the way for new and exciting opportunities.
However, following the transfer of the title of the third largest cryptocurrency to Tether earlier this year, many investors are skeptical of the project's future potential.
Should you still invest in Ripple at the end of this turbulent year? Why invest in XRP instead of waiting for many other booming cryptocurrencies to launch in 2021?
In this article, we'll try to answer that question by focusing on the latest news and developments that can add value to Ripple's indigenous coin.
We'll also look at analyst forecast to understand the outlook for the XRP price for the foreseeable future.
Invest in XRP and expect something from it?
Ripple is an open source platform that aims to enable fast and inexpensive transactions via the local currency XRP. It is designed to solve the time and cost issues associated with traditional settlement systems like PayPal and SWIFT. RippleNet is a corporate network of institutional payment providers that should make time-consuming and expensive transactions a thing of the past.
The technology is extremely scalable: it can process 1,500 transactions per second. To prove it, Michael Arrington, founder of TechCrunch, reportedly sent $ 50 million (£ 39 million) to XRP in 2018 and "The process took about two seconds and cost the founder only 30 Cent".
The main goal of the company is to set up a payment system that banks can use to facilitate the transfer of funds in the international and domestic market.
Today, XRP has won the trust of many famous financial institutions including JPMorgan Chase (JPM), Santander (SAN), and Bank of America (BAC). One of Ripple's key strategic agreements was signed with global remittance giant MoneyGram in June 2019.
Another major Ripple provider is European banking giant HSBC Holdings (HSBA), which announced in 2019 that it will be using the XRP payment solution. Japan Post Bank, Mizuho Financial Group (8411), and Sumitomo Mitsui Financial Group (8316) have trillion dollars in assets and are closely associated with XRP Asia.
Recently there were rumors that the company's CEO, Brad Garlinghouse, has entered into a potential partnership with the European Central Bank (ECB). After European Central Bank President Christine Lagarde posted a tweet calling for a "faster digital transition," Garlinghouse retweeted the news without comment. As a result, it is speculated that Ripple's CEO knows the bank's possible plans.
So is XRP worth it and does it really have the potential to continue growing in the future? Many people believe that it is only a matter of time before the global economic system changes over to cryptocurrency. The security and reliability of this technology can already be proven by the cryptocurrency Ripple and such a transition is possible. In this case, a large amount of institutional funds can flow into XRP, making XRP not only a means of payment but also a powerful investment vehicle.
Invest in Ripple and pursue plans and goals together
Earlier this month, Ripple announced that the company would expand into the lending business. The company discussed in its blog post the use of on-demand liquidity (ODL) on RippleNet to offer new lending services to customers. The service aims to simplify the cheaper financing of cross-border payments. The company said the line of credit will allow small and medium-sized businesses to strengthen their businesses so they can compete with larger companies.
Companies that use ODL on RippleNet can purchase XRP with credit. However, companies must expect a certain fee on the borrowed amount.
The company's most recent positions have also attracted attention in all walks of life. According to the job posting, XRP is "looking for skilled software engineers to build a distributed enterprise-level trading platform that will provide real-time access to the crypto market," indicating that the company's commitment to developing new cryptocurrency exchanges may be effective.
Although it is not yet clear what the team is doing and how quickly the platform can launch after the order is posted, investors rushed to the exchange to buy the coins, increasing the price by almost 10 in 40 hours.
In addition to the list of influential partners, Navin Gupta, Managing Director of Ripple South Asia, Middle East and North Africa, announced at the end of the Swell MENA meeting on August 12th that HDFC Bank Limited (HDB), India's largest bank, had joined RippleNet announced.
Gupta said, “I am pleased to announce that HDFC Bank, India's largest private bank, has joined RippleNet. You will become an important partner to India and our team will be very happy to work with you ”.
HDFC is India's largest bank by market capitalization and the largest private lender by asset. While it is not clear whether the XRP token will be used immediately, the bank apparently plans to test Ripple blockchain technology for global payments.
Regarding the launch, a Reuters report in September showed a positive change in the European Commission's view of the cryptocurrency industry. According to this report, the institute stands ready to be at the forefront of financial innovation with the aim of proposing a new legal framework for digital and encrypted payments of assets by 2024.
The European Commission stated: “By 2024, the EU should create a comprehensive framework for integrating distributed ledger technology and crypto assets into the financial sector. It should also address the risks associated with these technologies ”. As a result, technologies like Ripples can benefit from the new European legal framework. However, do the latest developments show that XRP as an investment will bring tremendous returns to its investors in the short term?
Should you buy Ripple or better not?
Should you invest in Ripple or not? We would like to address this question in detail and give the best possible answer to this question!
When trying to predict the next move with XRP or any other cryptocurrency, it is important to understand that certain factors are still not controlled by the market.
The ongoing Covid-19 pandemic is a good example of how an unforeseen event can affect all types of financial assets.
During the general market crash of March 2021, many cryptocurrencies lost their value and XRP was no exception. However, after the cryptocurrency fell to around $ 0.15, the price has since made up its losses and before Covid-19, prices in Ripple rose to $ 0.25.
A recent survey of more than 1,000 members of the XRP Society conducted by XRP found that the vast majority of 72.4 percent believe the price of the XRP course will eventually reach $ 100. Only 5.7 percent of those questioned who can be identified as retailers, while 94.3 percent of those questioned stated that they were long-term investors.
Have you ever asked yourself the question: should I invest in Ripple? To answer that question, we've put together some price predictions so you can make an informed decision.
According to our forecast, XRP is a “not bad, yet risky investment”. It can roughly be said that the coin price will stay at $ 0.0479 for the final days of October 2021. At the same time, the short-term outlook is more optimistic. By the end of 2021, the XRP price is expected to reach $ 0.525.
As of December 2021, we expect the price of the cryptocurrency to be $ 0.3166. The long-term forecast is that XRP will be $ 0.323 by the end of 2021 and $ 0.4030 by the end of 2023, an increase of more than 58 percent from current prices.
Of all the forecasting services, Longforecast.com has the most pessimistic forecast for XRP. The price will hit $ 0.25 in late 2021 and $ 0.08 in 2023.
On the other hand, Credible Crypto, a well-known crypto analyst with 68,900 followers, expects XRP prices to rise sharply. Analysts said in a series of tweets that prices could rise during the next bull market with trading prices between $ 20 and $ 30.
Another well-known cryptanalyst, CryptoWhale, recently spoke on Twitter about the value of XRP: "A lot of people criticize XRP for being too centralized," even though the government wants transparency. Other projects, however, focus on attracting big numbers quickly, new investors put an end to the scam, but XRP has tacitly worked with government agencies to ensure compliance.
The analyst added that once the market adjustment is complete, they are ready to invest more in XRP: “I've been investing in XRP since 2013. I should tell you that there is a reason cryptocurrency is always in the top three to five cryptocurrencies ”.
Can I buy the XRP anonymously?
Anyone who invests in Ripple must be clear that XRP is clearly differentiated from such cryptocurrencies like Bitcoin or Dash and, in contrast to these, ensures complete transparency. This means that transactions can be tracked and so you will not be able to enjoy the anonymity known from Bitcoin or Dash.
Invest in Ripple
XRP certainly offers many advantages that other cryptocurrencies do not offer. The technology is designed to be used and adopted by large financial institutions, which means there is still plenty of room for growth. This, in turn, could work well for prices in XRP going forward, making the Ripple investment look promising.
By most of the predictions above, investing in XRP makes a lot of sense if you are willing to forge a "long-term relationship" with XRP.
While financial institutions are considering implementing more digital technologies and XRP can offer them some of the solutions they need, the prospects for mass adoption in the foreseeable future are still uncertain.
On the other hand, the currency is still relatively cheap compared to other mature players like BTC, ETH or LTC, which makes it a good choice for investors interested in new cryptocurrencies.
But is XRP a safe investment? The truth is that there is no such thing as "safe investments" in financial markets, especially when it comes to cryptocurrencies.
The challenge in choosing a digital coin is that the market is very dynamic and changes will happen instantly. Due to its volatility, it is difficult to predict the price of cryptocurrencies in a few hours and it is even more difficult to make long-term estimates. Before investing in Ripple or buying any other financial asset, it is important to check out the latest technical analysis, expert opinions, and market trends. When deciding whether to add a Ripple investment to your portfolio, we always recommend doing as much research as possible.
If you're looking to invest in Ripple, then consider XRP CFDs!
Is XRP a Good Investment? Should You Invest in XRP?
If you feel that you are not ready to make long term investment commitments but still want to try to take advantage of market volatility, you can do so by trading CFDs on XRP.
CFD trading offers investors the opportunity to try to take advantage of bullish and bearish price movements. You can go long and speculate that the XRP / USD exchange rate will go up, or if you think the price will go down, go short.
Benefits of Trading Ripple at ROInvesting
ROInvesting offers investors the opportunity to get into CFD trading via the Internet.
- You don't have to open a Ripple wallet to invest in electronic currencies and you can trade with relatively little capital.
- ROInvesting is authorized and regulated and provides customers with security systems and excellent customer service. Through years of experience, ROInvesting can offer its customers one of the highest standards in data security on the market, on any Internet-enabled device.
- One account gives you access to over 10,000 markets and 350+ assets.
- If you have any questions, a competent service advisor is available 7 days a week.
- You can control your transactions with any mobile device.
Open a free account with one of the best trading platforms.
FAQ: Investing in Ripple
How do I invest in Ripple - or is it already too late?
Of course, you have the option to invest in Ripple. The cryptocurrency is currently moving upwards in terms of the XRP rate. Therefore, it would be possible for you to try and make a profit.
When does the Ripple price rise?
No good cryptocurrency analyst or specialist can give you an accurate prediction. The cryptocurrencies always move in such a way that strong price fluctuations cannot be foreseen. However, we have already given you a forecast above. Here you can read through and get an approximate idea for the prognosis of XRP!
Is XRP also suitable for a long-term investment?
XRP is very suitable as a long-term investment. The cryptocurrency tries to establish cooperation with the world's largest banks.
The above information is for educational purposes only and should not be considered investment advice. Past performance is not a reliable indicator of future results.