Predicting the price of cryptocurrencies can be extremely difficult, especially since we are in such an early stage of them becoming mainstream assets. One of the top crypto-currencies out there is XRP, which has soared to incredible heights this year and has held on to much of its gains, despite broader market volatility. While trying to predict prices can be dangerous, if you are looking to buy XRP or just want to stay informed on its progress as an asset, here’s what you need to know about XRP price prediction and why it could make sense as an investment at current levels.
How to trade XRP
XRP can be traded on multiple exchanges using a variety of cryptocurrency pairs. You have to have BTC to trade on Poloniex and Bittrex, though. Bitfinex and Kraken both require a wire transfer of dollars to trade XRP. The main difference between XRP and other cryptos is that it’s primarily being bought and held as a speculative investment. While there are certainly a few companies that use XRP to facilitate international transfers, the majority of people buying XRP are betting that the price will go up.
Should You Invest In Ripple
It is not a bad idea to invest in Ripple, but there are things you should do first. Before making a purchase, you need to ensure that you are willing to sell the investment if it happens to go down in value. If you are willing to keep it for the long term, then you should ensure that you know what you are getting into. One thing to note is the fact that Ripple is not like the other cryptocurrencies out there, and has its own unique advantages and disadvantages. There are lots of options for people who want to get rich quick without much effort, but Ripple is not one of them.
Why is ripple (XRP) a good investment
Instead of putting your money in savings accounts or gold, you could invest it in Ripple (XRP). On the surface, it might not look like a very attractive investment considering how volatile it has been. In fact, it has lost more than half of its value in the last couple of months, but this is not enough to put off the serious investors. That’s simply because it is already the third largest cryptocurrency (transaction volume) in the world and is valued at $0.20. What’s more, Ripple has already made partnerships and deals with some major banks and it will soon be processing 75% of all global payments. With this kind of future ahead of it, it is bound to get back to its December value of $3.00 by the end of 2018. What’s more, the long term outlook for Ripple is even bright, assuming that it can solve the problem of scalability that it currently faces.
Conclusion
XRP is one of the most interesting cryptocurrencies out there, as it is one of the few cryptocurrencies that has not just a unique purpose but also a unique use case. It is being used in real-life scenarios, and it has been adopted by many companies and banks.
