There is no denying, XRP has been climbing up the crypto charts over the last couple of years. That being the case, it has been a target for many as a profitable investment plan. So, are you interested in Ripple XRP and probably wondering if it’s a good investment for you as well in 2019?
If that’s the case, then you are in the right place. In this article, I will go over a few facts about this cryptocurrency as well as the things that set it apart from the other cryptos in the market. But before we get far, it is important that you as a crypto trader only investment in what you can afford to lose.
Crypto markets can be very volatile. Therefore, here is what I gathered through my research about this cryptocurrency. Let’s get to it and find out if it’s worth your time and money. Shall we get started?
What is Ripple-(XRP)?
Ripple is both a digital currency (XRP) and a payment platform that operates under open-source protocols. In order to facilitate faster cross-border transactions, XRP uses blockchain technology. In that, the cross-border payment could be processed in three seconds or less.
The platform allows its users to be able to transfer their money from one currency to the other in a matter of seconds just about anywhere in the world. Therefore, with XRP, it eliminates the need for traditional systems such as SWIFT and Western Union.
But before we move ahead, here are a few terms that you need to take into consideration to avoid any confusions:
XRP is the name given to the digital currency that is used to facilitate the transactions on the Ripple network. XRP acts as a bridge between two transferrable currencies. In some cases, it acts as a great source of liquidity.
This is an American Tech Company that is responsible for the development of the Ripple network and the payment protocols as well.
Ripple Network: This is a vast network of payment providers across the world. It is a network that connects different digital asset exchanges, banks, payment providers, as well as corporate entities. This is a network that accepts both cryptos and fiat currencies.
What are the Benefits of XRP?
XRP comes with a couple of benefits which include but is not limited to:
High Transaction Speed
XRP without a doubt beats most cryptos in the market in terms of processing speed of the cross border transactions. XRP guarantees you of a speed of 3 seconds processing per transaction.
The XRP coin operates on a decentralized blockchain network. This is to mean that, potential investors are guaranteed of selling and buying XRP with the company’s security systems. This is unlike other cryptos that are either sold or bought through the central exchanges. This is something that could leave the investor at great risk of loss if the systems of these central exchanges crash.
There is no Mining
Unlike other cryptos that we have in the market today, XRP doesn’t require mining. Instead, the company has created a total of 100 billion XRP coins.
Lower Transaction Fees
The best thing about the XRP coin is that it comes with low transaction costs as compared to other cryptos. That is because XRP also works as a payment protocol.
Ripple provides a secure network that allows the users to operate on. That is because the company is capable of tracking any sort of necessary information on the network. This includes even the account balances of the users.
Which is the greatest height that XRP can reach?
If you are planning on investing in XRP, it is important that you know the highest price that it could potentially get to. Can it get to $300 or even higher? Crypto experts believe that the only limiting factor for the increase in the price of XRP in escrow from Ripple. That is because they sell XRP only on a monthly basis.
However, once this escrow is gone and all the XRP coins are sold, the price could get to more than $100. However, this is something that could take close to 5 or 7 years. If sometime in the future Ripple becomes the default payment method for banks, the price of Ripple could get to $20 very soon.
As times goes by and XRP gets the attention of more investors, it could become one of the less volatile cryptocurrencies. Currently, it is said that Ripple could get to the price of $2 which sounds like a great time for investors to jump on to this train.
Is XRP Really Worth Investing?
Now that you have a brief idea of the potential price growth of XRP, do you still think that it is a good investment coin? Now, that there are more and more companies that are planning on joining the Ripple Network, we can hope that in 2019 XRP will be in a position to touch the $7 mark.
Besides that, XRP is a crypto that you should consider investing in as it helps to complete the cross-border transactions in a matter of seconds.
The crypto experts believe that in 2019, XRP might get to soaring heights as there are many large financial institutions, banks and credit card companies that are joining the Ripple network.
There is a great expansion of the Ripple ecosystem which means that it is a great investment route. You could buy your XRP coins now at $1 and in the next few years, you might get large profits.
As we have seen from this article, if Ripple is in a position to add more banks to its ecosystem, XRP will be easily available to the everyday person. This is something that would mean a lot to the future of XRP in the crypto market. It features great technology and a highly professional team. I really can’t wait to see how everything plays out for XRP this year.