Like every other crypto, the price of ripple has significantly undergone several variations. These variations range from market forces to whales dumping and pumping. While some institutions and investors take advantages of these markets (bear and bull), several still doubt the genuity of ripple and the crypto community as a whole.
Ripple has been in existence over the years, with an all-time-high achieved since 2018. Ripple, unlike other crypto coins, is adopted by financial institutions and banks. XRP, a real-time gross settlement system, is a remittance network and currency exchange that independent buyers and investors validate. The transfer time for XRP is instant, and ripple has XRP as the currency being traded.
XRP can be traded with several trading pairs with USDT, USD, ETH, BTC and others. Instead of the high transaction fees or the wait time emanating from banks, XRP has served as the breakthrough every hodler and investors have been expecting. The currency, XRP, cannot be mined because it contains a finite number of coins. Hence, instead of having a blockchain, it uses the Hash tree.
In 2018, XRP attained an ATH of $2.77, increasing the investment rate and use case. It’s been 1238 days since the ATH causing questions of why should I buy ripple?”
As mentioned earlier, the price history of ripple is an excellent pointer to the main reason you should buy ripple as an investor. The price of ripple currently is more than pocket friendly, and with little bucks, you can accumulate as many ripples as possible. Several analysts and crypto traders have had several predictions concerning ripple, and one of them is for ripple to hit the $1000 mark by the year 2030.
Ripple is not just a Cryptocurrency but one of the few that have the capacity of serving as a means of financial redistribution amongst banks and major financial institutions. However, its usage extends to using it for exchange and make payments between small scale investors.
Unlike other cryptos, ripple is volatile, and the price skyrockets depending on the factors in the market at the time. This could be an added advantage for entrepreneurs who trade crypto daily, especially those conversant with leverage trading. All you need is a sound technical analysis, and you are good to go.
So, if you are still contemplating whether or not you need to invest in ripple or why you should buy ripple, you probably need more than convincing (using facts).
There have been several instances of skepticism as to what will come out of ripple in the next coming years. It should be noted that, while the price of ripple is dependent on so many factors, its market supply is very much one of the assurances that the price of ripple will someday surpass its users’ broad imaginations. The price of ripple is indeed volatile, but it’s also true that ripple’s price will not always remain at the bottom. In other, for you not to miss out on these opportunities, it’s advisable to buy ripple now that its price is affordable. The same way several missed out on Bitcoin, thinking it would remain a shitcoin forever shouldn’t repeat itself with ripple.
Buy and holding a crypto coin or trading the cryptocurrency depends solely on your discretion. While some school of thought believes holding is more profitable than trading, others think it’s best you trade and turn one ripple to multiple. Either way, you are solely responsible for whatever happens to the ripple. Trading or holding does not mean your ripple will diminish or increase if you don’t do any of them. So, you either hodl or trade.
On the contrary, it’s possible to do both. You can decide to split your ripple holding into two (portfolio diversification). While you trade one half, you hodl the other half in a separate wallet for the long-term as a form of investment. At the same time, you earn daily from trading the first half, the other half independently on the first increases as the price of ripple increases. In this scenario, it’s a win-win. However, it might not always be win for those actively trading with ripple.
The price of ripple over the years has been steady, with several signs indicating ripple as an excellent investment. The price is set to skyrocket after this current dip setting a new all-time high.
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