Are you thinking of investing in Ripple this year? If so, you should feel positive because 2021 is slated to be a profitable time for investing in this crypto. Values of Ripple are down and the expectation is that they will escalate and go past Litecoin’s value. So, if you wish to own a diversified portfolio and invest in more than one crypto coin, Ripple may be just what you are looking for in 2021. However, before you jump onto the Ripple bandwagon, make sure you know what you will be getting into. Ripple is more than a crypto; it is a type of payment system designed to streamline international or global cross-border payments.
Can Ripple Be A Good Cryptocurrency Investment?
Ripple is essentially a technology acting as a crypto coin and a payment network rolled into one for facilitating financial transactions. Ripple was founded by Jed McCaleb and Chris Larsen and introduced in 2012. Ripple was designed to provide solutions to traditional payment systems that were ridden with drawbacks like unreliability, high costs, and time-consuming. Ripple offers a reliable platform for transactions that are instant, secure, and almost free and it can facilitate transfers in all types of currencies, including cryptos.
Following its release, Ripple Labs found its way into the list of 50 smartest new companies according to an MIT research. From 2013, businesses have been showing an interest in Ripple and by 5 years, 100 and more financial institutions adopted it. Ripple has been embraced by MoneyGram, American Express, and there is a rumor that Western Union and VISA will soon join the club.
- It is argued by experts that Ripple has the ability to replace the original secure and standardized, global payment system SWIFT. It is predicted to have a good run making it a lucrative investment option for new traders.
- Secondly, Ripple is affordable and much cheaper compared to what it was in 2018. Even for less than $100 you can own quite a few coins.
- In 2018, Ripple had reached an all-time high but analysts are confident that prices will shoot up to beyond $1000 in the next decade. With greater mainstream adoption and higher prices Ripple comes across as a profit-churning investment with low risks.
- Ripple turns out to be the solution for many big financial houses by accelerating capital flow. Even small business owners can use the Ripple seamlessly. It has an impressive market cap of $25.9 billion, coming in third after Bitcoin and Ether. Since it has a big market cap, it indicates investor confidence; this makes Ripple far more resistant to market fluctuations.
Ripple is a finite resource whose value is likely to go up further because scarcity will escalate prices. Ripple can therefore be a good investment option provided you invest in it smartly. There is a growing interest in Ripple Net membership that indicates that this crypto coin has a bright future. XRP satisfies its utility functions completely making Ripple right for investment in 2021. Investing in Ripple is easy as choosing a sum that you wish to convert into Ripple and then only clicking a key. Movement of funds anywhere in the world has become far more straightforward and this is one of the strongest reasons to buy Ripple.