Welcome back to Make Money Online. Today, we’ll be looking at the prospects of ripple’s XRP can XRP make you a millionaire. Watch this video till the end to find out. Many people are posing questions about the pros and cons of investing in RIPPLE, people ask, is it safe? Is it good? Will it succeed? These are common questions when potential investors are seeking potentially viable crypto to add to their investment portfolio.
XRP might just be what you need. XRP is not just another form of cryptocurrencies like Bitcoin or Ethereum. It’s a new payment system designed to impact international and cross-border payments around the world.
It offers something entirely different from every other type of digital currency. It presents a solid investment opportunity. It is both a technology that acts as a cryptocurrency and a digital payment network for financial transactions was co-founded by computer programmers Chris Larsen and Jeff McCaleb and released in 2012 through their company Ripple Labs Inc.
The traditional systems that regulate financial payments are often complicated and disorganized, which makes payments costly, time-consuming, and unreliable. XRP offers an easier alternative platform that can handle and facilitate cross-border payments that are one hundred percent secure, instant, and practically free.
Moreover, RIPPLE can facilitate payments in every type of money, including cryptocurrencies like other cryptocurrencies that offer traders and investors a way to make online transactions without having to go through a financial body. Ripple was designed to make it easier for those very same centralized financial bodies to make payments themselves.
This may seem counterproductive when many traders believe that a cryptocurrency is the biggest selling point is its freedom from external companies. However, crypto experts are increasingly claiming that this could be a major reason for its success. The ripple XRP is not entirely free from the volatility commonly identified with all cryptocurrencies in terms of unpredictability and price fluctuations.
It is believed that its unique market position may aid survival in the crypto market. Just a year after it released XRP, Ripple Labs made it to the list of the top 50 smartest new companies by researchers at MIT, a university that in 2013, banks and other financial organizations began showing interest in using Ripple’s payment system as of twenty eighteen. About one hundred financial institutes adopted some of Ripple’s technology.
The company’s Zippi Ledger is now in use across 40 countries from six different continents of the world. Some of the biggest name adopters of RIPPLE include American Express, Santander and money transfer company MoneyGram. It is rumored that Visa and Western Union are looking to take a leap of faith, and Ripple’s payment system is set to become the number one go-to network for secure, standardized and reliable global payments as envisioned by its founders.
What are the benefits of investing in RIPPLE, lots of crypto analysts and speculators think RIPPLE has a big future, making it an attractive option for new and established traders for several reasons. One, it’s affordable is currently trading at about eight point five dollars per coin. In other words, it’s cheap compared to its previous high level.
In twenty eighteen at three-point thirty-four dollars, you can pick up a large amount of RIPPLE for less than a few hundred dollars, while an amount as low as fifty dollars can get you more than one hundred XRP. Some market analysts believe it will push beyond the 1000 dollar barrier within the next 10 years.
Other predictions are far more optimistic. Therefore, given its low price and increasing appeal, it seems a good bargain to buy XRP while it’s still a relatively low-risk option, with the potential for a big return on investment, too, it solves problems and creates opportunities. Rupel solves problems for large financial institutions.
It also speeds up the flow of capital, which is excellent for the economy. Small business owners can also find effective use and RIPPLE if it becomes widely adopted, the Ripple platform will provide millions of sole traders and entrepreneurs with direct access to the global economy.
Three Ripple’s market cap with its current market cap of about twenty-five point nine dollars billion, RIPPLE is the world’s third-biggest cryptocurrency. A large market cap is a strong sign of investor confidence and makes the ascent more resistant to volatile market cycles or dips.
For repeal isn’t just another cryptocurrency, XRP is more than just a cryptocurrency or technology. It’s backed by a fully-fledged company, Ripple Labs Inc., which has over 500 full-time employees. They have a vast number of people working there, including public relations and marketing specialists who promote the technology to banks, investors, new users and the general public.
Problems of investing in ripple-like any investment, putting your money into Ripple isn’t risk-free. Here are some things you should know about the risks of investing in RIPPLE. One, there won’t be any more new RIPPLE, there will only ever be twenty-one million Bitcoins, while the amount of Ethereum is limitless, the production and mining will reduce drastically over time. This limited supply could push up demand in the future, leading to a big price and profit increase for early investors.
Ripple is different. All the XRP coins are pretty mind and already in circulation to Ripple owns a massive share of the XRP, the governing board of RIPPLE, consisting of the chairman, the CEO and other senior board members hold a significant amount of XRP. This poor allocation has caused so much XRP to be concentrated in just a few hands. There’s a chance the price may be overinflated.
Three, it’s not decentralized, four blocks in purist’s XRP isn’t a real cryptocurrency, many argue that it goes against the principles of decentralization and economic autonomy, unlike Bitcoin, which are mine, and then exchange anonymously between users. RIPPLE was specially designed for the banking and finance industry. Its primary purpose is to solve issues within the banking industry rather than revolutionize the way ordinary people exchange or store value. In short, this forms an advantage for XRP, but it can turn out to be it’s main. For strong rivalry, Ripple’s biggest rival is Swift, currently the largest international payment network and the preferred choice of some 11000 financial institutions, people will need to convince the usually stoic banking sector that its payment protocols offer a better, quicker and safer solution than swift XRP predictions.
The year 2020 is over, but let’s take a look at some of the key price predictions for the remainder of 2020, every cryptocurrency has suffered at some point. The pandemic has been a turbulent time for cryptocurrency in general and RIPPLE XRP specifically. When news of global restrictions first broke in March, widespread investor uncertainty caused the market to fall.
Suddenly, the price of Bitcoin fell from nine thousand dollars to four thousand dollars in less than a week, while RIPPLE XRP plummeted from O point three three six dollars on February 14th to about one three eight on March 12th. While many cryptocurrencies have come back with a surge over the last seven months, with their prices recovering to relatively higher levels, Rypple has remained relatively bearish ever since.
This chart shows that the price of Apple has never been very high, which has made it attractive to many prospective traders in the past. However, the price has been volatile throughout 2020. Although the price of Apple XRP seemed to recover in August, its subsequent decline has left many crypto experts uncertain about its future.
According to the reports, the number of mentions which XRP received on Twitter fell by 16 percent in the first quarter and might not sound particularly serious. But the performance of many cryptos has been closely linked to their popularity on social media and in more traditional media outlets.
If investors and traders have been losing interest, it could signal a bleak future for the crypto. But it is a 50 50 chance on both ends, as more people have invested in stacking up. Large amounts of XRP is near the end of 2020 in anticipation of a favourable year in 2021.
Many believe that if XRP doesn’t make it to two dollars towards the end of the first quarter in 2021, there’s no chance that it can ever make it to ten dollars by the third quarter in the same year. These are all speculations by the way, but we need to focus more on the long term and focus on what we do not yet see.
What would it cost you to wait a few years to earn much your investment in XRP time, but it will be worth the wait. What are crypto experts are forecasting for RIPPLE XRP in twenty twenty-one? Faced with these pessimistic statistics, what should we expect from XRP and twenty twenty-one?
Some investors don’t believe that the bearish trend is anything to worry about. An analyst on trading view believes that the price of Rupel XRP is currently following a wave pattern, which would mean that once the price hits point twenty-one dollars, it will start to climb.
We can see this theory illustrated in Ronan’s graph here. This chart shows a similar situation to BTC USD as seen on November 11th, two thousand nineteen, the top trend has broken out of its established position, instead of starting a strong momentum and a large percentage level slightly above the downtrend.
The ranges above a downtrend could act as a sort of support for an upward boost towards a fairly large percentage of gains. This price was maintained for a while as the volatility subsided and the trend line broke, thereby returning to the descending channel.
The analyst is still holding out for a percentage rise in the XRP trend as we proceed into 2021. It shows a repeated fractal from the state of BTC from last year to XRP and 2020, though similar.
It’s not identical. It further cements the artefact. The BTC and XRP are closely related to a common project. We’re not sure how the latest news of a sex lawsuit against Ripple will affect the integrity of XRP in the long term, but what is more certain is that it’s going to dip further as this wave blows. All investors might consider laying low while waiting for this to blow over and anticipate the recovery of the cryptocurrency. Many more will rush to buy into the dip.
Read More: XRP Analysis & XRP Price Prediction