Is Ripple(XRP) a good investment

What Is XRP

There is a significant difference between XRP and Ripple. However, many people tend to use the two interchangeably when discussing XRP. Nonetheless, Ripple Labs Inc. is a company that is responsible for creating the cryptocurrency XRP. Chris Larsen and Jed McCaleb co-founded Ripple in 2012. Ripple is a universal payment protocol service that allows secure, easy, and quick currency exchanges for the different users in the online community. Afterward, Ripple created its cryptocurrency, XRP. The purpose of the creation of XRP was to ensure that users could make an investment with a minimum delay.

Moreover, the transactions by users were to be of nominal fees. Due to this reason, Ripple’s XRP has attracted many giant banks globally. We may also state that XRP is widespread around the globe. Generally, XRP is run by more than 150 validators worldwide. Moreover, XRP is also stable and eco-friendly.

Therefore, XRP is generally a digital asset whose primary use is payments. XRP usually settles its transactions in as little as 3-5 seconds. You can easily send XRP without the need for a central intermediary. Therefore, this makes XRP a suitable instrument that you may use to bridge two currencies efficiently and quickly. XRP Ledger and XRP are more scalable, faster, and less costly than other digital assets. Ripple uses the XRP ledger and XRP to fuel innovative technology across payments medium. Currently, Ripple focuses on inventing technology that will aid in unleashing XRP’s new utility and positively change universal payments. RippleNet customers have also used XRP to source liquidity in their transactions. Generally, we may say that XRP Ledger and XRP are the best choice to make an investment with its open-source technology. Moreover, everyone can build on XRP.

Is XRP a good investment

XRP Coin’s Price History

January 2015 – December 2015

On the opening date of January, XRP’s value was $0.024455. However, the price depreciated in the next three months to $0.014286, $0.012992, $0.007772. Nonetheless, the price appreciated in May, June, and July to $0.008035, $0.008276, and $0.011317, respectively. The prices continued depreciating until December. The new prices for August, September, October, November, and December were $0.008438, $0.007884, $0.005518, $0.004685, and $0.004202, respectively. The maximum price XRP attained in that year was $0.024455 in January. On the other hand, the lower price was $0.004041 in December.

January 2016 – December 2016

In January 2016, XRP’s price had improved to $0.006040. The value appreciated in February and March to $0.006398 and $0.007923. However, XRP’s value depreciated in April to $0.007391. The price continued to decline in the next two months. In May, XRP was valued at $0.006812, while in June, XRP’s price was $0.005701. In July, XRP appreciated $0.006651, only to depreciate in August to $0.005942. XRP’s value increased in the next two months. In September, the XRP value was $0.006013, and it grew to $0.008839 in October. Conversely, XRP’s value depreciated in November and December, valuing $0.008197 and $0.006723, respectively. In this period, XRP’s highest price was $0.009485 in October. On the other hand, XRP’s lowest cost was $0.005011 in January. You shouldn’t make XRP one of your investment choice at that moment.

January 2017 – December 2017

On January 1st, the XRP value was $0.006523. However, the price depreciated in both February and March to $0.006311 and $0.005525. XRP’s value then appreciated in April, May, June, and July to $0.021743, $0.05158, $0.243946, and $0.262855. The price depreciated in August to $0.168024. However, the price appreciated to $0.255803 in September, only to decrease to $0.197622 in October. The price improved to $0.217911 in November but increased to $0.250352 in December. The highest price that XRP attained in this period was $2.85453. On the other hand, the lowest price was $0.005427 in March.

January 2018 – December 2018

XRP’s value started the year on a high note, valued at $2.29602. However, the price depreciated to April. The February, March, and April prices were $1.16088, $0.904131, and $0.513854. The prices slightly appreciated in May to $0.838355. After that, however, the prices started depreciating. XRP’s prices in June, July, August, and September were $0.612893, $0.465944, $0.435562, and $0.335313. However, the value appreciated in October to $0.583511, only for it to depreciate in November and December to $0.44862 and $0.362557, respectively. Throughout the year, XRP’s highest price was $3.84194 in January. On the other hand, the lowest price was $0.253983 in August.

January 2019 – December 2019

The year started with XRP’s value in the market being $0.352512. However, the price depreciated in February to $0.310839 only to appreciate slightly to $0.315066 in March. The value depreciated to $0.309195 in April but appreciated $0.30949 in May. The price increased to $0.438711 in June but declined in four months. XRP’s value in July, August, September, and October was $0.3959, $0.320734, $0.259171, and $0.256213 respectively. Nonetheless, XRP’s value appreciated in November to $0.296389, only for it to depreciate in December to $0.226466. In this period, XRP’s highest value was $0.505467 in June. XRP experienced the lowest value of $0.178485 in December.

January 2020 – December 2020

In the first month of 2020, XRP’s value was $0.192912. However, the price appreciated in February to $0.239191, only to depreciate slightly to $0.231105 in March. The price declined further to $0.174315 in April, only to slightly improve to $0.212858 in May. XRP’s value depreciated in June and July, where its value was $0.202834 and $0.17575, respectively. Nevertheless, XRP’s price appreciated in August and September to $0.258904 and $0.281612, respectively. The prices depreciated in October and November to $0.241969 and $0.239739, respectively. Nonetheless, XRP’s price skyrocketed to $0.664515 in December. Traders could gain a great profit if they had plan on investment of XRP. Through this period, XRP’s highest cost was $0.768019 in November. On the other hand, the lowest value was $0.115093 in March.

January 2021 – December 2021

In the first month of 2021, XRP’s price was $0.219845. However, the price appreciated in February to $0.492512, only to depreciate to $0.415109 in March. Nonetheless, the price rose in April and May to $0.573959 and $1.598409, respectively. However, the cost depreciated in June and July to $1.042102 and $0.704785, respectively. XRP’s value appreciated in the next two months to $0.745941 and $1.186915. The price then depreciated to $0.953764 in October. However, the price rose to $1.113153 in November, only to decline to $0.99819 in December. The highest price XRP attained in this period was $1.964997 in April. Conversely, the lowest price in the period was $0.215816 in January.

XRP Price History Summary

Certainly, based on XRP price history, we can understand the coins history price trajectory. Therefore, the chart below is the detailed XRP history price from 2015-2020.

YearMaximum PriceMinimum Price
2015$0.024455$0.004041
2016$0.009485$0.005011
2017$2.85453$0.005427
2018$3.84194$0.253983
2019$0.505467$0.178485
2020$0.768019$0.115093
2021$1.964997$0.215816

Comparison Between XRP And Other Cryptocurrencies

Binance Coin vs. XRP

Binance coin is a cryptocurrency whose main purpose is paying for goods and services. On the other hand, XRP is a repatriation technology created mainly for financial networks and banks.

XRPBinance
A block time ranges from 3-5 seconds.A one-second block time.
The maximum supply of 100 billion coins.The maximum supply of 200 million coins.
It has a higher processing speed of 1000 times in a second.It has a processing speed of 100 transactions in one second.

XRP vs. Bitcoin

Both Bitcoin and XRP offer different services. Therefore, they do not act as direct competitors. Generally, users use XRP to carry out cross-border transactions. XRP allows users to carry out their transactions with higher speed and lower costs than fiat currency during various investment. On the other hand, Bitcoin enables people globally to carry out their transactions without their jurisdictions.

The following chart indicates the vital differences between Bitcoin and XRP.

XRPBitcoin
It is privately owned.It is owned by the public. There is no specific ownership.
There is no block size in XRP.The block size is 1 megabyte.
Transactions per second are above 1000.Transactions per second -10
Maximum supply of 100 billion coins.Maximum supply of 21 million coins.
There is no mining capability.There is mining capability.
A transaction speed of 3-5 seconds.A transaction speed of 600 seconds.
The smallest unit is Drop.The smallest unit is Satoshi.
Has an energy consumption of 474,000 kWh.Has an energy consumption of 57.09 billion kWh.

XRP vs. Cardano

Both XRP and Cardano are different platforms that are used for different platforms. Cardano is mainly known as a blockchain. On the other hand XRP, is famous for payments purposes. XRP possesses a lesser transaction time as compared to Cardano. Compared to many cryptocurrencies, XRP is the fastest. Cardano has approximately 2486 hosts, while there are more than 150 banks connected to XRP.

XRPCardano
It runs on MacOS, Linux and Windows.Runs on cross-platform.
XRP is written in the C++ programming language.Cardano is written in the Haskell language.
The headquarters are located in San Francisco, USA.The headquarters are located in Zug, Switzerland.

What Do Other People Think Of XRP

Similar to other cryptocurrencies, XRP is a very volatile investment. In simpler terms, investing in XRP may lead one to enjoy high profits. However, there are higher chances that you may also experience high losses. Moreover, cryptocurrencies are still new in the market. Therefore, there are high chances that specific cryptocurrencies may collapse, and those will skyrocket in value. Furthermore, many cryptocurrencies have failed significantly in the past. Therefore, there are also chances that different cryptocurrencies will collapse soon, and XRP is not exempt.

People prefer XRP because it is the cheapest among the oldest cryptocurrencies. In addition, people argue that XRP is one of the prestigious coins today. In addition, compared to XRP ATH of $3.84, people view XRP’s current price as a discount. Furthermore, many people in the community see XRP surpassing the $3.84 price in a new future.  

Frequently Asked Questions

Where To Buy XRP

Various exchanges offer users or investors the chance to buy XRP. Some of these exchanges are GateHub, Bitstamp and Kraken. However, Binance is the best place for investors to buy, sell or hold XRP quickly and easily. Therefore, you need to sign up to buy or sell XRP.

If you want to know more, check out this article: where and how to buy xrp

How To Mine XRP

XRP Ripple coins are not subject to mining like other coins. However, Ripple Labs can mine the coins. Therefore, XRP gives users limited opportunities in mining, unlike other cryptocurrencies.

Should I Buy XRP

Currently, there is uncertainty in XRP’s future value due to the continuing SEC lawsuit. Moreover, cryptocurrencies are generally volatile assets. As a result, cryptocurrencies are risky investments compared to other assets. Therefore, you should do comprehensive research on XRP before investing. Moreover, invest what you can afford to lose. However, because all predictions are optimistic about increasing in XRP’s value, we may advise you to invest in XRP. Moreover, the coin is on the lower side currently. Therefore, there is room for its value to increase significantly.

What Is The Future Trend Of XRP

XRP does not usually experience high volatility as compared to other cryptocurrencies. However, the SEC lawsuit is significantly affecting XRP. However, many investment agencies predict that XRP’s value will continue increasing despite the lawsuit. XRP will experience highs and lows due to the volatility of cryptocurrencies. Therefore, we have analyzed and created a summary of the expected trend of XRP in the next few years. According to the summary, you may conclude that many hope XRP’s value is significantly appreciates. These predictions are as per PricePrediction.Net.

YearMaximum PriceMinimum Price
2022$1.41$1.13
2023$1.99$1.73
2024$3.03$2.46
2025$4.31$3.68

Summary

XRP is a cryptocurrency owned by Ripple. The primary purpose of XRP is to enhance digital payment across borders. In addition, XRP ranks as one of the most valuable tokens among cryptocurrencies. The lawsuit against XRP may, however, affect the coin significantly. However, investment agencies have been predicting in favor of the currency. According to different investment agencies, XRP’s price may shoot rapidly and highly. For example, Smartereum forecasts that by 2030, XRP may value at as high as $200-$300.

On the other hand, CoinSwitch forecasts that by 2030, XRP’s value will be $17. As a result, predictions are not always similar. In addition, they may also be completely wrong even by looking at the differences presented by the two investment agencies. In addition, as with other cryptocurrencies, XRP may also be highly volatile. Therefore, always carry out comprehensive research before investing.