After the highly anticipated Bitcoin halving, as newcomers enter the cryptocurrency market, many people are looking for alternative cryptocurrencies where they can invest their money. The question is, Ripple worth investing in 2020 has been raised throughout the space.
Today, there are many investment opportunities: commodities, stocks, options, and cryptocurrency markets. If you want to choose the best option among cryptocurrencies, this is the right place. This is what we want to introduce: Why invest in Ripple (XRP)? Is it profitable to invest in Ripple cryptocurrency? Is Ripple worth investing? What Is it the best time to start investing in Ripple? Invest in Ripple or Bitcoin? Is XRP a good investment, and who has invested in Ripple? All these questions and much more described in the article.
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Why buy Ripple? About Ripple
Ripple coin logo
Ripple is a network of institutional payment providers, such as banks and money service companies, who use solutions developed by Ripple to provide a frictionless experience to send money globally. It contrasts with other cryptographic forms of money. For example, Bitcoin was planned fundamentally as an advanced mechanism of trade. Ripple (XRP) is a permanent framework for repayment and trading cash. It was organized and created by Ripple Labs using their local digital currency, XRP, to process exchanges.
Ripple uses hash trees to aggregate information and processes the information on its approved servers. XRP can’t be mined like other cryptocurrencies. When Ripple was launched, all 100 billion XRP tokens had been delivered and distributed. At present, XRP is one of the largest digital currencies in terms of market value, and it is widely used all around the world by financial institutions.
Ripple’s framework allows any individual or merchant to transfer on a platform that allows customers to create their gateway. Registered users can be approved as brokers for trading, storing liquidity, etc. Ripple proved the safety and reliability of the technology. The establishment of Ripple is and will be a gateway to institutional capital inflows.
Ripple is an official association and has won the trust of many banks. The banks have increased their investment in XRP among all the assets it holds and uses. Ripple controls RippleNet and owns an astounding 62% of all existing XRP coins. This naturally puts pressure on XRP financial experts. Ripple’s response was to lock 55 billion coins.
Ripple brings cheaper and faster transactions compared to competitors. The company has a fast exchange framework, which allows customers to complete the exchange within three minutes. Fast transactions can save up to 40%-70% of fees. The Ripple (XRP) product is extremely flexible and can be adjusted according to market patterns. If Ripple proceeds on its present way, it will get one of the first cryptos to increase general acknowledgment.
Partnerships. Who has invested in Ripple?
Who is the one who invested in Ripple? Banks is the short answer. Ripple has built up its network with the business community, with banks, financial institutions, and professionals. Since its inception, Ripple has worked hard to protect this huge network of industry professionals. These companies are reluctant to use Ripple’s advanced blockchain system. The network enables banks to send money to the world in a matter of seconds, thus enjoying a frictionless experience. Today, the Ripple network includes some of the most well-known institutions in the industry. So far, these are some of the major milestones in the expansion of the Ripple network:
- Bank of America
BOA announced a partnership with Ripple in 2016. It turns out that in the months before the announcement, the bank had been secretly testing the company’s technology to improve its interbank infrastructure;
- SBI Holdings
Back In 2016, SBI Holdings and Ripple signed an agreement to integrate the bank into RippleNet. Bank executives see this move as a way to simplify remittances and instant cross-border payments. Not surprisingly, since this concept emerged, 47 banks have signed the project.
- Standard Chartered Bank
In 2016, a team of Standard Charter Bank and other investors jointly invested USD 55 million to further develop Ripple technology. This investment brings Ripple’s total B round of financing to $93 million.
- Royal Bank of Canada
The Royal Bank of Canada unexpectedly released a detailed report entitled “Imagine 2025”, which details their test of Ripple technology. The report specifically pointed out that Ripple can reduce the average bank cost per payment by 46%. In addition, the RBC report pointed out that the settlement time for transactions processed through Ripple is only 3-5 seconds. This is a huge improvement compared to the current system that takes 2-3 days on average.
- Santander and American Express
Ripple cooperated with the credit card company American Express and the large bank Santander. The strategic partnership aims to further simplify the cross-border payment system. It is worth noting that the news helped to boost XRP prices at that time. Specifically, after the press release, the market value of XRP soared by more than 35%.
The list is far from complete, a lot of banks joining Ripple. All of them are investing significant amounts in the infrastructure and development of the company.
How safe is XRP investment?
When people invest in Ripple, they are basically buying XRP. This means that they believe that in the future, banks and institutions will use XRP to transfer value, so they will buy XRP and increase its price.
Will the value of XRP increase? The question is whether most banks and payment providers choose to use it instead of the current infrastructure. Ripple planned as a private framework, so it is significantly safer than Bitcoin. The exchanges are a lot faster and less expensive. Ripple has begun as an official association, as its primary center to be utilized by banks. Solutions based on Ripple, allow trading any cash or commodity(like gold) with an insignificant commission. Organizations recognize Ripple’s advantages among competitors. These organizations are confirmation of trust that Ripple gets.
A small price for one XRP token ($0.24) makes investing in Ripple affordable for anybody with a little budget. Ripple is ranked 3rd by cryptocurrency market cap.
|Current XRP Price||$0.243592|
|Market Rank||№ 3|
|Market Cap||$10,924,817,516 USD|
|24-Hour Volume||$1,828,555,014 USD|
|Circulating Supply / Total Supply||44,848,773,395 XRP / 99,990,976,125 XRP|
By that, you see yourself, is XRP a good investment. If you make sure of its potential, you can spend any sums on it. You can start investing with any amount, even as low as couple coins. In case the price goes dipper, you can always add more to tokens to portfolio and cost average it.
Ripple or Bitcoin, where to invest?
The question of where better to invest in XRP or BTC is a good one. Bitcoin is an open blockchain record that stands as advanced money, used for goods, or any other exchange. Bitcoin, the system, is principally known for its bitcoin digital money (regularly alluded to as “bitcoin” or by the contraction BTC).
The bitcoin arrangement depends on the blockchain idea, an open record of confirmed exchanges, and record-keeping. Miners verify transactions and add them to the bitcoin blockchain, which fills in as a record of all movement over the system. In return for their time and the processing power, important to approve the record along these lines, miners compensated with BTC upon effectively accepting certain amounts of exchanges.
XRP, then again, is an innovation that is mostly known for its computerized installment system and convention. Besides the digital money XRP, Ripple is better known as a resource trade and settlement framework that works increasingly like SWIFT — providing help for worldwide cash and security moves utilized by a system of banks and budget institutions.
Sending an XRP is very fast, the system accepts transfer in four seconds when Bitcoin transfer time is over thirty minutes. Additionally, XRP can deal with 1,500 exchanges for each second while Bitcoin can deal with just seven. So the upside of utilizing XRP as a type of payment is pretty apparent.
Both coins and technologies are valuable in real-world solutions. So it would be wise to invest in Ripple and Bitcoin. In the midterm and longterm run, the benefits of such investments are great. The charts illustrated below, you can see the price dynamics of XRP/BTC and XRP/USD pairs, on a logarithmic scale:
Ripple started to climb to the upside in both pairs, XRP/BTC, and XRP/USD, after a long decline in value. From history, we can expect a good rally once the bullish momentum kicks in.
Ethereum vs Ripple investment?
Ethereum is powerful. It is not only a currency; ETH is a world in itself. It can help anyone with a technical background to create tokens, create smart contracts, and even organize itself. Ethereum is a network where ETH is the currency used to create tokens and deploy contracts in the network. Although Bitcoin is only used to exchange value, the use of Ethereum is much more than that. In our opinion, this is why you should invest in Ethereum instead of Bitcoin.
Ripple has great usability; anyone can use the XRP token. Because of its low value. According to your investment amount, if the investment amount is high, even a small upward trend can bring you huge returns instead of ETH. Moreover, Ripple technology is currently used and tested by many banks, so even with this supply, they will rise slowly and reliably over time.
Without a deep dive, both blockchain worth attention via applied real-problem solutions, investing in them suggested.
How good Ripple (XRP) investment is
At present, the cryptocurrency market has found its foundation only after two years of an intense bear market. Now we are slowly entering the bull market. Those who have witnessed the 2017 bull market should know that this is just a warm-up before entering the mature bull market stage. Are you still wondering if this is XRP a good investment in 2020, I would say, of course, that’s why.
Based on XRP/USD Daily analysis, we could see how the price of XRP managed to get above 200 Moving Average and trading above 25 and 50 Exponential Moving Averages. The price of the asset is $0.24 for now. The bullish momentum is in. Only if the price closes below $0.2, the level where 200MA support located, the momentum flips and favors the bears.
There are chances that the price will soar and double or even goes to an all-time high in 2 years. So XRP investing potential is very good here. For such a question as how much to invest in XRP, we can say invest as much as it’s comfortable for you. But never invest in any asset the money you can’t afford to lose.
Current prices are pretty low; it is possible to lose only if some kind of ‘Black swan’ event happens. Ripple is made to improve our world economy and transparency. Governments recognize the value of all the work done in this field. At that point, regardless of what hardships Ripple will need to confront, they will keep the competitive edge in the financial world.
Investing in Ripple
Maybe you still confused with a question how do I invest in XRP? Don’t worry investing in Ripple never has been so easy as nowadays. To start investing in Ripple, you need to go to a reputable exchange. Currently, Ripple is available on most major exchanges, including Binance, Prime XBT, ByBit, and FTX. After choosing the exchange you want to use, you can start investing.
Depending on the exchange you chose, you might need to complete the verification process. For example, Binance can ask you to send a government ID.
After preparing the account, you need to decide how to load the account. If you already own a certain cryptocurrency that you want to use for XRP, you only need to send these funds to your exchange wallet. These funds can be displayed in just a few minutes. After they appear, you just need to enter the Bitcoin/XRP transaction window and complete the transaction.