The Blockchain market is growing faster than any other financial market in the world. Many cryptocurrencies have witnessed an astounding growth in the past few years. The Blockchain market is seen as the future of the world financial system. There are many reasons people believe that Blockchain will bring positive transformations to the world’s payment system. Blockchain technology is enabling much more control over the transactions we make with an excellent transaction speed.
Another great benefit of the cryptocurrency market is security. Not only the cryptocurrency transactions are much more secure, but these are far cheaper as compared to other financial markets. The cryptocurrency infrastructure has grown by leaps and bounds in the past few years. It is further expected to grow at a rate of 67.3% from the year 2020 to 2025. Thanks to the decentralized nature of the Blockchain market that makes cryptocurrency transactions more transparent and highly efficient.
There are many cryptocurrencies within the Blockchain market. Some of them are Bitcoins (BTC), Ethereum (ETH), Ripple (XRP), and Binance Coin (BNB). One of the best performing cryptocurrencies in the Blockchain market is the Ripple(XRP). If you are a beginner in crypto, there might be a chance that you may have never heard about this cryptocurrency before. However, Ripple(XRP) has always managed to make its place in the top 10 cryptocurrencies for quite some time.
Although we know the XRP as Ripple, it is not the true name for the cryptocurrency. Ripple is the name of the company that founded XRP in 2012. The cryptocurrency XRP works on a similar mechanism to that of Bitcoins. It was founded in 2012 to provide a speedy, secure, and almost free international transaction. It seems that Ripple has been true to its objectives of transforming the global financial system. In the year 2017, the price of Ripple (XRP) surged by over 3,733%, making it one of the top cryptocurrencies in the year.
Ripple has a market capitalization of $48 Billion. Hence, makes Ripple (XRP) is one of the best cryptocurrencies to take a position. If you are still wondering why you should invest in Ripple (XRP), this article will be for you. Here are some of the reasons why Ripple (XRP) makes a great cryptocurrency for investment.
Why Should You Buy Ripple
1. XRP is affordable:
Ripple (XRP) is far more affordable than other high-performing cryptocurrencies in the market. The current price of Ripple is $0.48. This is far less than other high-performing cryptocurrencies like Litecoin, Bitcoins, Ethereum, and Bitcoin Cash. The price of Litecoin is $198, while the Bitcoin cash is selling at $540. Hence, there is great potential in Ripple to provide good returns in a very short time. Additionally, Ripple aims to create a financial mechanism that is far cheaper and efficient. Moreover, thanks to the high acceptability, Ripple also serves as a link between many financial assets in the market. Overall, these factors make Ripple an excellent cryptocurrency buy.
2. XRP makes things easier:
As we have discussed earlier, the XRP makes things easier in many ways. It aims to provide a speedy and secure transaction to transform the global payment system. You can also exchange many types of financial assets using Ripple making is a great choice as a bridge currency. Ripple has the potential to provide small businesses with access to the global market if it is adopted widely.
Apart from that, Ripple is designed to be more cost-efficient and straightforward as compared to the traditional money transfer system. Ripple is already gaining popularity as remittances due to its place in the top 10 cryptocurrencies and ease of use. Hence, Ripple has great potential to be widely adopted by businesses throughout the world for a better chance in the payment infrastructure.
3. The Ripple (XRP) is growing steadily:
The XRP has been one of the fastest-growing cryptocurrencies in the Blockchain market. The current market value of the XRP is $48 Billion. The currency price of Ripple(XRP) on March 9 is 0.47 USD that increased from 0.14 on March 18, 2020. The Ripple was also able to recover after seeing a decline in the previous year when it hit a peak of 0.68 USD. Hence, this shows the recovering potential of the XRP in the dynamic Blockchain market. Apart from that, the large market cap is also an excellent sign of the investor’s confidence in the cryptocurrency. This makes the XRP more resistant to dips or volatile markets.
Using Ripple in Forex
Ripple is now a worldwide popular currency. In fact, it is being used in Forex to exchange other currencies. Although Ripple is a cryptocurrency without having a nation base, it is still being exchanged with different countries’ currencies. However, to invest in crypto, you need to create an account at a cryptocurrency exchange. There are many cryptocurrency exchanges in the market. Apart from that, there are many MT4 brokers that accept XRP deposits. Many forex traders are now exchanging Ripple with different currencies, helping to amalgamate the crypto and forex market.
Ripple is one of the top-performing cryptocurrencies in the blockchain market. It was founded to create an infrastructure for the global payment system; Ripple has gained the attention of a lot of traders. A high market value of Ripple(XRP) is a sign of the high confidence of investors in the Ripple. It helps to reduce volatility or big dips in the price. There are many reasons for buying Ripple.
The XRP is much cheaper as compared to other high-performing cryptocurrencies in the market. There are better chances of gaining a lot of returns in a very short time from Ripple. Ripple is also growing steadily over the past few years in market capitalization and is expected to grow more in the coming years. The combination of all the above factors makes XRP a great cryptocurrency to take a position.
Article Submitted By Community Writer