Ripple (XRP) has become a firm fixture when it comes to cryptocurrency and related news.
Other than Bitcoin (BTC) and perhaps Ethereum (ETH), or lately EOS (EOS), no other crypto commands the attention Ripple has.
Some of the attention has been on the problems and challenges facing its parent company. However, for most enthusiasts, and detractors alike, it’s whether XRP can be a good investment.
Questions abound about its suitability as an investment. What will its performance be long-term?
Will the XRP token be adopted by the numerous banking partners? For an ordinary investor, Ripple can only be a good investment if it holds the potential to gain value.
Adoption
One thing that puts ripple at an advantage as a crypto is an acceptance its XRP coin and the XRP ledger have received.
Over the course of 2017 and 2018, the platform has secured more and more partners. All are attracted to the strengths of the protocol, including its high scalability, transaction speeds, and low costs.
It has a very strong team, a great marketing drive, and a working product. These fundamentals put it in a good position to see more growth.
Let’s examine what else makes investing in XRP a good thing.
Adoption
One thing that puts ripple at an advantage as a crypto is an acceptance its XRP coin and the XRP ledger have received.
Over the course of 2017 and 2018, the platform has secured more and more partners. All are attracted to the strengths of the protocol, including its high scalability,transaction speeds, and low costs.
Various pilot tests have proven that using XRP saves users up to 70 percent in costs and reduces time to mere minutes. As such, it’s likely that we’ll see an increase in adoption of the platform’s solutions.
Already payment providers like MoneyGram and Mercury FX are in the process of rolling out XRP payments via xRapid.
Various pilot tests have proven that using XRP saves users up to 70 percent in costs and reduces time to mere minutes. As such, it’s likely that we’ll see an increase in adoption of the platform’s solutions.
Already payment providers like MoneyGram and Mercury FX are in the process of rolling out XRP payments via xRapid.
Widening of the XRP use cases
Ripple may have achieved a major milestone with the recent pilot tests, but the future could lie in the xPring initiative.
Through this project, the team wants to “expand the use of the XRP cryptocurrency into new verticals and segments beyond the payment and banking space where the company is focused.”
The project is already underway and the team seeks to have entrepreneurs find new use cases for the XRP ledger and currency. Such projects will receive funding and grants.
It’s an ambitious idea and could see the platform’s digital currency find use in the gaming industry, media, trade, real estate, virtual goods, identity, as well as in micro-payments. If it penetrates even half of these new markets, it sure is going to boom at some point in the future.
So, can XRP’s price go higher?
It should, but that will likely be a long-term thing. If we consider the large coin supply and the industry it is trying to penetrate, we’ll find that ripple’s price will experience a rather gradual growth over coming months or years.
However, its value has hit an all-time high of $3.86 before. Therefore, should the market rally, we could see it push for prices approaching that level.
Even if the bearish trend persists and coins lose value, XRP should be able to rebound higher. As such, the coin should be able to hit values above $2 by end of 2018 or early 2019.
At the moment, the digital coin trades below 50 cents. It has lost over 75 percent of its value in 2018. However, the market has been so bearish; all other coins have similarly lost value.
Investor concern
The main concern for XRP is whether it will survive being classified as a security. All eyes are on the US SEC even as Ripple execs maintain that it shouldn’t. Also of importance is the outcome of the class action suits pending before courts.
Although they won’t kill the platform, they may affect short-term price development. It is potentially a great investment, provided you are prepared to HODL.
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