Considering the huge potential for Ripple (XRP), prices for the cryptocurrency remain very low. At the time of writing you can ring in Ripple for as little as $0.87. Seriously, that’s a bargain.
Not only is XRP’s price point a bargain, it’s a bewildering surprise. This is a technology that has being trialled by over 80 global banks since 2016, and is in partnership with 61 Japanese banks to make it possible for customers to make instant cash transfers.
Japan is the world’s leading region for cryptocurrencies and looks set to make digital payments mainstream.
News of five more financial institutions adopting Ripple’s xVia technology has nudged the price of XRP up this week. However, mainstream newspapers are reporting they expect interest in the cryptocurrency to boom.
Ripples new customers include three UK-based firms; FariFX, RationalFX, and Exchange4Free. Malaysian giant MoneyMatch, and the settlements company UniPay based in the Republic of Georgia are the other two.
Ripple’s xVia technology is designed to help financial companies expand their customer base by building bespoke connections with banks. The blockchain is capable of processing 50,000 transactions per second – twice as many as visa.
To sum up, Ripple is a dead cert to become one of the leading payment gateways for millions of businesses around the world.
Ripple in the market
A couple of weeks ago, it looked as though Ripple was ready to take off. XRP went from a lowly $0.50 to over $2 in a matter of hours, before plummeting back to $0.58. Clearly, the cryptocurrency is being used as a pump and dump.
But don’t let market manipulation put you off investing n XRP. Pump and dump schemes are pulled by whales – usually the money men behind the banks – to make a fortune at the expense of traders that smell the opportunity to make quick cash.
More fool them.
Ripple is an investment for investors with a long-term view. And buying now whilst prices are still under $1 is a steal. XRP prices have started a steady – and natural – incline this week, and the recovery has moved the price up by 23.60%.
This percentage is still low in terms of cryptocurrency price hikes, but as more companies buy Ripple, this sleeping giant is about to wake up with a roar.
Why buy Ripple?
The answer is simple. Financial institutions need Ripple protocol to transfer money and the company is consistently adding new clients. Due to Ripple’s upswing in speed transaction, the technology is likely to be adopted by a large number of financial players.
XRP is one of the most undervalued cryptocurrencies on the market yet has the biggest potential to become a global leader in digital payments.
Ripple has one of the biggest caps in the market – $33.59 billion. To put that into context, market capitalization is the total market value of a company’s total outstanding shares. Experienced traders use market cap as a key indicator of a stock’s potential.
Furthermore, official information offered by the company confirms there is 55 billion XRP coins held in Escrow. This suggests they are being held back with a view to selling them in a future timeline – hence why XRP prices are currently low.
Ripple is equipped to sell around a billion alt-coins a month. We recommend you buy your XRP now whilst prices are still low.