XRP (XRP) is one of the most popular cryptocurrencies currently. In terms of market cap, it is the 6th-largest cryptocurrency (over US$52 billion market cap). Now, the question is whether you should invest in it? Is it a good investment? What will be its price by the end of 2021 or 5 years later (2026)? To answer all your queries, let me walk you through Ripple XRP (XRP), its fundamentals, and the XRP price forecast.
Ripple can be described both as a payment network as well as a cryptocurrency. While its payment network is called RippleNet, its native currency is called XRP. The XRP token helps in carrying out cross-border transactions. You can trade XRP coins in leading cryptocurrency exchanges.
It was in 2012 when Ripple was released. However, the concept of Ripple Payment Network was first expressed by Ryan Fugger back in 2004. The project went on board when Jed McCaleb and Chris Larson took over in 2012. Ripple Labs came into existence in the same year and the XRP coin went on to become a better version. Though it was the idea of Ryan Fugger, Ripple XRP’s founders are Jed McCaleb and Chris Larson.
XRP token power the value transfer within the network. You can trade XRP in exchange for any other cryptocurrency or fiat currency. The transaction fee associated with trading Ripple XRP coins is negligible. The main purpose of XRP is to facilitate transfer of money from one currency to another at least cost and time.
All these facts and figures (as of Oct 13, 2021) will help you to make a decision on investing in Ripple XRP:
XRP resolves multiple issues including huge transaction fees and slow speed of transaction associated with bitcoin. While the transaction speed of bitcoin is around 10 minutes, the same for Ripple is just 4 seconds. In fact, Ripple XRP can handle around 1,500 transactions per second in a hassle free manner.
Initially, Ripple Labs created 100 billion XRP coins. Their operation is completely independent from that of Ripple. RippleNet is a digital payment network, on which the Ripple (XRP) currency runs. In fact, the RippleNet digital payment network is based on DLT (Distributed Ledger Technology).
XRP is witnessing sustainable improvement over time. However, it has faced many odds such as the latest SEC filing against it. Though these events impacted its price rise, this altcoin’s price has increased continuously. In 2021 YTD, XRP price increased by over 350%. Many believe that the price of XRP is highly undervalued and therefore it is expected that its price will increase significantly in the near future.
XRP price is hovering around US$1.11 at press time and it has increased by more than 369.02% in the last ten and half months.
By the end of 2021, the price of each XRP coin is likely to hit US$2 or remain near it anywhere from US$1.8 to US$1.9.
By the end of 2022, the price of each XRP token is expected to reach anywhere from US$3.4 to US$4.
Cardano’s price is expected to hit an all-time high price at US$10 in the next 5 years.
Always remember that cryptocurrency investment advice always comes with the risk of loss. As prices of cryptocurrencies are highly volatile, you should be ready to consider the loss aspect too. If you can’t afford to lose money, crypto investment is not for you. Instead invest in fixed income assets. To be sure about your investment, always go through the fundamentals, technicals, and price history trends of the Ripple XRP market. Once you are absolutely sure about investing, go through the XRP network price prediction, and then invest.