Ripple ranks among the top five cryptocurrencies at the moment and is expected to have an exciting development and a significant increase in its value, which is still considered very low.
It is the third cryptocurrency by market cap standard. XRP is safe to invest in and trade with other cryptocurrencies, Bitcoin, Litecoin, and Ethereum.
In this article, we will talk about Ripple as a truly tradable digital currency and the reasons why it is worth including in your investment plan.
Ripple’s currency symbol is XRP, and the currency was created by the same company of the same name based in San Francisco, USA.
What distinguishes XRP from cryptocurrencies is the payment protocol that it operates on. It functions as a delivery network, payment system, and currency exchange based on cryptocurrencies, commodities, and fiat currencies. The most significant advantage of the Ripple payment protocol is that other financial institutions can integrate it into their existing systems.
What is a ripple?
The following features distinguish the Ripple payment solution: Security – Confidential Transactions Direct Distribution – No More Intermediaries Connecting Multiple Networks; as a result, the payment system created by XRP is expanding rapidly in the banking field. Several major financial companies have concluded various cooperation protocols with Ripple, including well-known institutions such as UniCredit, UBS, and RBC.
You have many reasons to be interested in this cryptocurrency. You can buy XRP in fiat currency through many of the existing exchange platforms.
Reasons to Invest
You can choose to invest in Ripple or trade XRP in the financial markets through other financial instruments such as contracts for exchange. However, before initiating purchases in any way, it is advisable to study the evolution of the Ripple price so far.
Like all other cryptocurrencies and Ripple, it is characterized by high volatility, as evidenced by the rally that brought the historical maximum and immediately an equally radical correction. Therefore, XRP can move very quickly and impulsively. It is advisable to consider technical analysis when you start trading or when you want to buy Ripple.
Keep in mind support and resistance levels when technical analysis of the XRP trajectory. It would help if you used a dynamic support and resistance indicator to set it.
Is Ripple a good investment?
Ripple is a good option for investing and trading in the future, mainly because its value is still meager. But let’s take into account the fact that its payment solutions are increasing rapidly. XRP is sure to experience rapid upward development in the same way as Bitcoin, as some believe it has a chance to overtake Bitcoin in terms of popularity and even in terms of market cap.