XRP is one of the leading cryptocurrencies on the market, well-known for its speedy transaction time. Although it crashed recently, it’s recovering at a phenomenal rate and is now a popular topic of discussion for many investors.
This impressive currency continues to surprise users at every turn. In this guide, we’ll explore XRP, especially its possible future in the crypto market.
Ripple’s Impressive Growth in 2018
Ripple’s Impressive Growth in 2018
XRP and Ripple experienced a lot of positive growth and benefited from different happenings in 2018 that contributed to its increased value and popularity.
- For one, in October 2018, a Google Expert Developer joined Ripple in its work on crypto-powered payment networks. This encouraged investors to give XRP a try. Ripple also lobbied its idea to lawmakers through its startups.
- In the second quarter of 2018, Ripple experienced double its revenue, and XRP became the third-highest cryptocurrency in terms of market cap.
Ripple’s Downfall in 2020
Unfortunately, many negative happenings surrounded Ripple by the time 2020 came around, and this affected the value of the currency.
- Different crypto exchange platforms like Bitstamp and Coinbase stopped offering XRP.
- Ripple Labs, Inc. was also sued by the U.S. Securities and Exchange Commission, which caused investors to lose faith and the value of XRP to drop.
- The social media sentiment was negative and based on discussions about Ripple’s lawsuit.
- Eventually, Cardano (ADA) took XRP’s place as the fourth-largest cryptocurrency.
Is Ripple a Good Investment?
With its ups and downs, the real question is, is it a good investment now? Here are the pros and cons of investing in Ripple today.
Pros
- XRP is affordable to purchase now because of the price crash and high supply that happened in 2020.
- Its services and capabilities have piqued the interest of different financial institutions, which will lead to stability.
Cons
- The SEC has sued Ripple, so the price movement of XRP will depend on the outcome of the lawsuit.
- Although XRP is tradable, it has no value on its own.
How to Purchase XRP Today
If you want to invest in XRP, you will have to go through the simple process of acquiring it. Since most exchange platforms follow the same procedure, we will be using Godex as an example.
You don’t need to sign up before starting; just follow the steps below. In addition, there is no exchange limit.
- Select the Currencies. Firstly, select BTC as the currency you want to send and XRP as the one you’re receiving. You will see the Ripple to Bitcoin exchange rate.
- Specify the Wallet. Click on Exchange and submit your XRP wallet for Godex to send the Ripple coins to you.
- Wait for Deposit. Deposit BTC into the wallet given to you by Godex, and wait for it to be confirmed.
- Exchange. Once it has been confirmed, Godex takes five to thirty minutes (one of the fastest exchange platforms out there) to convert your BTC to XRP. It will give you only the best exchange rates.
Final Thoughts on Ripple
Ripple (XRP) is a cryptocurrency and payment method that is widely accepted. It enjoyed many advantages in 2018, with the collaboration with a Google Expert Developer being a significant one. Although it’s in a discouraging position now, it is already showing strong signs of recovery.
If you decide to purchase XRP and invest in it, you should use a reliable exchange site like Godex.io.
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