The cryptocurrency market continues to grow. New digital coin listings are happening quickly. There’s much optimism and there’s pessimism too. One coin talked about a lot is Ripple (XRP). Lately, it seems to get talked about almost as much as Bitcoin. As an investment, let’s take a look at the potential of Ripple (XRP).
Potential and Basics of Ripple
Many people like Ripple (XRP). They are seriously talking it up as a worthwhile long-term investment. There are, however, questions. Some wonder about the reliability of this digital coin. They banter about its current performance. They doubt its future. They wonder if it is worth considering. What, really, does Ripple (XRP) have to offer the cryptocurrency community?
The Price Today
At the time of this writing Ripple (XRP) was trading at the price $0.5435 USD. In the last 24 hours, the price jumped just over 2.5%. Compared to other altcoins, Ripple’s price hike is good.
The news is not all good. The price did indeed rise. But the volumes got slammed on almost every exchange Ripple is traded upon. Trading volume saw a reduction of close to $80 million.
Pricing Ripple [XRP] Over Different Periods of Time
Price Over the Last Week
There have been bearish trends over the last week. Ripple has struggled to break those trends. The “Coinrail Hack” seems to have started the recent crash. All coins saw a price drop. Ripple was no exception. Ripple dropped from $0.6774 all the way down to $0.5119. That price drop equals a 24.6% loss. The currency is fighting back. Still, bears keep yanking it down often.
Ripple Price: Over the Last Month
The crypto has had a bumpy ride over the past month. Much price fluctuation was seen. The month ended with a significant price drop of the coin. Support was seen at the $0.51 level four different times. Each time it bounced back.
Price Over the Last 90 days
The end of April saw the price of Ripple almost hit $1. There was a monstrous spike in trading volume. The peak 24-hour trading volume during that Ripple run-up was $2.35 billion. However, it didn’t last. After hitting several critical price support levels, it just could not get any traction. As such, the price tumbled.
What is the Peak Price?
It is very hard to predict just how high the price of Ripple might go. Near the beginning of this year, it almost hit $4. That was its historic high and still it. Many think it can hit that price point again if the market goes bullish. But not for awhile. Maybe 6 months down the road this crypto could reach that price. Maybe. Others think that $3.50 is more realistic by the end of this year.
Long Term Ripple (XRP) Price
There has been a lot of talk about Ripple being good for a long-term investment. This is the opposite view of high priced cryptocurrency. Bitcoin, Ethereum, and some other pricey coins are looked at as fast money. With their crazy volatility and value fluctuations, they are mainly seen as an option for traders looking to make some quick bucks. Long term? Not so much.
Beware the SEC
The SEC has been taking a look at Ripple (XRP). If the SEC decides that Ripple is a security token, that is bad news. A verdict like that could very well be the end of that coin. If the verdict goes the other way, a price spike will most like occur.
All in all, many share the opinion that Ripple (XRP) is a great coin to invest in for the long-term.
Other well regarded long-term investment coins include Stellar (XLM), Cardano (ADA), NEM (XEM) and TRON (TRON).
As always, there are no guarantees. The predictions made in this article are only predictions. Markets are volatile and filled with risk. Your investing is your own responsibility.