Price Analysis

Is Ripple A Risky Investment?

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Ripple is both a digital currency and a cryptocurrency platform. It is an open-source protocol that is specifically designed for allowing faster and cheaper transactions. RippleNet is a platform or a network that benefits institutional payment providers like banks and money services business. It provides a frictionless experience to transfer money globally. Ripple or XRP is a digital token that represents the transfer of value over and across RippleNet. Ripple is best described as Joker, and this idea has been derived from the creepy Batman Enemy. The transaction cost on Ripple is $0.00001. Ripple or XRP was created in 2004.

Present status of XRP

XRP is currently getting traded at USD 0.306261 (UTC time 08:46). It has occupied the third position in the present cryptocurrency market. Its current market cap has a value worth of USD 12,689,062,961. At present, 41,432,141,931 XRP are available to trade in the cryptocurrency platforms. Compared to yesterday’s price, the value of XRP has been decreased by -2.86%. It is currently following a bearish trend line.

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Price analysis of XRP on the basis of XRP charts

Ripple chart

By the above chart, the current price of XRP is 0.306257 USD or 0.00008112 BTC (UTC time 08:51). Its present market cap has a value worth of 12,688,888,589 USD with 606,556,110 USD as its 24h volume. The same chart shows that the price of Ripple, one month back, was 0.290614 USD. Contrasting these two price points, it is cleared that the value of XRP within this one month has got increased by 5.38% with 0.302311 USD as a very good support level. Considering this price range of one month period, the value of XRP has been on a bullish trend.

Future price predictions of XRP

As per the technical analysis, XRP is a high risk, one-year investment option. One’s current investment in XRP can be devalued in the future. The crypto analysts perceive that XRP value can even fall further in the upcoming days and by the end of 2019, it can be as low as $0.17. Some crypto analysts think that as Ripple has made great partnerships, they have got large global banks who test their technology and their developers are also very hardworking and keep up to their words, it is possible to have its more users in the upcoming days. At that time its value can probably increase.

Considering all these assumptions, it is cleared that XRP is definitely not a good option for investment and it can incur great loses to the investors.

Conclusion

XRP is expected to be on an increasing bearish trend in its upcoming days. It is better for the investors to remain vigilant about its price fluctuations so that they can make effective decisions at the right time.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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