Price Analysis

Ripple (XRP) Price Analysis: XRP Has Now Given the Perfect Buying Opportunity

Ripple Labs Inc created ripple (XRP). It works as a real-time gross settlement system, currency exchange, and remittance network. It is also an independent digital asset based on Ripple Consensus Ledger. XRP claims of being the fastest and most efficient for the financial institutions which are aiming to global reach, accessibility and fast settlement finality for interbank flows. It was created in 2012, and it was based on a distributed open source protocol. The token released by XRP represents fiat currency, cryptocurrency, and commodities. The vision of XRP is to facilitate “secure, instantly and nearly free global financial transactions of any size with no chargebacks.”

RippleRipple (XRP) has a very high return on investment at 5771.53 %. It is ranked 3rd at the market. The maximum possible supply of Ripple (XRP) stands at 100,000,000,000 XRP, whereas the total supply as of today is 99,991,663,388 XRP and the coins currently in circulation stands at 41,743,765,071 XRP. The current market cap of Ripple (XRP) is 00:04 UTC is 14,336,362,457 USD. The value of each coin in terms of USD and BTC stands at 0.343437 USD and 0.6869 BTC at the same UTC. The 24 h volume stands at 2,468,896,186 USD.

However, Ripple (XRP) has been giving many perfect buying opportunities the last month. The market cap on March 04 was 12,651,492,562 USD, and the value of each coin was 0.305355 USD and 0.00008115 BTC. The current market cap is 13.31 % more than the market cap of March 04. And the same way value of each coin in USD has increased by 12.47 % since a month. The month’s figures are trending to the downside giving a perfect place to the buyers so that they can leverage their positions to get a huge profit in the future.

The performance of XRP both in terms of USD and the market cap is subject to many highs and lows. Just after the starting of the year, it got a huge momentum leaving people for predicting a real high growth for this coin. But, it soon fell and continued the game of highs and lows. But the recent week has been the worst. It has been falling steep and facilitated a buying opportunity. In a single day, it gained much from 0.30 USD to somewhere around 0.35 USD. We predict the growth is not going to last long, so it will give many such opportunities to make a perfect buy. And with a little caution and attention, the sale needs to be done with a target just above 0.40 USD. Holding the coin for the long term may not be very profitable for the investors.

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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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