Last year was an excellent year for crypto investors. Several cryptos generated big returns in the bull run, which was started in March 2020. Now many investors look at cryptocurrency as an alternative source of the asset class.
Ripple is one such asset that could offer you handsome returns in the next ten years. It is an altcoin with plenty of potential for future growth. Ripple Labs is the name behind the token XRP. Ripple net is a payment solution that operates on its blockchain. The network has a broad client base for several reasons.
Many financial organizations from 55 countries have adopted this technology to allow transactions on a faster and more secure network. In the last year, it has entered into a partnership with Japan’s leading money transfer company, SBI Remit, to facilitate lower cost and secure cross-border payment transfers. Coins.ph has partnered with Ripple network for a mobile wallet service provider in the Philippines.
SWIFT is a traditional money transfer method. However, do you know SWIFT launched SWIFT GO to compete with Ripple Net? You can assume the potential growth of this network.
However, let’s look at the technical analysis of XRP.
While writing this technical analysis, the XRP price is around $0.74, which is near the support level of $0.73. If it breaks this support, the next support level will be around $0.50, which is far lower than the current market price. On the upper side, $1 and $1.14 are the resistance levels which it may not break this time.
On the daily chart, the RSI and MACD are neutral. The candlesticks are forming in the lower half of the Bollinger Band, which is not a great sign for the price chart. Indeed, it is a risky investment, and short-term investors should not invest in this token.
The price of Ripple token is down because of regulatory issues with the US SEC. In 2020, a lawsuit was charged for the unregistered securities, but the recent news is the case has been solved, so the price of XRP can go upward after a long consolidation phase. A value investor understands that the price of XRP is not signifying its potentiality.
Indeed, it is a risky investment, but it can be a big opportunity. The price is down, and it has a good foundation with wide global clients. Investors are waiting for a handsome return in the coming years.
Should you invest in this coin? Explore experts’ take to find more information on the future possible price projection of Ripple token. It is time to wait for a bullish signal. Indeed, this altcoin is a risky investment, but if you understand the fundamentals and think it can compete with other payment providers in the market, then you should invest in this token.