The cryptocurrency market is cyclic – it depends on many factors such as news background, investor sentiment, global economy, etc., and the main factor that affects it is the supply-demand ratio. When demand drops and investors start to leave the market, prices fall, and vice versa. 2022 was the year of the crypto drop, starting in the spring of 2022 and lasting till now. Many people say crypto is dead, while smart investors are looking for promising assets to invest in the long term. Buying digital assets at the market drop is smart because small investments will multiply and bring a fortune on the next bull trend. In this article, we would like to discuss maybe one of the most discussed assets – Ripple.
What is Ripple?
The Ripple Labs company started its existence long before we first heard about crypto. The project was initially aimed at providing fast and affordable cross-border payments, which would solve all the problems of the current SWIFT system used in banks:
- expensive money conversion;
- long transaction proceeding;
- many intermediaries and bureaucracy.
Ripple used the XRP token for speedy money conversion to crypto, delivering it to any point on the globe in a couple of seconds.
Over 100 financial corporations use the Ripple technology, and the project has good future prospects for development.
The Ripple XRP price now is $0.34. Its all-time high was fixed at $3 in January 2018.
Investing in Ripple: Yes or No?
Many wonder why the Ripple price XRP is so low. All the matter is in the lawsuit imposed on the company by the SEC. The commission demands Ripple recognise their token as a security. The court case has been lasting for a couple of years, and the parties still cannot reach an agreement. It slows down the project’s development, and the token stays at around the same level.
However, it is definitely worth investing in Ripple, for this project has valuable technology and many real use cases, and as soon as issues with the SEC are solved, it will grow and reach the moon.
To buy Ripple XRP, use reliable and large crypto platforms with a good reputation. Pay attention to the WhiteBIT exchange – officially the biggest crypto trading service in Europe.
Editor’s Note: This above article is a message from our partner and should not be taken as financial advice. Please do your own research before investing in any digital asset.