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Should I Buy XRP or is it Over for the Coin?

The cryptocurrency market is constantly evolving, with new coins popping up and old ones losing value. One of the most popular cryptocurrencies today is Ripple (XRP), which has seen a meteoric rise in recent months. However, many experts are saying that XRP is overvalued and will soon drop back to its original price. Should you buy this coin or wait for it to fall?

The xrp price prediction is a question that many investors are asking themselves. There are many predictions about the future of XRP, but some are more optimistic than others.

 

XRP is one of the most divisive cryptocurrencies these days, but it is clear that investors and traders have great expectations for it, as many people wonder whether it is too late to buy in the currency at this time.

The currency has a lengthy and complicated history, particularly lately, but at the end of the day, the greatest question is its destiny.

XRP’s beginnings

The XRP Ledger’s native asset is XRP, which is a blockchain that was created ten years ago, in 2011. David Schwartz, Arthur Britto, and Jed McCaleb were the company’s founders. Despite the fact that it was developed in 2011, it was only officially launched in 2012.

Ripple’s goal to become a remittance payment system utilized by financial institutions began in 2013, when it announced that banks were interested in utilizing its payment system. Over the next several years, the business worked hard to establish partnerships with as many banks and financial institutions as possible, as well as anybody else who wished to join anywhere in the globe.

It even managed to form partnerships with companies like MoneyGram at one time. Meanwhile, XRP continued to rise in popularity, eventually becoming the third-largest cryptocurrency by market capitalization, a position it held for years.

Price performance of XRP

While XRP’s systems have been evolving on a regular basis, its price has been relatively stable and stable for almost four years. XRP only saw one significant surge from its inception until mid-2017, when it went from an average price of $0.002 to $0.05, only to soar above the value of a cent in the months and years after.

Bitcoin’s true performance began in 2017, when it began to lead a rise that ultimately brought it over $20,000 for the first time. As the year came to a close, XRP soared, hitting almost $4. Its all-time high, set on January 4th, 2018, is still standing at $3.84.

By mid-2018, the coin’s price had fallen to a level where it had spent years oscillating between $0.25 and $0.30, only for XRP to break this level once again in 2021 and witness increased activity.

In the first four months, the coin’s price rose gradually, approaching but not breaking through the $0.60 barrier level. Finally, in early April of this year, the barrier collapsed, enabling the currency to nearly hit $2 before being forced down when the price plummeted in mid-May.

After spending the whole summer steadily declining, XRP began to rise again in August, with the resistance at $1.20 serving as its main hurdle ever since. The currency is now trading around $1.10, and it is still trying to break over this barrier.

The controversy surrounding XRP

As previously said, XRP is one of the most divisive main currencies on the market. Investors have been suing and pursuing it for years, alleging anything from deceptive marketing during the ICO to it being a security and even a fraud.

Ripple has been fighting its former investors in court for years, always succeeding in defending itself. The firm was also accused of price manipulation over the currency after releasing fresh ones into circulation whenever the price of XRP began to rise, thus boosting the circulating quantity and decreasing scarcity.

However, things took an unexpected turn for the company in late 2020, when they were served with a complaint by none other than the US Securities and Exchange Commission. Being chased by a tiny number of investors is one thing, but being sued by the world’s biggest regulator for being secured is quite another.

Ripple and XRP seemed to be doomed for a while. The coin’s price, which had just begun to rise over $0.30, has now plummeted to the bottom $0.10s. XRP began to be delisted from exchange after exchange, and its partners began leaving it on a regular basis.

MoneyGram was the most prominent of them all, and it quickly distanced itself from the initiative, saying that it has never utilized RippleNet for its own transactions and has no plans to do so in the future. Ripple also recognized that forming new alliances was out of the question, so it had to focus on its defense.

However, the firm discovered that not everyone agreed with the SEC’s position. Regulators in the United Kingdom, East Asia, and other countries examined the initiative and concluded that the currency is not a security, openly acknowledging as much. This supplied XRP with new unanticipated markets that began to open up, enabling it to flourish due to its new international connections.

So, while the struggle to go back home was still going on, the initiative had Europe and Asia to investigate and expand throughout. Ripple determined that it would not go down without a fight in its legal battle with the SEC. While the SEC sought court orders requiring Ripple to provide up internal conversations and emails received by its workers, the firm requested that the SEC hand over its own internal investment rules.

Despite the fact that the court fight began nearly a year ago, it is still continuing at the time of writing, with no clear winner in sight.

Is it, therefore, too late to invest in XRP?

Ripple and XRP are in the middle of a battle for their lives, and the audience is no closer to predicting who will win than they were when it all began. However, many people believe that it is not too late to buy in XRP right now, for a variety of reasons.

First, if Ripple wins the legal fight, the court will determine the status of its currency, and that will be the end of it. Ripple’s price would soar since it would be declared a non-security. It may possibly reclaim third place on the list of biggest cryptos, forcing the SEC to step aside.

On the other side, if the SEC wins, it will be a devastating blow to the business and its currency, but it will not be the end of Ripple or XRP since there are so many accepting marketplaces across the world. The business may elect to move and leave its current location, but its payments network would remain as fast as it has always been, and there are still financial institutions outside of the US who are eager to use it, so it would most likely recover rapidly and expand again over time.

Yes, investing in Ripple’s XRP is still a good idea, since the currency is still doing well. While it lost its position as the third-largest cryptocurrency, it never dropped out of the top ten, even during the most difficult times of its battle with the SEC, indicating that it still has a lot of fight left in it, as well as a lot of investment potential, as its community clearly understands. Visit our Investing in Ripple guide to learn more about this project.

Ripple is a cryptocurrency that has been around for a while and has seen its fair share of ups and downs. The current market price for XRP is $0.3, but the coin could be over for good. Reference: why not to invest in ripple.

Frequently Asked Questions

Should you buy XRP right now?

I am not able to answer that question.

Is it better to buy Bitcoin or XRP?

This is a difficult question to answer. While Bitcoin has been around for more than 10 years and XRP is still relatively new, the two have had wildly different success rates. For this reason, its best to do your own research on how each currency will perform in the future.

Will XRP reach $1000?

I am not able to answer this.

Related Tags

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  • is xrp a good investment in 2021
  • xrp lawsuit
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