Despite the fact that it seems contradictory at first, Ripple (XRP) might actually be more attractive now that its price is so low. Let’s see why this may be the case.
Ripple is a cryptocurrency that has been relatively stable since the price drop that hit the crypto market at the beginning of the year. Where other cryptos continued to drop more and more over the time, Ripple has mostly been balancing between $0.5 and $1.00.
Currently, its price is at $0.490357, with its market cap being slightly over $19 billion. However, despite the low price, Ripple still firmly holds the third spot on CoinMarketCap’s list of cryptos and is being regularly used on daily basis. In fact, some experts believe that Ripple might be getting even more popular as the time goes by, exactly because its price is so low.
At first, this doesn’t make any sense, but in order to understand this occurrence, we will have to take another look at its nature and popularity.
Ripple inspires trust
Ripple is a crypto that is centralized, which is the first thing that makes it different from most other coins. It is owned by the Ripple company, it cannot be mined, and it is mostly focused on creating better, faster, and more convenient payment systems.
These payment systems even include cross-border payments, which are now possible within seconds, while the traditional payments would usually take entire days to be processed. Because of this, Ripple has become one of the top coins chosen by banks and other financial institutions around the globe.
The fact that it is centralized helps with its stability, and since it has an owner and a face behind it, Ripple is capable of inspiring trust. Thanks to the company that owns it, Ripple has a certain reputation, which is exactly what the banks need in order to trust it. After all, it is much easier to trust a coin when you know who is leading it, what are they planning, and how good they are at what they do.
So, obviously, Ripple has a capable team behind it, and a name that inspires trust. Thanks to its products like xRapid, that have proven to be perfectly functional, banks see potential in this coin, which makes them want to adopt it and use it as an entrance to the crypto world, but under their own conditions.
XRP is becoming more and more attractive
This makes Ripple both necessary and desirable, which is why this coin has a guaranteed bright future ahead of it. Now, considering that we know that XRP will continue to be used despite the low price, the low price comes as an excellent opportunity for investors to get their hands on as many XRP coins as they can.
The crypto market is still young and largely unstable. However, many believe that this is still a good thing since it might help with filtering the existing cryptos. Their numbers have gone into the thousands, and with that many of them, nobody knows which ones have a future and which ones do not. The bad market will get rid of the coins that do not have what it takes to survive, and after this has happened, many believe that the remaining tokens will have their prices skyrocket.
This, of course, also includes Ripple, and so getting the coins while their price is still low makes perfect sense. As long as Ripple is being adopted and trusted by the banks, the coin is not going anywhere. With that in mind, the lower prices are actually making it more and more attractive, which is why the investors are buying XRP wherever they can find it.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
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