With the digital age came more opportunities to make a quick buck. The beginning of cryptocurrency was slow and now economists have shown faith and predicted only brighter things for the future. One of the competitive cryptocurrencies that are emerging as a winner is Ripple. The future of financial assets is surely cryptocurrency and let us see if Ripple can be a part of the dynamic future.
Ripple as we know
Ripple was introduced in 2012 and has focused on creating partnerships and nurturing them to gain customers since then. It is a cryptocurrency as well as a payment platform used for financial transactions. A lot of trading websites use Ripple and XRP interchangeably, however, they are not the same. XRP is used to promote digital transactions. Ripple was introduced with the goal to streamline the usage of cryptocurrency in mind. The list of international banks that support Ripple is growing by the day. The elevated usage of the Ripple payment system will ensure the value of this cryptocurrency grows.
Ripple is amongst the top 10 cryptocurrencies in popularity as well as the market capitalization sections and is much cheaper than Bitcoin or Ethereum.
Predicting the future by looking at the past
So far, the steady rise of this cryptocurrency is an indication that it is going down the correct path. The price started to rise once it was recognized by banks and started being used on mainstream platforms. This has made Ripple less volatile than its competitors. During digital asset price fluctuations, this is a safe bet. This makes it an excellent long-term investment.
Here is what makes Ripple an interesting investment
Ripple has managed to create a buzz in the market as it can meet the requirement of cross-border funds transfers with low costs. Another attractive trait of Ripple is the amazing speeds at which it can facilitate transactions. It takes as little as 5 seconds to finish a transfer as compared to Bitcoin that can take up to 10 minutes or more. Ripple is expected to disrupt and take over the traditional platforms of international funds transfer.
2020 was a tough year for Ripple due to the drop in prices and yet it dominated the cryptocurrency market. In this turbulent year, Ripple price in INR has seen a high of 159.63 rupees and a low of 14.28 rupees in 2021. The value of this cryptocurrency is gaining momentum again steadily. The lowest recorded price in the month of October 2021 is 70.78 rupees. That is a sizable jump from where it started at the beginning of the year. The future for this cryptocurrency seems bright. Those looking to invest in Ripple should not expect immediate returns and think of trading in months or years.
Unlike most cryptocurrencies, Ripple is not decentralized and is owned by one company. The path to success is charted by them and it cannot be mined. This cryptocurrency is what the creators call “pre-mined” and a finite amount of this was released together at once. Every transaction results in the destruction of a small amount, which reduces the supply, and the demand remains the same or increases.
How can you buy Ripple in India?
Ripple is one of the safest and hence one of the most popular cryptocurrencies in India. You can buy Ripple in India on trading and exchange platforms. Every investment has a certain percentage of risk. However, Ripple has the lowest investment with the highest potential return. Post a sharp drop in the prices, Ripple is on the path to recovery. If you are looking to invest in Ripple, there is no time like now.
Since Ripple is quite popular, you can also find it on international exchange and trading platforms as well.
Why should you consider investing in Ripple?
E-commerce has boomed in the past couple of years and the need for expanding digital markets is obvious. Ripple is the key to unlocking the doors to globalization for businesses. With the simplification of cross-border transactions, the whole world is your market now.
This isn’t just an asset but it is supported by an entire company that is the Ripple Labs. With employees, specialist teams, this cryptocurrency is a full-time business.
Would banks or financial platforms have partnered with Ripple if they did not see a bright future? Ripple has been thriving despite the recent setbacks and is all set to replace the current system of international funds transfer. They are committed to acquiring customers based on the perception that Ripple is more than just a cryptocurrency. It is a financial service that is relevant in today’s world of faster decisions and heightened business efficiency.
The standing of Ripple in the market of cryptocurrency in the next 10 years remains to be seen.