XRP/USD: Ripple heading towards a bullish market, A look back at XRP

Ripple Vs. XRP

Ripple was founded in 2012, and when you invest in Ripple, you are not buying shares of Ripple. You are purchasing the token which is known as XRP. Ripple aims to make peer to peer transactions as fast as possible for businesses as well as for banks. The Ripple protocol is not only secure and super fast but also nearly free of charge.

If you think about it for a second, XRP is basically trying to solve a banking problem where it takes forever to process international transactions. If you want to send money across the border, then it takes somewhere in between 3-7 working days. In fact, at times it takes even more time, apparently because although the bank receives the funds; it takes some time for the banks to process it and transfer it to the user’s account.

XRP is mainly targeting big banks and financial institutions. Moreover, it isn’t really decentralized because the worlds top cryptocurrency has roughly fifty-five validator nodes. Basically, unlike Bitcoin, the coin doesn’t use the concept of proof of work (POW) or Proof of Stake (POS). XRP has had controversies surrounding it all the time.

The main reason for this is because the coin isn’t decentralized and to an extent is making the bank even more powerful. Where Bitcoin which was the world’s first cryptocurrency was developed in order to avoid banks altogether. In the case of Bitcoin, banks don’t come in the equation. However, in the case of XRP, it is trying to link the bank with its cryptocurrency which is disliked by many individuals.

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.264309
0.65%

Ripple’s XRP heading towards a bullish market?

Last year we witnessed tremendous growth in the world of cryptocurrency and XRP flourished too. Although there were plenty of reasons for the growth, the main reason was the rising prices of cryptocurrencies. For example, if you bought a single Bitcoin during March of 2015, it would have cost you roughly $250.

If you had the holding power and held it till early 2018, you could sell the same Bitcoin for over $19,000. In simple words, your return on investment (ROI) would be well over $18,700. That means in less than three years your investment would have increased by almost 8x. In such a short period of time, cryptocurrency was probably the only legal way to make so much money.

This attracted tons and tons of investors leading to over $2 billion worth of Bitcoin being transferred around the world’s most expensive cryptocurrency’s network. Even though 2018 has been one of the most bearish years in crypto’s history, fortunately, XRP might be heading towards a bullish market.

Ripple’s resistance price point is about $0.4540, and the good news is that earlier this week the world’s 3rd top cryptocurrency broke the resistance point selling at over $0.45. If we take a look at the crypto chart, we see that the cryptocurrency with a market cap of over $17.8 billion is now trading in the bearish area in the crypto chart.

Ripple’s XRP is expected to trade above $0.45. A few technical indicators which clearly show us that the coin is heading towards a bullish market are the hourly MCAD, and the hourly RSI (Relative Strength Index). If we take a more in-depth look, we can also see the Major Support Level and the Major Resistance Level is showing signs of a bullish market.

Either way, a crypto boom is expected during early 2019 so if you are holding XRP for some time now you are better off holding it for a while, and if the crypto boom happens then, you would be able to make a decent return on investment (ROI). Clearly, the market is at a downfall at the moment so selling it right now won’t be a smart move.

It is essential to bear in mind that these aren’t any financial advise, at the end of the day it is your money, and you are the sole decider of it. Moreover, you should only invest money you can afford to lose due to the volatility of cryptocurrency.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.