Ripple: Revolutionising the way money is sent
Ripple’s XRP has been in the industry for some time now, and it is one of the more established cryptocurrencies in the market. Not only is it registered with some big banks but it also owns shares in some giant firms. Ripple aims to change the way money or funds travel all around the globe through its token called the XRP.
Sending money across the border is a hassle, it takes over 72 hours in most cases, and at times the customers have to fill in various forms. All of this has led financial institutions and other financial companies to find a faster yet convenient and efficient method to send and receive funds. Ripple’s XRP also is in the same category.
It is very challenging to make a long-term prediction for Ripple. However, it is clear that XRP is the backbone of Ripple and if XRP fails, then the chances are that Ripple as a firm will fail too. It is no secret that Ripple’s XRP is a little different when comparing it the other crypto giants. For example, technically it is not decentralized.
Moreover, it is making the banks even more powerful which is the opposite of what Bitcoin aims to do, Bitcoin as developed in order to escape the banks and centralization. The world’s top 3rd cryptocurrency with a market cap of a little over $18.4 billion uses a handful of nodes or validators to validate the transactions instead of using the concept of Proof of Work (POW) or Proof of Stake (POS).
XRP (XRP) Price Today – XRP / USD
Price 24H (%) -0.20%
Where is Ripple’s XRP heading?
Currently, Ripple is heading towards a bullish market. In order to understand the technical analysis, we first have to take a look at the resistance levels and support levels. The resistance levels for XRP are $0.61, $0.63, and $ 0.65. The support levels for XRP are $0.40, $0.38, and $0.36.
On the 1st of November 2018, XRP was at a bullish market. The price of the worlds 3rd top cryptocurrency was floating well above the average price. Which means that we can expect a price rise for XRP soon. It isn’t all roses though, and the cryptocurrency will face resistance at $0.48. The good news is that the MCAD and Signal lines are well above the zero line.
This means you should buy XRP and hold it for a while. If you buy Ripple right now and the crypto market booms during December then your Return on Investment or ROI will be high. Even the one hour chart shows us signs of a bullish market. The 12-day and 26-day EMA are also giving us a buy signal so technically its a green light for investors.
It is essential to bear in mind that none of the above can be assured and anything, I repeat anything is possible in the world of cryptocurrencies. There are no rules and regulations and no one to blame or sue if you lose your entire investment. You should always do your own research and only invest money you can afford to lose.