Is XRP a Good Investment and Worth Buying in 2022
Many well-known cryptocurrencies use Blockchain technology as their backbone, and it cycles transaction data and saves it in the blocking system for security. Compared to most cryptocurrencies, Ripple operates on a novel ‘hash tree’ paradigm rather than Blockchain technology. XRP employs a future approach to record transactions, similar to Blockchain technology.
Cryptocurrencies, over the years, transformed themselves to become the centerpiece of financial transactions in the current digital economy. As digital tokens become more popular, more individuals are experimenting with the decentralized concept. Although Cryptocurrency has made significant advancements in value transmission, it still lacks degrees of interoperability with traditional money systems in a broad sense. Ripple seeks to improve the speed and ease of money transfers by utilizing Blockchain technology.
Although Ripple uses the XRP coin and XRP ledger in various roles, the XRP Ledger and XRP coin are entirely independent of the Ripple company, as evidenced by several comments and materials provided by the firm over the years.
What is XRP?
XRP is a payment-focused digital asset. It is one of the original digital assets designed for the XRP Ledger, which is open-source, decentralized Blockchain technology, and permissionless that can settle transactions in as little as 3-5 seconds.
XRP may be transmitted directly without a middleman and is a useful tool for swiftly and effectively bridging two distinct currencies swiftly and effectively. XRP and the XRP Ledger are utilized to power breakthrough solutions across the payments field because of the quick action, less expensive, and more scalable than any other digital asset.
Ripple largely concentrates on developing technologies that will enable XRP to gain additional use and alter global payments. Other XRP-related use cases are also being pursued by third parties. Ripple operates RippleNet, a platform allowing users to trade cryptocurrencies and transactions anytime. RippleNet has been a direct rival to the banking system of the Society for Worldwide Interbank Financial Telecommunications.
History of Ripple
RipplePay is an exclusive platform for money transfer founded by software engineer Ryan Fugger in 2004. Its current form is the culmination of a series of transitions and advancements over the years. Jed McCaleb, David Schwartz, and Arthur Britto are a team who have had an impact on that trip. After Bitcoin’s introduction in 2009, the trio of programmers decided to construct their own solution outside of Bitcoin (BTC). The XRP Ledger, which went online in 2012, was the outcome.
In both 2017 and 2018, coins of XRP were widely accepted. Although Bitcoin achieved good numbers in 2017, it also shed light on the altcoins that would follow. Ripple was fortunate enough during this period. Due to a strong bull run during 2017, the price of XRP plunged rapidly, losing about 97 percent of its value. Fortunately, Cryptocurrency achieved good traction over time and made it into the top ten lists.
Regulatory concerns around Ripple appeared in December 2020. As per the lawsuit filed by the US Securities and Exchange Commission (SEC), Ripple offered XRP to the US and global investors, which is also part of an unregistered securities transaction raising more than $1.3 billion.
Ripple Technical Analysis
Traders can use online trading analysis websites to understand the market trend. It is vital to comprehend trading aspects mentioning downtrend, momentum, and trade setup. XRP and Ripple networks work together, enabling a better exchange of different coins, including fiat and high-rate currencies.
Is XRP a good Investment?
Ripple is turning out to be the leading network for money transfer allowing quick and cheap transactions. However, it’s unclear what Cryptocurrency has planned for 2022. As the lawsuit case between SEC and Ripple is due to conclude next year, analysts anticipate that the price of XRP will skyrocket if the outcome is favorable to the business.
Furthermore, general price projections of XRP are US$1.62 in 2022, more than tripling its current worth. The graphs also suggest that if all goes right, Ripple may hit $2.
XRP Price Prediction by Experts
According to Investment Haven, 2022 seems flawless for XRP Ripple. They predicted that the price of XRP, which claims to have the highest capacity of all cryptos, might hit $20 by 2022. Similarly, Roman Guelfi, a crypto expert, said the price of Ripple (XRP) would witness a good surge. Other leading cryptocurrencies and their price will fall, and the amount of risk of projects and the price of XRP/USD will cross. You can also check other experts’ opinions about XRP prices by clicking here.
With investors’ eyes on SEC and Ripple lawsuit cases, it is vital to see how the Ripple XRP market changes and brings investment benefits to investors.