Intro To Getting Started With XRP
XRP token is a digital blockchain utility token for the settlement of large financial transactions. It’s good for cross-border payments and remittances, and built to handle currency exchange. The product is designed to handle large scale transactions efficiently with low fees.
While XRP is a top ten cryptocurrency by market cap as of Q2 2023, Ripple has spent many months over the years as a top five cryptocurrency by total market capitalization.
The crypto has a thriving investor community of crypto investors, institutional investors, and crypto day traders who like to trade Ripple market pairs because of their high price volatility on liquid exchange markets over most timeframes.
If you’re wondering is Ripple a good investment, or if it’s worth it to invest in Ripple for the ROI, here are some of the benefits to owning XRP tokens as an investment:
Benefits To Owning XRP
As an investment, XRP has provided some investors’ portfolios with incredibly massive return on investment for their allocation to Ripple tokens.
In 2016, XRP traded for less than seven-tenths of a penny for 1 XRP, but during the 2017 crypto bull run, the XRP-USD trading pair went absolutely parabolic, closing the trading session at an ATH (all time high) price above $3.02 on Jan 5, 2018.
Investors who owned XRP they bought at the 2016 and early 2017 prices saw their initial investment grow by over 4000% in a year or even just a few months. That means those who bought $1,000 worth of Ripple could have sold their gains for $4 million at the top.
Of course they would have had to act fast to maximize this incredible amount of ROI, because by Jan 16, 2018, the average price of Ripple on major crypto exchange markets was down to $1.18 per 1 XRP. After that, Ripple price held at persistent key support just above the $0.20 level until surging again during the 2021 bull market to a high above $1.60 in May 2021.
The main benefit of owning XRP today is the potential, based on the crypto’s historical price performance, of very profitable exit opportunities at some point on a highly-anticipated, next cyclical upswing in the Bitcoin price and capital inflows to the broader cryptocurrency market.
A Best Caste Scenario for Ripple Price: Will XRP Hit $1000?
If we give credence to the modeling of the historical price performance of Bitcoin (BTC)-- and the correlating performance of altcoins on the king crypto’s coattails— as a multi-year trend that is just in its beginning stages of market adoption and maturity, then we can postulate with some degree of confidence that there will be a future XRP ATH price well above the previous $3 record.
According to the Bitcoin Rainbow Chart model maintained by BlockchainCenter.net’s Holger Rohm, which plots the Bitcoin price trend into the future on a logarithmic graph using the historical price data going back to before 2013, the next cyclical bull market for cryptos appears apt to sweep the BTC price to levels above $100,000 at new all time highs.
Barring some unforeseen, totally serious setback to the Ripple Labs token, the next bull rush for altcoins could easily establish a new record price level for XRP. Would it be anything close to $1,000? That would be very unlikely on the next round of new crypto ATHs.
However, a $1,000 XRP price is not entirely out of the question on a long enough timeline according to one not entirely implausible scenario that has a fair number of credible believers. In that scenario, Bitcoin emerges as the #1 most used reserve currency in the world for international trade ahead of the U.S. dollar.
Tech titans who’ve proven their competence in both technology and business, like MicroStrategy’s Michael Saylor and Twitter and Block’s Jack Dorsey, believe this is the most likely outcome of the cryptocurrency industry’s trajectory. In a future like that, it would not be unreasonable to project the price of Bitcoin above one million dollars.
If Ripple hangs onto and grows its lead in some kind of proportion to that kind of scale for Bitcoin, an XRP price above $1,000 would not be out of the question.
XRP Price Prediction 2030
According to Trading Education, if Ripple grows and performs like Visa over the next decade, the investing website projects XRP could be valued at $32 by the year 2030, according to Nasdaq.
That’s not an unreasonable assumption given the rate of the blockchain network’s growth so far. At May 2023’s prices around the $0.42 handle, that would represent capital gains in excess of 7,600% over seven years– a cool average annual growth above 1,000% by decade’s end.
Top 3 Crypto Exchanges To Buy XRP
One of the best ways to buy XRP is from a major, established cryptocurrency exchange with a good reputation and favorable trading or brokerage fees. Then you can decide for yourself if you want to hold your XRP in cold storage on a wallet, or leave it more liquid to trade at market.
Here are three crypto exchanges worth looking into to buy XRP today:
Uphold Crypto
Uphold Crypto is a cryptocurrency exchange founded in 2013 under the name BitReserve and launched in 2015. The company that owns the exchange is based in New York, New York.
One of the pros of using Uphold Crypto is a wide selection of crypto and non-crypto assets to trade, including precious metals, stocks, and foreign currency exchange. One of the more common complaints is a variable spread for trade orders.
Binance
Binance was launched in 2017, and today exists as Binance and Binance.us for non-US and US account holders, respectively. It is the largest crypto exchange in the world by daily trading volumes, and offers one of the largest selections of cryptocurrency trading pairs.
One of the pros of using the platforms is its native BNB token, one of the top cryptos by market capitalization, and a utility token with discounts on trading fees. Although Binance.us is unavailable in four states and has fewer trading pairs than the global exchange.
Crypto.com
Crypto.com was founded in 2016 and is based in Singapore. Today the company that owns the exchange boasts 4,000 employees and 50 million customers for Crypto.com.
A pro of using Crypto.com to buy XRP is low trading fees when you fund your account with cash transfers. On the other hand, the exchange is not easy to use for beginners and offers minimal customer service support, so if you go this route, get ready to Google your questions.
Final Thoughts
In closing, XRP may not hit $1,000 in the near-term, but it is a highly sought after digital asset with potentially massive upside left in ROI from investing in this crypto early.