The world’s 3rd most valuable cryptocurrency, Ripple (XRP) is currently at the crossroad. Despite being the least volatile asset, XRP has seen its price to go down by 5.4% over the last seven days. Moreover, as things stand, it seems the price of native Ripple cryptocurrency would not stop falling any time soon diving.
But, is that reason enough to avoid Ripple? The price, as it’s the case with the crypto market, keeps on fluctuating, and even though XRP keeps on going down, there’re a plethora of reasons to hodl Ripple’s coin.
Why Hodl Ripple’s XRP?
Investing in any cryptocurrency requires some research, and it’s always advisable to invest in what you can afford to lose. True Ripple enthusiasts have got several reasons to believe that the current price will only come to pass; hence, you need to hold on a little longer.
If you hold 1,000 #XRP you will have $100,000 in your bank account by end of 2020.
— CryptoBull (@CryptoBull2020) September 1, 2019
For instance, Ripple’s main target is the banks whereby it enables near-instant cross-border money transfers. Besides, folks alike can use Ripple for money remittance purposes. We all know that Ripple has scored partnerships with about 200 banks already, including the Bank of America, Standard Chartered, UBS, Barclays, Santander, JP Morgan, and American Express to name a few.
Therefore, it’s a no brainer to say that Ripple stays active and will keep attracting demand, which ultimately might help to make sure that the price of XRP does not stay down for long.
Moreover, Ripple’s speed is unrivaled; in fact, SWIFT is no longer a close competitor as the US-based blockchain firm is much ahead in terms of execution speed and cost.
Ripple is decentralized, and its cryptocurrency XRP has a robust infrastructure which will only get better. Besides, it’s very secure as like some of the cryptocurrencies that include additional security to the transactions whereby each transaction gets added to the public ledger that can’t be changed or altered.
Also, Ripple has got no miners at all, and the crypto has got a genius team building the ecosystem and attempting to push it to greater heights.
Fundamental factors that make Ripple and XRP attractive
There’re several factors grabbing attention to Ripple and its cryptocurrency XRP, which sooner or later would reflect on the price. For instance, the partnership with the 2nd largest money transfer firm, MoneyGram. Reportedly, the remittance giant now uses Ripple’s xRapid product for its cross-border payments. Talking about some positive aftereffects, after the partnership, volumes of XRP on Bitso (a Mexican exchange) rose by over 25%, a good sign of things to come.
The cooperation with Xendpay, the London-based money transfer company, which joined RippleNet to open its market access is a great asset too. Moreover, XRP being added to the new index of NASDAQ is a piece of excellent news. The platform has added XRP Liquid Index (XRPLX) to their global financial data service.
Cumulatively, there are a good number of solid reasons to hodl Ripple (XRP) despite the constant dropping in price. At press time, XRP boasts a price of $0.2545 and has a market cap of $10,990,539,687.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.