The wild child of the crypto world, XRP has earned both applause and flak from the mainstream economy scene. While heritage financial institutions like iconic banks have embraced XRP, the legendary US SEC has even gone to the extent of filing a lawsuit against Ripple- XRP’s parent company. This radical duality naturally leads to dramatic price fluctuations and XRP has not been immune to it. Put simply, the Ripple does witness strong price fluctuations time and again, leaving the investors to question the ROI potential of the coin. However, crypto analysts are optimistic about XRP, especially owing to its growing adoption rate and strong fundamentals. Crypto experts have predicted that the Ripple coin shows the potential to cross $5 by 2030, thereby beckoning magnum yields for current investors after 8-9 years. Visit buy crypto
Overview of XRP
XRP is launched by US-based leading fintech company Ripple Labs. Ripple is a cutting-edge international payments network that is used by several renowned financial institutions like banks. The company also serves as an advanced network for currency exchange. XRP, also dubbed as “Ripple Coin”, is the native crypto token of Ripple.
Launched in 2012, XRP used to be the 3rd largest crypto (in regard to market cap), after BTC and ETH. Currently, it’s in the 8th position in the list of top 10 cryptocurrencies.
XRP crash stirring concerns
XRP price is crashing- and crashing hard. In the last quarter of May 2022, the coin price was down by around 42 percent. The coin was hovering around $0.77 in April 2022- cut to June 2022, XRP price is around $0.32.
Crypto experts are especially worried because XRP has reached below its crucial support price which is $0.38. The coin has only plummeted down over the last one month and is suspected of entering a bearish phase lately. Some crypto experts have even been alarmed that the XRP price might plunge down to as low as 20 cents!
This bearish trend brings us to two inevitable questions.
Would XRP be able to jump up to a bullish swing in future, say at least by 2025-2030? Would it be worth it to invest in XRP, even in the long term?
If crypto evangelists and XRP champions are to be believed, the answer to both the questions is “Yes”. The discussion below will help to offer a clearer picture of the entire situation.
Reasons behind the price crash
Before getting into further discussion, you should know about the two main reasons behind XRP’s current price crash.
The recent crypto market crash in May shrunk the market cap to around 977 billion USD from 1 billion USD. All major coins have suffered massively from the crypto crash and XRP is one of them. The crash also wiped out a catastrophic amount (400 billion USD) of crypto investor wealth. It’s self-explanatory why investors are currently apprehensive of investing in crypto at least for now. Lack of interest from investors has led to a further plunge in crypto prices, including XRP prices.
The US SEC lawsuit
The crypto market is largely influenced and affected by hype. If a particular coin encounters a controversial situation- and something as critical as a lawsuit- it’s likely to hamper the price of the coin. The same thing happened with XRP.
Good thing is, Ripple Labs has already won its second procedural victory against the US SEC. A large section of the crypto community believes that Ripple might be closer to triumph. However, the final verdict of the lawsuit largely depends on the jury’s decision – so, we do not have confirmation about the win yet.
The case has already been dragged for 15+ months. It was about to draw a conclusion by the final lap of 2022- however, it has been predicted lately that the case might continue till the first quarter of 2023. So, it is slightly a challenge for XRP to show an upward swing in price (provided Ripple wins) until Ripple gets the final verdict from the court.
Why should you invest in XRP?
It has already been mentioned that XRP does show strong ROI potential, despite the current price crash. More precisely, XRP will be especially profitable if investors are flexible to wait for long term investment.
A large section of crypto experts have predicted XRP is estimated to show a gradual yet steady upward swing in the coming years. The coin is expected to cross at least $2 by the final quarter of 2025. It has already been said that XRP is predicted to cross $5 by 2030- some experts also believe that the Ripple coin might surpass even $10 within the coming 8 years.
Here is a brief on why XRP would make a strong crypto investment portfolio for investors.
Widely adopted by banks globally
XRP is a purpose-driven coin and hence assures a sustainable existence. This is not a coin that has been created just out of mere craze or hype. Rather, XRP serves a meaningful purpose that will only proliferate the coin’s value in the near future.
XRP has been embraced by over 500 banks across 55+ countries around the world. Leading financial institutions are increasingly counting on XRP for more streamlined, convenient and secured cross-border payments. XRP boasts an elite client-base, including the likes of Bank of America, Barclays, American Express, JP Morgan, Santander, Standard Chartered, and more.
Growing adoption in market
XRP is poised to drive growing adoption as a currency in the near future- thanks to its high TPS. The Ripple network boasts cutting-edge speed and can process a whopping volume of 1,500 transactions per second. Increasing adoption of the coin as a currency would further hike up the prices of the coin in the coming years.
Lawsuit win might lead to hike
While the final decision of the US SEC lawsuit still rests with the jury, Ripple seems to be in a favorable position as of now. The visionary American fintech tab is probably on the verge of winning. And if Ripple wins this high profile case, XRP would be able to draw in a more number of investors and users- including many who had been apprehensive of investing in XRP especially due to SEC’s allegations are, all these factors together would skyrocket XRP prices.
If you are interested in investing in XRP, buy the coin now when the price is low. You can expect mind-blowing profits when you will sell them after 5-8 years.