WHAT is Ripple XRP? XRP Explained for Beginners 2021
"Bitcoin was able to rise from a couple of pennies in 2011 to nearly 3 grand now. So,
why is it so inconceivable that Ripple may increase from 29 cents to $100 or more eventually?
Why is everyone so bearish on how high a Ripple can go? Remember, people were once negative
about Bitcoin too." Hello everyone and welcome back to Daily Crypto
facts, where you get to know everything about the latest cryptocurrency. By now you would
have got an idea that in today’s video we are going to discuss everything about XRP.
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XRP is one of the four cryptocurrency leaders along with Bitcoin, Ethereum, and Tether.
With the changing trends seen in the crypto market, Ripple has been one of the top four
popular cryptos to stand between Bitcoin and Ethereum for years.
Do you know what the most intriguing feature of XRP is? It is not mined like Bitcoin but
already exists. Mining has always been in conversation due
to its excessive use of electricity and how this phenomenon is exploiting the earth. Therefore,
unlike bitcoin, XRP makes the best eco-friendly and sustainable cryptocurrency.
The currency of the Ripple is XRP. Cryptocurrency is XRP and Ripple is the US-based company
behind XRP. Like any other cryptocurrency, Ripple has
seen its share of ups and downs. Despite all the odds against Ripple, XRP price remained
less impacted and propelled accordingly. Many experts believe XRP price is highly undervalued
and may swell notably shortly. And this is what we will talk about in this
video and many more things. So, don't you miss a frame.
Ripple is a for-profit platform and cryptocurrency. XRP (Ripple) was first launched in 2012 and
is widely used to describe both the payment network and cryptocurrency, similar to Ethereum.
While the payment network is called RippleNet, XRP is the local currency used to carry out
cross-border transactions that can also be traded. Ryan Fugger first voiced the concept
behind the Ripple payment network in 2004, but Ripple didn't begin to form until 2012
when Jed McCaleb and Chris Larson took over the project. It was initially developed as
a cryptocurrency to power the Ripple network as it is sent digitally.
XRP Ledger is open source and based on distributed ledger technology. Moreover, XRP can resolve
several issues faced when using bitcoin, like low speed and colossal transaction fees. The
transaction speed of Ripple is only around 4 seconds, and around 1,500 transactions can
be handled hassle-free per second. XRP, the currency of Ripple, is the only digital
asset specifically designed for financial institutions and payment providers. This happened
because Ripple is a digital payment protocol. XRP is the only crypto that came into existence
with a clear use case behind it! Currency exchange takes a lot of time and
fees. Ripple uses XRP as the common currency to exchange currency, which reduces the time
and fees you have to spend. This way, you get to save a lot of time. Regarding
the procession fee, Ripple charges only $0.00001 for one transaction. That's not a typo; it's
the actual fee. The fee could've been zero, but Ripple has
kept it to avoid scams and DDOS attacks. Many banks and financial institutions have
started XRP to facilitate their overseas transactions. The Commonwealth Bank of Australia, Santander,
Fidor Bank, and 61 Japanese banks stated that they are either trying or using the Ripple
network. There was a time when people only knew about
Bitcoin as a cryptocurrency, but its ill effects on the environment did not remain hidden from
the investors. However, Elon Musk, who himself invested in
Bitcoin, shifted to a cryptocurrency that is more eco-friendly and has the potential
to give you better returns. Most of the investors have a keen eye on Elon Musk in the world
of investing, so when he showed trust in XRP, some of the other investors tried their luck
with the token, and now it is the cryptocurrency that is believed to change the world forever.
After the significant Bitcoin fall, most crypto investors doubt their decision to invest in
crypto, which is a very natural thing to do. But if you have invested in XRP, then 2021
is definitely going to be a lucky year for you.
XRP Price Predictions for 2021
The price of XRP jumped from $0.2 to more than $0.5 in February and traded above $0.4
until a huge spike rallied the price close to $1 in April. Later, the price eventually
crossed $1 and reached the yearly highs at $1.9.
In 2021, the sky was the limit for XRP price predictions. Despite the legal battle against
the SEC and Ripple's CEO. Although there has been some good news to XRP Holders, there
were rumors of the case against XRP being weak. XRP has made significant gains and remains
bullish, matching the sentiments of investors. As per the XRP price patterns, analysts expect
collaborations with financial institutions could drive the altcoin price. If this happens
by the end of 2021, being a fast and less costly cryptocurrency, XRP can easily grab
many investors. Thereby the price might hit the $1.673 mark with a bullish market.
On the contrary, if a bearish trend outperforms the bull, the price may decline for a short
term, estimated to decline near $1.001, and may recover within a small-time frame. However,
if it maintains the current market dominance of 2.65%, it may trade at $1.213 by the year-end.
Digitalcoin Price A website for crypto prediction, Digitalcoinprice.com,
has revised its forecasts that XRP will hit $1.88 by the end of 2021 to $1.46.
Currently, they predict that by 2022, the price might be $1.81, which is twice its current
price. Trading Beasts
Trading Beasts have made an ambitious outlook for 2021 has changed their forecast of the
price to hit $1.23 with a jump of 31.55% by the end of the year.
Primex Bt Primexbt rolls out an extreme bullish prediction
as they hope the price would hit $4 by the end of 2021 and reach $22 by the end of 2022.
Interestingly, the platform predicts the price to hit a three-digit figure in 2023, hitting
nearly $160 and plunging slightly to $140 by 2024-25.
Wallet Investor According to wallet investors, their altered
price forecast states that XRP price might surge gradually and hit $1.97 in the coming
year. They suggest XRP be a profitable investment and quotes +31.96 as the long-term earning
potential in one year. Coin Switch
The coin switch analysts say the price may hit $2 by the end of 2021, which may go as
high as $4.52 by the end of 2025. If XRP closes this year, hitting lows, it
could resume next year's trading on a bearish note. In this case, the XRP price as of January
could be close to $ 1.017. If this happens, the XRP price maybe $ 1.681.
The Ripple-SEC lawsuit could last until 2022, and the outcome should be favorable to Ripple.
And as a result, the price can reach almost $ 2.44.
However, if XRP struggles to survive cryptocurrency regulators in countries like the United States,
the price could collapse and fall to $ 1.269. Now we would like to know from you what do
you think about XRP? Let us know in the comment section below. If you find the video helpful
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