Everyone is going nuts with cryptocurrencies because of how much profit early investors made. While everyone has their reason for joining the cryptocurrency train, the majority of people on the train are there to make a profit. Coins like Bitcoin and Ethereum have achieved mainstream investors, as such, you can’t make much profit off them. But coins like Ripple are a great coin to invest in. Ripple price is still considerably low, as such when you invest in it, you can reap big when its price skyrockets. Apart from its low price, Ripple is one of the top 10 most traded cryptocurrencies. Read on to find out why Ripple is one of the most traded cryptos.
Its team and investors
When you want to invest in any crypto, it is advisable to first do background research on the coin. This is crucial as there are so many crypto coin scams out there, so you have to be extra careful. The team behind Ripple was able to use its complex network to attract major investors. In no time they were able to take millions of dollars in investment. One investor worth taking note of is a tech giant: Google. Google was one of Ripple’s early investors, as well as Apple. Other investors like Airbnb, Coinbase, Twitter, Facebook, Snap, and so on, all contributed to what made Ripple rise to one of the top 10 most traded crypto.
Ripple is bank-friendly
Another reason why Ripple is one of the most traded cryptocurrencies is that it is bank-friendly. There is no doubt that digital currency isn’t going anywhere, but that doesn’t mean the banking system will disappear overnight. The world is still very much dependent on the banking system. To buy most cryptocurrencies, you still need to make use of fiat currencies offered by a bank. And with most merchants not accepting cryptocurrencies, you still need to convert your crypto to fiat currency to buy things. So, when you consider the dependency of banks in the crypto world, you’d realize Ripple is a good coin to invest in. Ripple is supported by dozens of banks including BBVA, Axis Bank, SBI Bank, MUFG, eZforex, and so on, just to mention a few.
Ripple price prediction
People buy Ripple for so many reasons. For some, it might be because of its transaction protocol, for others, it might be as an investment. If you are looking at a long-term investment, Ripple’s price is very likely to increase based on its recent price formations. While predictions about Ripple price vary from analyst to analyst, the majority of them maintain that if Ripple continues its road to broader adoption, its price will increase steadily with a conservative estimate that varies between $10 and $20 in the foreseeable future. This prediction is one of the reasons why several people are considering Ripple a valuable asset to buy right now.
Ripple is one of the most traded cryptocurrencies because its supply is limited. Unlike other cryptocurrencies that are mined, 100 billion Ripple were pre-mined at its launch. Although the Ripple Company has not released all the minted Ripple. They periodically supply the remaining held Ripple. The supply of Ripple has an impact on the number of people trading it because in business, if the supply does not meet the demand, there is bound to be a price increase. While currently, the supply of Ripple surpasses the demand, since there is only a limited amount of Ripple, in the foreseeable future, demand will surpass supply, and early investors will make an immense profit.
For any coin, the ease at which you can buy and sell it is very important. And when it comes to buying and selling crypto, exchanges come into the picture. Being listed on an exchange is a big deal for any crypto. Similarly, being taken down an exchange list can also negatively affect the price of the crypto. For Ripple, finding an exchange wouldn’t be an issue, as they are listed on several major exchanges like Bitvavo.com, this platform also gives you the luxury to swap other coins to Ripple and vice versa.
To sum things up, Ripple is a worthy investment for those looking to add another coin to their investment portfolio to play the long game. Ripple is particularly an ideal coin to start with as Ripple’s price is considerably low and the perfect coin for first-time investors. The future is looking bright for Ripple as it provides some of the solutions financial institutions need to complete financial transactions.