Thanks to its unique nature in comparison to some of the other virtual currencies, Ripple (XRP) has succeeded in generating a lot of attention and interest from traders as well as investors.
In current time, hardly a day passes by without some information or news about Ripple (XRP), and as a member of the fast-growing virtual currency universe, Ripple continues to enjoy remarkable growth in fortunes.
The five-year-old business venture, which is led by Brad Garlinghouse, Ripple’s chief executive officer, is on the upward trend with its virtual currency, XRP, rubbing shoulders with the likes of Bitcoin and Ethereum.
It is this time we remember Ripple’s audacity last year when it compared itself to revolutionary companies such as Uber and Airbnb; companies that have managed to transform their respective markets
Why Should One Invest in Ripple (XRP)?
Ripple (XRP) Provides a Service
As one of its main strengths, Ripple (XRP) provides to the market a smooth experience when transferring funds globally using the power of its blockchain technology.
According to Ripple, this attribute allows financial institutions and banks to process their client’s settlements anywhere globally reliably, instantly, and almost free of charge.
Financial Institutions and Banks Require Virtual Currencies
Going by the technological advancements being witnessed globally, banks and financial institutions require vast amounts of liquidity to operate. This is one of the most pressing challenges banks and financial institutions have to face.
However, leading figures within the virtual currency market indicate that virtual assets such as XRP can be the perfect solution and tool to deliver and solve the liquidity problem. Crypto enthusiasts are already investing their money with the hope that banks will adopt a lot of Ripple (XRP) in the future to become their reserve currency.
Ripple (XRP) is Unique
In comparison to Bitcoin, for instance, Ripple (XRP) is not generated and does not depend on miners or mining. The mother company already generated roughly more than 99 billion virtual tokens.
Almost 55 billion of this number will be dispersed to users. Potential investors will have who wish to invest in Ripple (XRP) are required to have a digital wallet, the same way as other virtual coins such as Ethereum and Bitcoin.
Ripple (XRP) is Gaining Traction
Ripple (XRP) appears to be adopted and accepted by many financial players and exchanges around the globe. As of my last count, 60 exchanges have listed the digital coin on their platforms paving the way for the cryptocurrency to be adopted by financial institutions. Such companies include the likes of MoneyGram and other major financial players.
It is Profitable (for people with lots of patience)
In recent months, it is true Ripple has suffered negative price volatility, but it is in such situations that investors and traders can make money. Also, going by the number of companies that have adopted the token, it is just a matter of time when Ripple (XRP) goes the moon. To be honest, it is hard to tell when, but as things stand, it sooner or later will. Patience is the key.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Maxpixel.net