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The cryptocurrency market is much more volatile than other financial markets. There are many trustable assets, which have given great returns over the years. Everyone knows Bitcoin as the market leader, and Ethereum as the second largest cryptocurrency. Furthermore, according to CMC, Ripple (XRP) is also ranked seventh among the top ten cryptocurrencies, which could deliver incredible returns in the future. Now the question arises, is Ripple (XRP) a good investment?
What is XRP and How Does it Work?
XRP is a digital currency that is the native token of the XRP Ledger, thereby helping to facilitate cross-border payments in conditions. The best things about this asset, its open source platform, using low-cost permissionless and decentralized technology. The XRP coin was launched back in 2012 when people were becoming aware of the cryptocurrency. The XRP/XRP ledger was founded by David Schwartz, Jed McCaleb, and Arthur Brito.
XRP is a scalable and trustworthy blockchain with decentralization. It is leading a Global Developer Community because it is fast, energy-efficient and reliable. So far, only 48% of the coins are in circulation in the crypto market, among which the maximum supply of XRP is 100 Billion USD.
In the last year-2021, XRP coin recorded an excellent bullish gain where buyers were celebrating gains of over 750% from the 2021 lows to the 52-week high of $1.96 mark. However, in the last few months the entire crypto market took a huge downturn and most of the cryptocurrencies have noted recent bottoms. But now the circumstances have changed, as a result, the crypto market prepares to start another bull run.
Okay, so Would You Buy XRP for a Long-Term View?
As we all know, Bitcoin was created to replace the traditional banking system, so Satoshi created a decentralized network to replace banks and financial institutions in the future. Furthermore, XRP has a different approach to serve as a mixed structure between the two industries.
As the crypto market is slowly moving towards where XRP is used as a bridge currency during trading. Based on its unique trading future and speed, many new investors are seeing it as a profitable investment at the time.
Let’s have a look on the price history of XRP
The XRP coin has a greater bull run back in 2021, besides, now crypto is observing its 18-months lowest levels. Amid the downtrend, sellers have sold–off the asset in bounce, therefore, buyers became the witness of the latest 52-week lowest level of $0.2906.
Is it possible for XRP buyers to hit an all-time high again in 2022?
Now buyers are accumulating the XRP crypto to push the price higher. This action may occur if buyers manage the asset price above the previous key swing high of $0.60. At press time, the XPR is trading at the $0.356 mark against the USDT.
On a higher time frame window, XRP’s price action constitutes a round bottom, where traditional indicators like the RSI and MACD are going to reflect the bullish bias for the given crypto.
Conclusion
Although, the XRP is trading lower nowadays, a bullish rally is expected from the traditional indicators. Meanwhile, XRP could be a favorable investment in 2022, if buyers have the patience to keep it in their portfolio.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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