Should You Buy Ripple At The Current Price
Ripple XRP is one of the unique and most popular cryptocurrencies in the market today. It is opening new and exciting opportunities for investors, traders, and financial institutions with its advanced blockchain technology.
Currently, Ripple has high institutional interest and partnerships with established firms in the market. Therefore, the obvious question that pops up is should you buy Ripple at the current price?
Ripple XRP: The King Of Banking Infrastructure
Unlike other cryptocurrencies in the market, XRP has a unique purpose. It aims to solve the high-cost problems of inter-bank transfers. The Ripple project does not entirely take out the traditional financial systems; instead, it integrates the latest blockchain technologies to make them more advanced and accessible.
XRP, the native token of the Ripple ecosystem, is a significant digital device that helps users leverage the network services. This service token reflects the value shift in the Ripple network and is used as an interchange mediator.
Ripple XRP: Prominent Milestones
RippleNet also includes some of the best-known institutions forming the major milestone to Ripple's expansion.
It has earned the trust and interest of several established financial institutions such as JP Morgan (JPM), Banco Santander (SAN), Bank Of America, SBI Holdings, Standard Chartered Bank (SCB), Santander, American Express, and many more. By processing cross-border transactions within seconds, the Ripple network enables banks to enjoy a frictionless experience.
Ripple XRP: Recent Partnerships
Before answering the question of whether you should buy Ripple at its current price or not, let's see if Ripple XRP is here for the long haul.
Ripple's recent partnership with Asia's leading cross-border payment specialist Tranglo is worth mentioning. Ripple has agreed to acquire 40% as this enables it to expand its network across regions. The network can seamlessly meet its growing customer demands and expand its On-Demand Liquidity (ODL) service. With ODL, XRP is best leveraged to send money instantly and reduce the working capital needs.
By leveraging XRP and introducing ODL to new corridors, Tranglo will eventually expand its payment services, making cross-border transactions cheaper, faster, and more secure.
The team has more plans in place for its expansion. XRP's yet another recent partnership with the blockchain-based interoperability solution, Wanchain is also a significant boost to its value among investors.
The CEO of Wanchain, Jack Lu, officially announced their partnership in social media platforms. Along with it, the team added that "XRP holders can now securely use their XRP to farm, mine, and provide liquidity rather than simply leaving their tokens, inactive, in wallets and exchanges. XRP tokens can now, finally, engage with DeFi applications and reach their full potential."
Additionally, in its recent blog, Ripple outlined that it is piloting a private version of the open-source XRP Ledger, which is currently public. It will further provide Central Banks a flexible, safe, and controlled solution for issuing and managing digital currencies.
With all these prominent and valuable partnerships in place, it is clear that Ripple XRP is here to stay in the market for the long haul. And considering the given factors, purchasing Ripple at its current price is a reasonable investment opportunity to rake in good returns in the future.
Read Also: Is XRP a Good Buy?
XRP's Win In The SEC Vs Ripple Case
Ripple has had a significant rally since the starting of 2021. Thanks to its dedicated management team, Ripple was able to defend the SEC vs Ripple lawsuit allegations. Winning the case has been a contributing factor to its considerable growth.
The recent judgment was favourable to XRP with the complete support of the Magistrate Judge, Sarah Netburn. She strongly defended XRP from the allegation and permitted Ripple access to the SEC communication.
The Scarcity Of The XRP Token
Like most cryptocurrencies, Ripple has a limited supply of 100,000,000,000 XRP coins. But the XRP coin could not be mined. It currently has a circulating supply of 45,404,028,640 XRP coins in the market. With Ripple's increasing adoption, there will be a greater scarcity of the coin, which will eventually increase its value in the future. This situation indicates that it is prudent to buy Ripple at its current rate before an inevitable price escalation.
Check Out: Why Ripple Is Going To Explode
Should You Buy Ripple At The Current Price?
So should you buy Ripple at its current price or not? In terms of affordability, Ripple XRP is one of the best options in the market today. XRP is exceptionally cheap compared to its previous level.
Given its low price and increasing mainstream adoption, 2021 is a relatively good time to buy Ripple for a wealthy return in the future.
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