Live Ripple XRP Price
Live Ripple XRP Chart
XRP is one of the most popular cryptocurrencies, constantly battling in the top 3 positions of cryptocurrency marketcap. Follow this step-by-step guide if you are interested in investing in XRP.
Keep in mind, Ripple is not the same as XRP. Ripple is the company that builds technology to support and leverage the XRP technology.
XRP is designed to be used as a financial instrument for cross border payments, settlements, and finality of transactions.
The XRP asset was built to be a bridge asset that exchanges value instantly and at low cost.
Update: There is an ongoing lawsuit with the SEC and the Ripple founders in regards to the company selling XRP.
Many exchanges have suspended trading until further clarification.
Below you can find the exchanges that currently offer the XRP digital asset.
How To Invest in XRP
Most regions in the world allow for the investment of XRP. Some exchanges have de-listed until the SEC lawsuit is over but you still have plenty of options for buying XRP.
There are a couple things you will need and we will list them below.
It won’t take long and you will be an official XRP investor!
Where to invest in XRP in 2021
You have a couple options when it comes to investing in XRP.
For this example, we are going to use Uphold to show you step-by-step how to invest in XRP.
Step 1. Create Your Uphold Account
Creating an account is easy and takes just a few minutes.
Just like all trustworthy and credible cryptocurrency exchanges, Uphold requires you comply with KYC laws by verifying your identity before you can invest in any assets.
Once your account is verified, you can start buying cryptocurrencies, including XRP. Account verification happens quickly most the time.
Step 2: Choose your funding source
Uphold gives you plenty of options to fund your account like fiat currency, bank wire and debit or credit card. You can also swap value between other assets such as cryptos in your Uphold balance or through cryptos on another network to invest in XRP.
In the image below you will see three drop down boxes that make purchasing assets quick and simple.
Here is what it looks like once you choose the funding source and XRP asset you want to purchase. In this next image, you can see I am using the VeChain (VET) account to fund the purchase of XRP.
Step 3: Confirm The Trade
In just a few steps, you can see how easy it is to buy XRP through your funding source of choice. You can also just as easily swap between assets in your balance or on other networks if you already own cryptocurrency.
Ripple price prediction
Most cryptocurrency authorities on the internet have their own prediction for Ripple XRP price in the future, but you should understand that nobody has an exact answer and people can only speculate on what they believe the future price of XRP will be.
The most you can do now is compare the various expert predictions to see if there are any similarities. If you’re interested in purchasing Bitcoin or any other cryptocurrency, keep the following points in mind: Cryptocurrency investing is a high-risk activity, so you should only invest as much as you can afford to lose.
To some extent, forecasts are likely to change. With more news available, experts may modify their forecasts as they acquire new information. Take a look at some of the most well-thought-through expert predictions for the Ripple price in light of this.
Tips for investing in cryptocurrency
If you came here to learn how to invest in XRP, you have more options than just using Uphold. The goal is to find an exchange that you trust, has comparable rates and setup your account with an amount you are comfortable investing.
Trading cryptocurrency is risky and there are no guaranteed profits. Here are some questions to ask yourself before you trade cryptocurrency
- What is my risk tolerance?
- What I am getting out of this investment?
- How much do I need and can I afford to lose?
- What are the biggest risk factors?
- How much experience (if any) do I have with investing in other assets?
Security and Protecting Your Money
Buying the XRP digital asset is one thing but making sure you store it properly is another. You can leave your coins on the exchange but you risk losing your money if the exchange goes out of business or gets hacked. It’s always best to move your coins to a cryptocurrency hardware wallet to make sure your coins are secured in cold storage and offline, unavailable to possible intruders.
If you use Uphold, you are required to setup 2FA )two-factor authentication) but it doesn’t your coins should be left on the exchange. This extra step makes it more challenging and practically impossible for someone to hack your account without having your mobile device.
Most exchanges are using 2FA and Uphold requires it. You will need to donwload the Google Authenticator app in the app store on your phone and sync Uphold in order to gain the access code which will be used to confirm any transactions made through your account.
Get started here by creating your Uphold account if you don’t already have one.
XRP and Ripple FAQ:
What is Ripple?
Ripple is a privately owned software company based in San Francisco, United States. The American-based firm was founded in 2012 and was originally referred to as OpenCoin before it was renamed Ripple Labs in 2015. The main objective for its establishment was to provide a user friendly interface for sending money using blockchain’s power.
The company mainly develops softwares used by banks and other financial institutions to facilitate fast and secure global financial transactions powered by the network underlying digital currency XRP. This platform is considered as one of the most successful platforms in the digital currency world because different large financial institutions have used it to carry out payments across borders.
It is important to note that the Ripple enterprise network, the RippleNet, can operate efficiently and effectively without the XRP function. According to information on Ripple’s website, financial institutions prefer to use RippleNet because it is reliable instantaneous and cost-effective.
The company’s net worth mainly comes from its being the creator and a major shareholder of the digital currency XRP. Ripple is estimated to own about 60 billion of the 100 billion XRP tokens available in the circulation market.
Away from XRP, the other Ripple core products are xCurrent and xRapid. xCurrent is a network used by banks and other financial institutions as a messaging medium for setting up a cross-border payment in real-time. xRapid, also owned by Ripple, is a platform that allows banks and other financial institutions to convert fiat currencies to XRP quickly and affordably.
What is XRP?
XRP is an independent cryptocurrency used by banks and financial institutions to facilitate transactions in the Ripple Networks. The technology that powers this powerful emerging currency is known as XRP Ledger, and it also acts as a blockchain platform in which XRP tokens are kept. The Ledger’s main advantages are that it is communally owned, which means it is the users on the platform that dictates whether it succeeds or fails.
The main objective for the creation of XRP was, it to act as a bridging currency between various fiat currencies and as a source of liquidity. It was meant to allow traders, banks, and financial institutions to transact digitally. Additionally, it was an upgrade to the bitcoin network with the aim of solving the high cost of transactions and slow transaction speeds that are always associated with Bitcoin and other popular digital currencies.
Ripple Labs and XRP have always had a symbiotic relationship since their development. For instance, since the development of Ripple Labs, XRP has created more than 100 billion XRP tokens, powered by the Ripple Network concept. While the brains behind the development of XRP and Ripple are the same, they do operate independently. This has ensured that they maintain a cordial relationship in order to maintain their trustworthiness to their customers.
Is XRP secure?
XRP has a high level of security, unlike other centralized platforms. The XRP developers have invested a lot of resources and man power to ensure that XRP network is secure and free from hackers’ attacks.
Also, XRP is the underlying blockchain platform under which Ripple operates. This makes it even more secure.
XRP runs on several servers operated by different organizations. Since it was created, XRP has yet to face a significant problem that could threaten its digital currency market authority. To this date, there have been zero transaction errors on the XRP ledger from our knowledge.
Does Ripple create XRP tokens?
Ripple does not make any crypto token. They do not make XRP coins, but rather, they use the XRP tokens already produced to fuel their business.
The developers that created XRP made only 100 billion tokens. Only these developers have the power to make more coins, but it is highly unlikely that they will.
Should I invest in XRP?
We aren’t financial advisors and this isn’t financial advice but yes, you should actually consider investing in XRP.
Because it has a huge potential to grow and dictate the digital currency world. Secondly, its prices make it one of the best investment opportunities since it is affordable and can be transacted with ease. Lastly, it offers the best transaction services compared to other cryptocurrencies. For instance, most multinational banks now prefer to use it since it provides a faster, secure, instantaneous, and affordable transaction services.
If banks can use it? Then it would help if you also tried it out.
Although this article is not meant to serve as financial counseling or offer investment advice, it is definitely worth noting that XRP is a good investment fundamentally, as at today, XRP values at about $.5o per coin, down over 70% from when it hit a high of $3.81 in 2018.
The trend that XRP has set makes experts predict a sharp rise in its value by 2030.
World’s Bridge Currency?
Ripple is a cryptocurrency, but it is also so much more. Ripple’s XRP currency has been adopted by many banks and payment providers as an efficient bridge asset between CBDCs for cross border payments and other features that are offered on the Ripple network.
Many people speculate that XRP will become the world’s bridge currency because of its banking partnerships and focus on creation of CBDCs, or Central Bank Digital Currencies.
What is a CBDC (Central Bank Digital Currency?)
A central bank digital currency (CBDC) is a type of centralized virtual currency that emulates most of the functions of a real national currency, but is issued by a central bank. This would be an alternative to paper currencies that are printed and distributed by government-controlled institutions.
Central Bank Digital Currencies (CBDCs) have been gaining interest lately because they give nations more control over their monetary policy decisions while also providing valuable information on economic trends so they can make better predictions about inflation rates or how to decide monetary policies.
What is a Bridge Asset?
A bridge asset is what makes it possible for XRP to operate in a system where each country has its own CBDC.
XRP is a universal bridge asset that will allow people to move value as quickly as we move data today, leaving behind the traditional banking system and reducing the need for foreign currencies on account of being able to use one universal currency worldwide.
The XRP digital currency offers fast transactions and low fees that can process 1500 transactions per second which makes it the best choice for processing international payments, remittances and micropayments in emerging markets such as Brazil, India or Nigeria.
XRP vs. SEC
In December of 2020, the SEC attempted to dismantle the progress of XRP and the Ripple community by ushering in a lawsuit against Ripple co-founders Brad Garlinghouse and Chris Larsen.
Time is still to early to tell but there are already indications that the SEC is fumbling the ball and having troubles bringing any type of real argument to the case.
Long-term analysts who frequently disagree are starting to both say XRP is entering extremely bullish territory and is expected to break past all time highs without much struggle if the current trends continue.
We aren’t giving investment advice but there may not be a better time to buy XRP for a long-term play.
None of what we are saying is financial advice. Make sure if you do trade that you come up with a game plan and never ever spend more than you’re willing to lose. Also, never chase after losses. Expect to have up-and-down markets, be patient, learn market cycles and keep progressing with your overall education. This is the only way to become a successful crypto trader. We support you 100%!
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