Ripple, also known as XRP, was a prime contender for the spot of the best cryptocurrency in 2017 with growth of around 36,000%! Yes, you read that right. It grew from almost $0 at the beginning of 2017 and reached $2.4 in December 2017 — as you can see in the following chart.
Like all other cryptocurrencies, the price of Ripple has also decreased in 2018 — it is currently set at $0.20.
I know what you’re thinking — you missed a great opportunity by not investing Ripple in early 2017. While that’s true, Ripple could still be a good option to consider as your next cryptocurrency to invest in 2021.
Even though the price of one XRP is a lot lower than the price of one Bitcoin, XRP is still the third-largest cryptocurrency by market cap. In May 2018, it had a total market cap of around $35 billion.
So, what is it about Ripple that has made it so popular for investors?
The main reason for Ripple’s popularity is that it is not just a digital currency, but also a payment system. Ripple uses blockchain technology to make international payments faster and more secure.
If you tried to make an international bank payment today, it would take around 2-10 days for the transaction to process. The same payment, when done using Ripple, takes a few seconds. How awesome is that!
But there’s more good news – many large financial institutions like American Express, JP Morgan and Santander are already using Ripple’s technology. Also, Ripple has been working with the Saudi Arabia Central Bank, China’s LianLian International and other banks from around the world.
So, if you’re wondering how to invest in blockchain, then Ripple might be the best answer.
Based on what I just explained, Ripple’s future in the financial industry could be a good one. You should watch out for Ripple and learn more about their partnerships. Look out for new partnerships too — if Ripple signs a contract with another large bank, then it could increase the price of XRP.
The investors who understood the services that are offered by Ripple have made a lot of money. After a fantastic 2017, Ripple could just be the best cryptocurrency of 2021.
Note: Now might be a good time to invest in Ripple, as its price has dropped 70% lower than it’s an all-time high of $3.4 in January 2017.