Cryptocurrency & Tech Writer.
There are many cryptocurrencies with good potential you can buy in September. However today I will focus on Ripple/XRP which is currently sitting at $0.56
Update: Whilst I was writing this story the price was $0.28, whilst waiting for my story to be published the price grew to over $0.50!
I have updated this story to reflect XRP’s price at the time of publishing. Crypto moves fast!
There are many reasons why Ripple/XRP is a good cryptocurrency to buy and hold, I will list a few of them below:
Fast transactions and very low fees
XRP transactions take about 3 seconds on average which is faster than most cryptocurrencies. Only Nano with instant transactions and Stellar/XLM with 2–4 second transactions are able to compete on speed.
As well as fast transaction speeds, XRP transactions cost a fraction of a cent.
This means you can transfer $5,000 for example, to someone on the other side of the world, for basically nothing, and have it arrive there in only 3 seconds. If you tried to use your bank that would cost at least $25 and take 1 -5 working days.
Ripple is partnered with over 100 banks which includes Santander, American Express and UBS Bank. You might be wondering why Ripple is partnered with so many banks, well it all comes back to XRP.
Since XRP is extremely fast and cheap to use, Ripple plans for banks to use XRP to transfer money across the world to save time and money.
If banks choose to use XRP this will change banking forever, you can say bye to costly international transfers and long waiting times.
XRP is currently the 3rd most valuable cryptocurrency, and it grew by over 35,000% in 2017, at its peak one XRP reached a price of $3.65.
Even though the price has declined (along with all cryptocurrencies in general) it is still going strong compared to last years growth. If you bought XRP in January 2017 you would still be about 46x in profit despite the price correction.
Imagine that, if you had invested $1,000 back then, you would now have $46,000 and you would have had $350,000 at XRP’s highest point. If you invested $5,000, you would have $230,000 today and would have had $1.75 Million at XRP’s highest point.
When Ripple recovers I expect to see a gain of at least 10x which will bring it back to around $2.8 per XRP. Next XRP will most likely rally to a higher value, which is common after a price recovery.
If XRP were to reach $28 that would be a 100x return from today.
XRP’s performance continued
At one point Ripple had a higher marketcap than Ethereum, with XRP hitting a marketcap of $141 Billion at it’s highest point.
Ethereum came closely behind with a marketcap of $134 Billion at it’s highest point.
Ethereum’s position as the 2nd most valuable cryptocurrency was briefly taken over by XRP which is no small feat.
If XRP can continue to perform in a similar manner I can see it being a strong competitor in 2019.
Right now it looks like XRP is entering into the accumulation stage, which is a good time to buy in. The 7 day chart shows a stable movement after a steady decline over 1 month, the price floor could be near.
Ripple has been added to a few cash based exchanges like CEX. This reduces the barrier for entry for new investors and enables XRP to grow even more in value.
It also says a lot if a cash based exchange decides to list an altcoin, since it is not a common occurrence.
If Ripple can reach mass adoption I can see it growing past it’s all time high. We would have banks using insane amounts of XRP to move funds across borders.
We would also have a lot of civilian and investor usage, further driving up demand for XRP.
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