XRP Long-Term Investment Review: Is Ripple’s Use Case Adoption Rate Growing?
Should You Hodl Your XRP for the Long Term?
Even with multiple big names in the cryptocurrency industry, like Bitcoin, Ethereum, and sometimes TRON, it is clear that Ripple’s coin (XRP) has had a lot of attention, especially lately. Whether they are receiving attention from celebrities or their less famous investors, they keep stealing the spotlight.
Ripple has not come without problems. In fact, there have even been lawsuits involving the parent company of Ripple, but there are still people that believe that this is a good investment for their future. It is presently somehow still one of the most accepted forms of cryptocurrencies around and have added many partners that believe in its strength. The platform is built on the foundation of high scalability, but it also sends transactions within seconds without any high fees to do so.
There have been many banks and related financial institutions that have adopted Ripple’s technology to help their own platforms. In fact, there are some places that Ripple manages to reduce the overall transaction cost by 70%, which makes them a highly sought-after brand. Cross-border transactions take no more than a minute or two, in comparison with bank transfers that can take several business days. As Ripple becomes more mainstream for the standard financial industry, it would be appropriate to believe that other products and companies could welcome it as well.
The use cases for Ripple are becoming a little shocking, especially with a new initiative called xPring. The team for this development has been working to make the coin available within other industries beyond cryptocurrency, like media, gaming, real estate, trade, identity, micro-payments, and other areas. Even if Ripple only gets halfway to that point, they are still miles ahead of the other coins in the industry.
One of the main disadvantages that newcomers to Ripple may notice is the poor price performance. Even though Ripple managed to reach a few dollars high in their price, the massive market drops recently took its toll. Though there have been other companies that have suffered declines of 70% to 80%, Ripple’s percentage was much higher at above 90% of its greatest high. However, experts believe that it is due for a comeback, considering all of the different use-cases and technology it holds.
Realistically, every coin is suffering right now. However, the advantage that Ripple has right now is that there are so many other benefits that Ripple offers that there is no reason to expect it to completely fall off the radar.
Their technology and other benefits are too substantial for it to wither, which means that individuals that invest might need to wait out this low time. Unfortunately, there are plenty of uninformed consumers that have chosen to blame their losses directly on Ripple itself, suing them for fraud when they should be learning more about how this market works.