• XRP is a cryptocurrency that powers Ripple’s decentralized, public blockchain (called the XRP Ledger).
• Last trading at just under $0.39 per token, it has pulled about 2.5% lower on the day amid a modest pullback in broader cryptocurrency prices from recent highs.
• Positive news of Ripple securing a new business partner in the UAE led to resistance from a downtrend linking highs going all the way back to last September.
Recent News About XRP
Ripple recently secured a new business partner in the United Arab Emirates (UAE). Joyalukkas Exchange announced that it will be using Ripple’s XRP-based On-Demand Liquidity product to optimize cross-border payments and facilitate faster transactions. This news gave rise to some optimism, but was met with resistance from a downtrend stretching all the way back to last September.
Price Predictions for XRP
Crypto YouTuber Myles G Investments believes that XRP is “probably going to be one of the best-performing coins this year” as it appears to be starting to break out of its bear market. Another popular YouTuber Crypto King believes that if Ripple wins its court case against US Securities and Exchange Commission, then there could be 100x potential for XRP price growth.
Is It Too Late To Buy XRP?
The right question is not whether it is too late to buy an asset, but rather whether an asset should be bought or not – depending on how an investor judges its long-term price performance outlook. If you believe that XRP presents good risk-reward prospects at current prices and could potentially rise substantially in price over time then it may be worth buying some now. But if you don’t think so then it might be better to stay away from investing in XRP now.
XRP Alternatives To Consider
If traders are looking for quicker gains, they may want to consider other high-potential tokens such as those being sold in pre-sale by promising up-and-coming projects with strong fundamentals which could offer higher returns than existing tokens such as XRP