“The Best Ripple Investment Strategy for 2020” – Content:
- What is Ripple?
- How has Ripple grown since its founding?
- News that affects the price of Ripple
- Ripple Investment Strategy for 2020
What is Ripple?
Ripple was founded in 2012 to solve the cross-border payments problem. So it was complicated to transfer money to another country. It is a real-time blockchain based gross settlement system, currency exchange and remittance network. It connects banks and other big institutions and allows them to transfer money and other assets through this network.
What makes Ripple good is the short transaction time and that it is already in use. So Ripple is much faster compared to the other major cryptocurrencies, like Bitcoin or Ethereum. Also, half of the Ripple supply is owned by the company itself.
How has Ripple grown since its founding?
Ripple had a slow start at the beginning. At the start of 2017, Ripple started to grow enormously. A lot of people argue that 200 corporate partnerships are the reason for this huge growth. From 2013, with a value of $0.005882 Ripple increased his value per coin to $0.30. So it grew by almost 4000 percent.
From 2013 to 2020, the highest price point was 3.23 dollars before falling to the current value. But that shows that there is still a lot of room to grow.
News that affects the price of Ripple
So the EFA predicts that the price of Ripple might drop even further. They think that Ripple is pretty much useless and most of the banks will stop using them.
Ripple Coin News, on the other hand, predicts a successful year for Ripple. They expect a price of 7 dollars. The reason for that is the new partnerships and new technologies.
Overall the most sources and experts believe that XRP could skyrocket in 2020. Now, what is our Ripple investment strategy for 2020?
Ripple Investment Strategy for 2020
If we look at Ripple’s graph since the big drop at the beginning of 2018 the price of a coin has stabilized. Meanwhile, the value is increasing steady. It is not a very huge rise but it is going up. So it looks like 0,50 dollar is a big resistance line for Ripple. And at the 0,28 dollars line, there is a huge support line for Ripple.
But not only the trend lines will have an effect on our investment strategy. Big events will be able to push Ripple’s price up or down. But they have already announced great deals that may have a positive effect on the Ripple investment strategy for 2020. For example, Ripple’s payment app, a new processing technology, China will probably use Ripples payment system, big new partners will join and so on.
As we can see, the future for Ripple looks great. Of course, there could be big events like regulations who can lead to a big drop. But overall the sign looks positive. Looking at the graph and the events in 2020, it can be assumed that ripple will reach $ 0.50.