Reasons why XRP can perform very well in this alt season
XRP has always been one of the important coins that I have been holding in my portfolio for a very long time. I bought the initial set when I entered crypto and after that, I again bought some more XRP and have been trading them regularly. I have not made enough profits yet as the initial coins have not even reached the bought price yet. But I'm still holding them tight and having a huge hope on XRP. There are a few reasons for me to believe that XRP will be the next superstar in the altcoin.
Even though I would just be happy if the price of XRP hits 3$ or anywhere less than 5$, many people believe that XRP can have a bright future after the SEC case is over and might see a huge spike after that. I thought then it should be a good opportunity and was curious to buy some more XRP last week during the dip. The price has now recovered back to 54 cents from my bought price of around 49 cents. I have already seen a 5-cent profit on my investment but today I was thinking of a few reasons why I should be holding XRP and not selling it for these small changes.
XRP has limited supply
Unlike some of the other altcoins that have an unlimited supply, XRP has a limited supply and all the coins have been already pre-minted. There is nothing to mine anymore. This is one of the strongest reasons because there will be no new coins created which can increase the value of the existing coins easily. There is a huge hope on XRP and Ripple is also trying hard to fight for it with the SEC.
Winning the lawsuit with SEC
SEC has been a pain for many crypto companies and many exchanges in the US. There have been lawsuits for different reasons. Ripple was also affected by this factor and the price of XRP was affected because of this. After the hearing the price of XRP increased and those who believed in XRP and who had bought them when the price was low had their fortune when the price recovered back. There are still ongoing issues with SEC which I hope Ripple should be able to solve and if it solves, the price would again go up.
Ripple is the biggest holder of XRP
Many people confuse Ripple with XRP. We have to understand that XRP is a decentralized token and Ripple is the company that created it and has been holding a major share of XRP tokens for its operations. Ripple is offering many services and many banks are using XRP for their overseas transactions. XRP is the native token of the decentralized blockchain XRP Ledger. It is always confusing because Ripple Labs is using XRP for their overseas transactions and cross-border remittances. They use XRP because it helps in facilitating trustless and instant payment with the help of the blockchain and that does save a lot of time and money for doing transactions worldwide.
The overall prediction is that there will be a continuous spike in the price of XRP and if people are bullish, the price can even go over 1 dollar as how it moved from 41 cents to 54 cents now at the time of writing this article. I see XRP as a great investment because there are some good use cases available for XRP which many banks and financial institutions are already using.
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XRP has been doing well for a reasonable number of weeks now. If it continues this way, it is possible for it to get to $3
It's true that we haven't seen an increase in its price yet, so even then we should buy it because this project is very strong and has performed very well in the past.
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I believe resolving the legal issues with the SEC could significantly boost XRP's price and market sentiment. Overcoming regulatory hurdles can also lead to increased investor confidence and pave the way for broader adoption and growth in XRP's value.
interesting, the limited supply is very important because we often see the inflation cause massive value drop.
I think I'm going to invest some as well
My major prediction for xrp will Definitely be something like $2 or even more. But let's wait and see
Xrp has become more important after winning the case against SEC, it has many eyes on it.
As i think XRP may perform well in the upcoming alt season due to its limited supply, its potential resolution of the SEC lawsuit, and also the Ripple's use of XRP for cross-border transactions.
I had ripple at really good price. Then steemit went kaput and I lost interest. Now binance does not work and I cant see what all I hold 😁
The 2FA mobile too has conked off