XRP is the native token of the blockchain-based digital payment network, Ripple. The XRP token is among the well-known altcoins in the market.
Ripple allows users to send money at a low fee, which is one of several reasons why it has piqued the interest of banks as well as retail customers.
However, similar to other digital assets in the world, XRP has also been seeing some drastic price fluctuations and seems to be stuck in a downward momentum over the last few days. The altcoin is currently trading at $0.504 (at the time of writing) and has seen a 3.00% drop in the last hour alone.
This graph by CoinMarketCap shows the price movement of XRP over the last week.
Despite XRP’s price movement, a panel of experts in the crypto industry believes the altcoin will soon see a significant price surge. This is only a prediction at the moment, however, many crypto enthusiasts are positive about it.
If you also want to invest in the altcoin, make sure you opt for the best exchange to buy XRP.
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Can XRP See a Price Surge?
A panel of 36 crypto industry experts was surveyed regarding their expectations of XRP’s price in the future. The experts have predicted major price surges for the XRP token over the next decade.
While the predictions made by the panel are quite positive, they are dependent on how Ripple’s case plays out against the SEC (Securities and Exchange Commission).
If Ripple loses the case, the price of the XRP token is expected to drop to $0.68.
However, if the case is won by Ripple, the price of XRP is expected to:
- Hit $2.25 by the end of 2022
- Surge as high as $3.61 by the end of 2025
- Reach $4.98 by the end of 2030
One of the experts on the panel stated that the technology of the Ripple network is terrific, however, the token is only attracting speculators at the moment because its price is quite low.
It was also noted that:
- 23% of experts suggested people should buy XRP now
- 32% suggested people should unload their holdings
- 45% urged crypto investors to hold what they currently own
XRP is a popular altcoin and many novice parties often want to know “is XRP a good investment?”. It is a good crypto asset for general crypto enthusiasts and is also suitable for different kinds of traders and investors. However, it has a very low price, which is speculated to keep the altcoin from reaching its full potential.
Useful Tips for New Crypto Investors
Bitcoin and Ethereum are the two most popular digital currencies in the market. However, there is a vast variety of altcoins available that include cryptocurrencies such as XRP.
Having so many options but not enough information regarding the crypto space can complicate crypto investing for novice parties. Not knowing which asset to purchase and which exchange to use can complicate the overall experience. It can also put your safety at risk and be stressful and even intimidating.
Therefore, if you are new to the crypto space and want to invest in a crypto asset then you should know the following useful tips.
- Monitor the price movement of the digital asset you want to buy and know when to invest.
- Choose an exchange that is secure and suits your needs the most.
- Start by investing as much as you can afford to lose.
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