What is wrong with XRP?

Moshe Gammel asked, updated on December 10th, 2020; Topic: i was wrong
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XRP has no value In the crypto scene, Ripple is accused of not being a real blockchain. The reasons are that it is centrally controlled, intransparent, isn't mined and is controlled by a company. However, for Ripple's purpose, those are not bad things. ... But the problem lies elsewhere: XRP is only used by banks.

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On the other hand, is XRP coin a good investment?

XRP is a good investment because of the huge potential it has to grow. Its low price makes it a great investment opportunity, and its use through the Ripple network as a token for ultra-quick currency transfers, with ultra-low fees, has seen its use increase amongst multinational banks.

Additionally, what makes XRP valuable? The more banks use it as their transaction platform, the higher the value of XRP. If one day, all the banks decide to start using it as a unified bank currency instead of processing redundant currency exchanges – it will make a nice fortune for all the early birds who invested in Ripple.

Plus, how many XRP coins are left?

XRP is trading for $0.27 per coin today and there's 43,698,224,662 XRP in circulation. Tallying up each coin's worth plus the number of XRP in circulation makes XRP the third largest blockchain by market capitalization.

Can ripple reach $1000?

No, Ripple XRP will never reach $1000. This is because its total circulation is less than 100 billion, which means it would need to have a market capitalisation of $100 trillion in order to hit a price of $1000.

2 Related Questions Answered

Is XRP a con?

While Ripple – the company – is indeed a legitimate one, and their product – their cryptographic financial asset – is also a legitimate one, it's obviously not a scam per se.

How much XRP do I need to retire?

But how much do we need to retire? The answer varies depending on our situation. For some people a nest egg of $500,000 might be enough (especially if you add that on top of any existing assets you own). For others, $1 Million, $2 Million or $5 Million might be their goal.