The year is coming to an end, and you may be thinking about how to end it in the best possible way. Looking at the trend of things, one of the best ways to end your year may be to buy some cryptocurrencies. You might say that Bitcoin is the only reliable cryptocurrency and is already too expensive to buy. That is true in a way, but there are altcoins that could bring you tons of rewards if you wait long enough. Today, we will consider one of such altcoins, XRP. We will take you through its analysis and price prediction so that you can learn enough about it to invest safely in December 2020.
Ripple (XRP) Overview
XRP is the native cryptocurrency that powers the decentralized ledger of the remittance company Ripple. It is the 4th largest cryptocurrency by market capitalization and one of the most used for cross-border remittance settlement in the world. There is a total supply of XRP of over 99 billion tokens and a circulating supply of 45,328,155,123. As the 4th largest cryptocurrency, it has a market capitalization of $13,226,295,462, and $4,945,572,568 worth have been traded in the last 24 hours.
Unlike other cryptocurrencies like Bitcoin and Ethereum, XRP cannot be mined, first because they are not based on blockchain technology but rather on a technology known as Decentralized Ledger Technology. In other words, the Ripple network is really just a ledger that keeps a record of transactions that are performed using XRP.
Ripple boasts of having more than 200 institutional clients who have millions of customers all over the world that use its services. Ripple facilitates cross-border payments that are cheap, efficient, and instant, unlike legacy remittance settlement companies, such as Western Union, that take days to settle the payment at very high costs.
Ripple (XRP) Price Prediction: Analysis
XRP price has been quite unstable in 2020. After hitting a year high of $0.336 in February, the cryptocurrency experienced a huge dip that shaved off over 50% of the years high price on March 13. The recovery from this did not last before another ...
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