Irrespective of XRP’s lackluster performance over the previous several months, the cryptocurrency incurred a massive influx of purchasing pressure yesterday that instantly led it to surge to fresh year-to-date highs in the reduced -$0.40 area, where it has discovered some degrees of immunity that have proven to be hard to break over.
Ripple and XRP
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It’s reasonable to say that XRP has suffered a volatile cost ride over recent months but it is in these sorts of conditions that you can make money. In addition, it is clear there will not be one cryptocurrency which will reign supreme. Each entrant into the marketplace is likely to provide solutions to different issues. For that reason, it’s well worth considering other currencies than just bitcoin. In addition to being a cryptocurrency, it’s also a payment system. In addition, it does not have a blockchain. Instead, it employs the Ripple protocol consensus algorithm, so all trades have to be confirmed by each node before they could proceed. This makes it rather exciting for investors and is part of the reason why demand for Ripple has increased lately. It is now trading at $0.359, using a market cap of $14.66 billion. Like bitcoin, Ripple has suffered a sharp price correction in the last 12 months, but there are indications that it will recover. I know what you’re thinking. Bitcoin is overly pricey. Benefit from the fact that this single sentiment (it’s too expensive) keeps many people from purchasing any Crypto, and creates an early entrance situation for you so you are able to take advantage of reduced prices. And, at least purchasing Bitcoin is now instant on Coinbase if you’ve completed the basic confirmation.
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