5 Reasons Why Ripple Can Turn out to be a Great Investment in 2021

By May 27, 2021March 29th, 20225 minute read
Top reasons why Ripple can turn out to be a great investment in 2021 - WazirX Blog

Note: This blog is written by an external blogger. The views and opinions expressed within this post belong solely to the author.

Ripple is the brand that developed the Ripple Consensus Ledger. Ripple serves as both a platform and a currency (XRP) in this way. Ripple creators employ an open-source protocol to give a variety of benefits to users. Secure, quick, and low-cost transactions are among the advantages.

Ripple (XRP) was first created in 2012 as a cryptocurrency and an online payment network for monetary operations. Ripple is the world’s only centralized cryptocurrency that is closely related to the banking industry. 

In this post, we share every vital detail you should know about Ripple, especially if you are thinking about how to buy Ripple in India.

Anticipation for Ripple in 2021: Will it turn out to be a great investment?

Understanding Ripple’s history over the last few years is critical to determine if the coin is still a viable investment in 2021 and is a prerequisite before understanding how to buy Ripple in India.  

HDFC Bank Limited (HDB), India’s largest bank, announced its participation in RippleNet in August 2020. After years of conjecture and rumors, Ripple revealed its partnership with Bank of America (BAC) in November, confirming that the US second-largest bank had now become a RippleNet client. 

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It’s also crucial to figure out if you’re the right person to keep and trade XRP and if the coin suits your needs and desires. 

XRP is suitable for different traders and investors. It’s a fine cryptocoin for essential cryptocurrency enthusiasts because it’s an altcoin — that is, it’s not Bitcoin — but it’s still respected and grounded enough to be considered a top-five coin with a thriving sector.

At the same time, since XRP is a coin targeted at conventional financial institutions, it is a good investment for thematic investors in the financial sector. This means that anyone interested in investing in the future of transactions and payments should consider XRP.

Furthermore, some aspects that influence the XRP token are distinct from those that influence other cryptocurrencies. As a result, when investing in other currencies, it could be used as a hedging strategy.

Finally, and perhaps most importantly, XRP is a highly volatile commodity that is ideal for day traders because it offers many short-term trading opportunities, both for long and short positions.

The next step in determining if you should know before how to buy Ripple in India for you in 2021 is to observe how the market changes and make sure you keep an eye on the value of 1 Ripple to INR while noticing the market since the price of Ripple doesn’t stay constant like any other cryptocurrency.

We will be now covering five reasons why Ripple could be a potentially great investment in 2021:

  1. Cooperation with financial institutions

Ripple is favored by banks and financial institutions more than any other cryptocurrency. As a result, it ensures that more global industries use it. Another benefit of this special relationship with banks is their relative insusceptibility to modifying cryptographic money guidelines throughout the world due to their firms and partnerships with such financial institutions.

  1. Transaction Procedure

Ripple’s transaction protocol is used for a variety of things, like transferring and receiving cryptocurrencies, fiat currencies, and details. This protocol can handle massive transactions all over the world and has lower transaction fees.

  1. Fees are minimal

Ripple, unlike other cryptocurrencies, has a fast transaction period. In addition to this benefit, Ripple has a relatively low transaction cost, making it an excellent cryptocurrency for trading. Ripple has attracted the attention of various big financial fishes worldwide due to its decentralized nature. 

  1. Scalability

The price of Ripple is expected to rise in the coming months. It’s almost like it has and will continue to have no relationship with external market shocks or price volatility. Ripple stands apart from other cryptocurrencies because it is centrally managed and arguably more efficient and adopted.

  1. Price Action So Far

Since its inception, Ripple has been playing a brilliant game. The price of Ripple has risen in tandem with the price of other cryptocurrencies, but it delivered exceptional returns in 2021 after news of its incoming SEC case win broke. Investing in Ripple will help you receive a decent ROI in the future, as it is being embraced globally.

Price of Ripple

Price of ripple
Source – coingecko

If you are wondering how to buy Ripple in India, you should make sure you are aware of the current price of Ripple and the tokenomics. You may notice the value of 1 Ripple to INR, and the price of Ripple is constantly fluctuating, which happens for many reasons.

As of May  2021, the value of 1 Ripple to INR is in the 56 INR range. Worth noting that it has  dropped about -44% in the last 30 days. The highest price of XRP versus the Indian Rupee in the last 30 days was 1.75 Indian Rupee, while the lowest was about 51 INR. It now has a circulating supply of 46.1 billion coins.

How to buy Ripple in India

After understanding everything stated before, if you are ready to know how to buy Ripple in India, then the first thing you should decide upon is selecting the right cryptocurrency exchange platform. Pick a large cryptocurrency exchange that offers many different cryptocurrency trading pairings. As a result, you will be able to have a diverse asset portfolio in the Indian market.

Below is the step-by-step process on how to buy Ripple in India through an exchange platform:

  1. Go to the exchange platform and register your account.
  2. After you’ve registered, enable two-factor authentication.
  3. Deposit funds.
  4. Find the XRP/INR market and buy.

For a detailed explanation, check out this guide to buy Ripple in India.

Conclusion

We have now covered the top five reasons in motion of the potential of Ripple turning out to be a great investment in 2021; as more financial institutions exhibit interest in joining the RippleNet, Ripple appears to have a bright future ahead of it. Hopefully, this post will be successful in helping you to understand everything you need to know about why Ripple can turn out to be a great investment this year and how to buy Ripple in India.

Further Reading:

How to Buy Ripple (XRP)

What is Ripple (XRP)

What are the Differences Between Bitcoin and Ripple?

What are the Differences Between Ripple (XRP) and Ethereum (ETH)?

5 Ripple (XRP) Myths you Should Stop Believing

8 Benefits Of Investing In Ripple (XRP)

Difference between Litecoin (LTC) and Ripple (XRP)

How to buy Bitcoin in India?

What Is Virtual Currency?

Virtual currency is a type of uncontrolled digital currency that can only be used online. It is exclusively stored and transacted using designated software, mobile or computer applications, or unique digital wallets, and all transactions are conducted through secure, dedicated networks. Because digital currency is just currency issued by a bank in digital form, virtual currency is not the same as a digital currency. Virtual currency, unlike ordinary money, is based on a trust structure and cannot be issued by a central bank or other banking regulatory organization.

What Is Crypto?

Crypto or a cryptocurrency is a digital currency protected by cryptography, making counterfeiting and double-spending nearly impossible. Blockchain technology is used to produce cryptocurrencies (a distributed ledger enforced by a distributed network of computers). Cryptocurrencies are distinct in that a government does not issue them. The word "cryptocurrency" refers to the encryption methods employed to keep digital currencies and the network secure.

Is Ethereum Safe To Invest?

The Bitcoin market is unquestionably more volatile than the stock market. This may not be the market for you if you are incredibly risk-averse. Ethereum, on the other hand, may be a terrific investment for you if you're a diamond-handed investor who won't lose sight of short-term losses. Ethereum is a relatively safe investment as it is also based on blockchain.

How To Invest In Bitcoin?

Bitcoin may be invested in two ways: through mining or exchanges. Bitcoin mining is carried out by high-powered computers that solve challenging computational arithmetic problems that are too difficult to complete by hand and complex enough to tax even the most powerful computers. WazirX, a Bitcoin exchange, is another alternative.

Is Cryptocurrency Banned In India?

No, cryptocurrency is not banned in India. India has seen its ups and downs in the crypto sector concerning its legal status. The Reserve Bank of India (RBI) issued a circular in April 2018 advising all organizations under its jurisdiction not to trade in virtual currencies or provide services to assist anyone in dealing with or settling them. A government committee proposed outlawing all private cryptocurrencies in mid-2019, with up to ten years in prison and severe penalties for anyone dealing in digital currency. The Supreme Court overruled the RBI's circular in March 2020, allowing banks to undertake cryptocurrency transactions from dealers and exchanges.

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
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Shashank

Shashank

Shashank is an ETH maximalist who bought his first crypto in 2013. He's also a digital marketing entrepreneur, a cosmology enthusiast, and DJ.

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