• Good things about Ripple (XRP)
1. How ripple works ?
Ripple is a cryptocurrency which is created by banks to transfer assets or money which is based on ripple or XRP to all over the world. The cool thing about ripple is, if you want to send money to someone with less transaction fee then you can send your money to that person sitting on anywhere around the world with very less transaction fee with the help of ripple or xrp cryptocurrency.
2. How ripple is different from bank system ?
The main problem with the usual bank is that, it takes large amount of transaction fee for transferring money and takes upto 3-5 days to deliver that money where you want to send but with using ripple this problems can be solved.
3. Ripple Partnerships :
Because of ripple made by the Banks, the ripple trying to partners with all big banks and we all know that banks are having huge amount of money so if any big bank partnered with ripple then there will be huge money coming into ripple that can be increase the value of ripple.
• Bad Things about Ripple (XRP)
1. Understand the price of ripple :
Many of the people thinks that ripple is having very less price than other top cryptocurrencies like bitcoin or ethereum and if ripple goes to that price like 100$ or 1000$ or even 20000$ then they will get huge profit from that but if we look practically then this may not be possible because any crypto having their price is because there circulating supply and its market cap so if we saw saw ripples circulating supply on coinmarketcap.com its about 40 Billion and total supply of 100 Billions and the supply of bitcoin and ethereum is very less than ripple so it cant compares of that price with top crytocurrencies.
2. Ripple is Centralized coin :
The main advantage of blockchain technology is keep all things decentralized and this will helps to our privacy but although ripple is using blockchain technology but it is not decentralized. The main thing which makes ripple centralized is ripples team own almost 70% of circulating supply which means if they want to dump the ripples price then they can dump it very easily and if they want to pump the price of ripple then they can do this also. The ripples team having the power for manipulating the price of ripple.
Should you invest in ripple ?
We all know that investing in any crypto is risky because of the high volatility in the market but if we compare risk factor with ripple and other top cryptocurrencies then ripple is having high risk than other crypto because of their centralization and most of the big crypto investor don’t likes the centralization in crypto market and because of the 70% coin own by the ripple, there is high risk to investing such a coin whose can be manipulate by someone but if you having the better knowledge of technical analysis and you are looking for good position in ripple with short term perspective then you can invest in ripple and always don’t forgot to use stop loss in it.
So that’s it for today and comment me what do you thinks about ripple ?
If you are not followed me then make sure to follow CryptoCover to get latest updates about cryptocurrency.
I think ripple is higher risky coin,because of centralized as it is controlled by banks,what do u say?
yes brother ripple is risky but you can get short-term profit by trading in ripple and don't forgot to use stop loss
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