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2021 was a remarkable year for crypto investors. Some of the top cryptocurrencies have brought great returns to investors in Brulan, which launched in March 2020. Today, even the most skeptical investors are beginning to consider cryptocurrencies as a viable alternative asset class. Institutional investors are also beginning to participate in the conflict at a good pace.
Investing in technology stocks Although a major trend in recent years, crypto space may offer another opportunity to invest in assets that can be delivered quickly. Wealth growth..
Investing in cryptocurrencies is very dangerous as it is still a speculative asset class. However, it is not advisable to completely ignore this space as cryptocurrencies are attracting attention from investors around the world.
Ripple (CRYPTO: XRP) is one of the assets you want to leave on your radar if you are looking for a cryptocurrency to invest this year. Today, I’ll explain why this altcoin can be a great investment for investors looking to boost their confidence in crypto trading.
Altcoin with good potential for widespread adoption
Ripple Labs is the name of the company behind the creation of XRP, a native token that resides on the Ripple blockchain network. Ripple has the potential to be widely adopted worldwide for several reasons. RippleNet is a payment solution platform that runs on the Ripple blockchain network that enables the flow of capital via XRP tokens.
Currently, several financial institutions in more than 55 countries are using the XRP blockchain network to facilitate trading with fast trading hours. Ripple has also partnered with Japan’s leading money transfer service company, SBI Remit, to facilitate low-cost, rapid cross-border payments with Coins.ph, a mobile wallet service provider based in the Philippines.
According to Ripple, Filipino workers employed in Japan repatriate up to US $ 1.8 billion annually. The partnership with Ripple will facilitate faster and more cost-effective transfers for Japanese-based Filipino workers.
RippleNet is also seen as a viable alternative to cross-border transactions by the Society for International Banking Communications (SWIFT). SWIFT is the traditional network used by banks. The average transaction over SWIFT can take an additional day or more, but this is the most widely used method. SWIFT launched SWIFT GO to compete with RippleNet and not overtake SWIFT’s market share.
Stupid takeaway
Given the immense potential of the Ripple blockchain network, it’s amazing to see that XRP isn’t a bigger cryptocurrency than it already has. At the time of writing, XRP boasts a market capitalization of US $ 36.27 billion. This is the only enterprise blockchain company in the field of cryptocurrencies.
In 2020, the US Securities and Exchange Commission (SEC) began investigating Ripple Labs after its executives were alleged to have raised $ 1.3 billion from the sale of XRP tokens as unregistered securities. The company’s management claims that XRP is a US dollar-like asset and cannot be considered a security.
If the investigation ends this year, XRP could gain considerable momentum in the coming months.that is Risky investment It should be considered, but it may be worth allocating a small portion of the investment capital to Ripple.
