The last decade has been pretty much a rollercoaster ride for the crypto industry as a sudden rise in the prices helped crypto enthusiasts to build their firm digital assets. Today, these digital assets do not leave the opportunity to yield significant benefits for their owners but benefits such as bitcoin insurance still remain. Blockchain technology and the prominence of cryptocurrency have enabled new users to establish themselves in this ever-expanding market. One such cryptocurrency that has defied all odds is Ripple which is also known as XRP.
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Volatility seems to be an integral part of the cryptocurrency
The year 2021 has been quite favorable for Ripple as it witnessed significant growth which was much needed for it to stay alive in the crypto industry. The volatility is still there and the sudden rise & fall in the prices seem to be an inescapable reality. Markets do not like such volatility and XRP tokens have witnessed a significant shift from their recent growth. Hence, it is advisable for the users not to rely on a single cryptocurrency as it can be quite debilitating to your digital assets.
Rise & Fall in prices may not be the only factor that you should look after
A recent 70% downfall in Ripple was recorded right after the digital currency’s short time increase. Cryptocurrency markets cannot be sure about anything which makes them highly turbulent, however, Ripple’s overall price seems to touch $3 very soon which is a great comeback. Will study this trend profoundly to help you gain a close view into this matter. Ripple had been on the red for quite some time now which is not a very good sign for the cryptocurrency as a whole. Analysts believe that the recovery will soon be registered which will eventually cover for the recent fall.
Where does Ripple stand when leading cryptocurrencies are taken into account?
Ripple stands nowhere in sight when Bitcoin & Ethereum are taken into account as the latter digital currencies have made significant progress in the last couple of years. Ripple aims to compete with such mainstream cryptocurrencies very soon in the future once it regains its momentum. Now, people are constantly exposed to dynamic & disruptive forces of technology which might not be a very ideal situation if we address it from a trader’s perspective. They are bound to get overwhelmed with a deluge of such digital assets that it is nearly impossible to be 100% sure about any investment at this stage.
Revolutionary technology seems to make an impression on the personal lives
The recent introduction of Metaverse, Web 3.0, smart contracts & NFTs have made the market extremely competitive and almost impossible to navigate if you are one of the inexperienced traders. Metaverse is being highly regarded as one of the prominent factors that will be able to drive innovation as well as the rise of digital currencies like Ripple. Currently, the market is highly volatile considering the geopolitical tensions that do not seem to dissipate anytime soon. Hence, traders & investors have to be very careful about the changes and must be wary of all the inherent risks that this volatile market has in store for them.
This year, 2022 seems to be highly promising for Ripple as it has garnered a strong community over the years that is now in full motion and the support continues to get stronger with each day passing by. Investors are optimistic about the currency’s growth and they are also willing to invest in Ripple considering the challenges that XRP tokens have been able to overcome in the last couple of months. The fall in the prices of cryptocurrency is a harsh reality and it is something that can’t be averted. Defying the odds has been one of the specialties of Ripple and now it continues to leave an indelible imprint on the market. So the future is secured for Ripple as long as it maintains the easy services and ease-of-use features under its belt.
