Are more than 33% from 52 weeks high, or is the right time to buy XRP now?

The XRP has increased after last year’s presidential election, but has slowed down drastically in recent months.
Approval of the Fund traded at the Spot Spot XRP can take place this year.
10 shares we like better than XRP ›

XRP (Crypto: XRP) It has been one of the hottest cryptocurrencies in recent years, but has been declining in recent months. On Monday, it traded around $ 2.26, which is more than 33%compared to the highest-3.39 US $ 52.

Are many promises related to cryptocurrencies and its ability to add efficiency and change global payment networks, can it be the right time to start or include XRP?

Image Source: Getty Images.

The XRP has not been much excitement in the last three months. At that time (from June 16) the digital currency decreased by about 2%while Bitcoin increased almost 30%. But if you increase for a longer period of time, then you can see that it has been a much stronger cryptocurrency in the last 12 months.

XRP price chart — XRP and Bitcoin data provided Ycharts.

After the victory and expectations of Donald Trump’s presidential election, the XRP appeared last year for the calmer regulation of cryptocurrency. However, there has been no positive news lately to give the coins a impetus, which can explain the lull; Crypto Investors can be just by holding. But it may soon change.

The big event that investors now awaits is the approval of the Spot Cance XRP market (ETF). As one of the most valuable cryptocurrencies in the top boundary of the market, it can only be a matter of time for the XRP to get its Spot ETF, following both Bitcoin and Bitcoin in the footsteps Ethereum; Analysts believe that there are 85% chance it will receive confirmation this year.

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At about $ 132 billion to the top of the market, although it is one of the best cryptocurrencies in the world, it is far behind Bitcoin, which is more than $ 2.1 trillion. Even Ethereum has more than the double XRP market top – about $ 320 billion.

Unlike many other digital currencies, XRP has practical use, and the high-profile improvement of cross-border transactions, reducing processing and reducing costs. Ripple, which created it, cooperates with several banks, and here is a clear possibility that XRP does not necessarily disrupt financial institutions but work with them.

Spot ETF approval can be what it takes to further legalize XRP investors in the eyes. Giving them a simple way to invest in a promising digital currency, it can only be what it takes to arouse a rally. It seems that a big question only arises when and when it happens.

There is a good chance that the XRP receives confirmation for the Spot ETF in the near future, but it may also mean that investors have already priced it into cryptocurrency assessment. Digital chips grow in new catalysts and changes, and if the expectations are high that the approval is presented, XRP may not necessarily increase the news. Often this is the case when “buy rumor, sell news” and, if this is the case, the XRP value may even decrease on the spot with ETF approval.

However, if you like the risk of cryptocurrency, it may not be a bad place to invest a modest investment. Eventually, regardless of when the Spot ETF approval, the XRP has a lot of potential and has increased the most important financial world.

However, with so much regulatory, economic and political factors that can affect the activities of digital currency, it is not necessarily a real bet quickly to get rid of the value, so you may need a lot of patience.

Consider this before buying XRP:

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David Jagielski has no position in any of the above shares. Motley fool is a position and recommends Bitcoin, Ethereum and XRP. The Motley fool has a disclosure policy.

Are more than 33% from 52 weeks high, or is the right time to buy XRP now? initially released by The Motley Fool

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