XRP Surge: Is it a Golden Opportunity for Investors or a Trap?
In the past week, XRP has gone insane in the cryptocurrency market. It has risen nearly 30% in a week, over 60% in a month, and about 500% in a year, breaking through $3 and setting a historic high, attracting the attention of global investors. The most pressing question now is whether XRP is worth investing in, and what is the appropriate entry price? Actually, it depends on how much risk you can bear and whether you have a long-term investment perspective.
Why is XRP rising so rapidly?
Legal Troubles are Resolved
Ripple previously had a contentious relationship with the U.S. Securities and Exchange Commission, but they have finally reached a settlement with a fine of $50 million. For a project as large as Ripple, this fine is insignificant. With no legal worries, Ripple can expand its collaborations and attract institutional investors, significantly improving its image in the global financial market.
Traditional Financial Industry is Starting to Accept It
Previously, Ripple struggled with partnerships with major banks, but that is no longer the case. Many banks in emerging markets are beginning to use its technology for cross-border transfers, such as Brazil's Travelex Bank and India's Axis Bank, both of which are its partners. With these collaborations, Ripple can enter the cross-border transaction market, which exceeds $200 trillion, and it is expected to grow to nearly $300 trillion by 2030.
Is it Still Worth Buying XRP Below $10?
XRP remains quite attractive as long as it is below $10. If it rises to $10, its market cap could reach about $600 billion. If Ripple can capture 1% of the global payment system (like SWIFT), this valuation seems reasonable. After all, SWIFT processes transactions worth more than $50 trillion daily; if Ripple can handle 1% of that, XRP's market cap could potentially far exceed $10.
Now that the market has completed its adjustment, the altcoin bull market will soon begin. I have carefully selected a cryptocurrency for you, with an expected growth potential of over 10 times, so leave a comment + like for a free share!