Ripple is currently holding above the key $0.20 support level against the US Dollar, and it seems to be getting ready for the next major break in the coming sessions. So, if you want to buy Ripple, the current price level depicts good value, and now could be the ideal time to buy this cryptocurrency.
Although the price of XRP is still not close to the price predictions for 2020, Ripple has a plausible risk/reward ratio on the crypto market. And investors in this cryptocurrency stand to gain a lot more for taking comparatively lower risk.
Recent developments and expectations for Ripple
Ripple has also recorded an increase in the number of new clients, and most importantly, many financial institutions are now using the Ripple protocol to transfer money. Meanwhile, Japan-based SBI Holdings have moved Ripple into the frontline of the Japanese e-sports gaming industry.
This development will enable professional esports gamers to receive payments in XRP, which will further add value to this cryptocurrency. MoneyGram and Banco do Brasil have also disclosed new partnership deals in Switzerland and North Africa. With these two companies partnering with Ripple, it will propel more financial institutions to adopt Ripple’s cross-border payment system.
In addition to that, Brad Garlinghouse (CEO of Ripple) expects the transaction volumes of the cryptocurrency to increase multiple times in 2021. He also expects the customer base to increase by 30-40%.
Once this happens, the price of XRP will be at higher levels, and that could also position it as one of the best performers on the crypto market in the upcoming session.
If the price moves above $0.26, it would be a signal to buy XRP. But if the price falls in the upcoming period, every price in a range from $0.15 – $0.20 could also be a very good opportunity to trade the cryptocurrency.
In conclusion, if the current price level convinces you of great value for what you pay, you can go ahead and buy Ripple. Interestingly, more than a third of the world’s 100 largest banks have started using this payment system already.