xrp crypto value

XRP-USD: Ripple Can’t Hold a Candle to Bitcoin or Ethereum

With All These Delistings, There's Just No Good Reason to Buy Ripple
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price ripple (CCC:XRP-USD) rose on March 22 after the parent company of the cryptocurrency, Ripple LabsHe broke with her lawsuit with the Securities and Exchange Commission (SEC).

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Justice of the Peace Sarah Netbourne said so Investors outside of Ripple Labs No illegal securities are traded. As a result, cryptocurrency exchanges can resume listing XRP-USD tokens.

While the price of XRP-USD jumped after the news, it fell back below 48 cents by March 25th. At the time of publication, it is trading at around 57 cents. Like most cryptocurrencies, volatility is their strong solution.

Ripple Labs recently released a report on Central bank digital currencies The CBDCs that have proposed XRP-USD are a good example of a neutral bridge asset that governments can use to get money to the unbanked quickly and efficiently.

While I have no doubts that cryptocurrency can play a major role in the future of banking, as an investment, it remains the seventh largest cryptocurrency abroad. If you are going to move some of your green coins into cryptocurrency, XRP -USD will not be my first choice.

Here’s why.

Buy XRP-USD as Cryptocurrency

In my recent article about Ripple, I mentioned that it is facing a steep slope, climb uphill As a company and as a cryptocurrency. Regardless of the judge’s comments, I still feel that way.

The value of the cryptocurrency has increased by 141% since the beginning of the year. However, there is still a long way to go absolutely high $3.40. There is no doubt that those who bought at the beginning of 2021 are pleased with the result.

referees Actual comments It should provide hope for those inside and outside the Ripple Labs.

“My understanding about XRP is that it not only has a currency value but it has a utility and this tool sets it apart from Bitcoin and Ether,” the judge stated at the latest court hearing in the SEC’s lawsuit against the company.

Therefore, if the judge’s assumption is taken at face value, both XRP-USD and Ripple Labs will have a future.

The problem is that the Securities and Exchange Commission found that the people behind Ripple Labs were the only ones who committed illegal securities trading. If this proves true, it may be impossible to recover from the damage to the company’s reputation.

If the company disappears, what will happen to the cryptocurrency?

Mine Investor His colleague, Josh Enomoto, who already owns XRP-USD, says that if the company cannot successfully prove it Ripple is decentralized, will be in a world of harm.

“[T]The SEC will continue to refine the centralization argument. Frankly, it doesn’t look good that the protocol appears to be centralized – this has been a long critique of Ripple,” Enomoto wrote on March 26.

“Here’s why it matters: If Ripple distributes XRP-USD with the sole purpose of raising capital for its business and giving the impression that investors can benefit from a valuation increase, how is that different from publicly traded securities?”

It ends with the suggestion that Ripple Labs’ best argument is that the Ripple token has always served as a channel for fast and efficient financial transactions, thus providing real benefit to token holders.

Needless to say, the future is still up in the air until the SEC lawsuit is settled.

Bitcoin or Ethereum makes more sense

If you are going to invest in cryptocurrency, my opinion is that you either buy it Bitcoin (CCC:BTC-USD) or Ethereum (CCC:ETH-USD). Bitcoin remains the only true example that has reality value storage; Ethereum, while not a store of value, is likely to continue to rise due to its utilitarian nature. DeFi (Decentralized Finance) will take over the world thanks to Ethereum.

In February, it was suggested that Ethereum owners might want to acquire it while acquiring the commodity because its valuation has become little foam. At the time, it was trading around $1,846. It’s down about 1% over the past six weeks, and it sure could drop even more. Especially since ETH-USD has gained about 30% more than Bitcoin over the past year.

I am a huge supporter of DeFi. Therefore, I will always follow cryptocurrencies such as Ethereum that contribute to the increased use of financial parties to complete frictionless transactions efficiently.

Both Ethereum and Bitcoin provide tangible value in their own way. I think Ripple has to figure out how to be a store of value and utilitarian in nature. This, or pick one up and stick with it.

In my opinion, utility play is the best way to go. Until then, it is better to buy BTC-USD or ETH-USD if you are looking for a cryptocurrency to own.

At the date of publication, Will Ashworth did not (directly or indirectly) hold any positions in the securities mentioned in this article.

Will Ashworth has written about full-time investments since 2008. Publications he has appeared in include Investorand The Motley Fool Canada, Investopedia, Kiplinger, and many others in both the United States and Canada. He particularly enjoys creating model wallets that will stand the test of time. He lives in Halifax, Nova Scotia.

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