Ripple utilizes the power of blockchain technology to enable users to seamlessly send payments anywhere on the globe. Ripple has been gaining in popularity recently, and has finally cracked the $1.00 per unit level. If Bitcoin and Ethereum are any indication, Ripple could potentially see significantly higher prices in the years ahead. If that ends up the case, investors buying Ripple in an IRA would reap tax-advantageous gains.
Ripple’s value was fairly steady for the first few years of its existence. In April of 2017, however, the cryptocurrency began to garner more interest. As it did, prices began to climb. Prices rose quickly, and in May of 2017 climbed quickly to over $.40 per unit. From that high, prices saw some sharp declines, and moved all the way back down below the $.20 level. The currency then spent some time trading in the $.20 to $.25 range.
In December of 2017, prices took off, climbing from around $.25 to over $1.00 per unit. The dollar parity mark is a significant event for a cryptocurrency, and now that the currency has breached that level it may attract even more fresh buying interest. The market may, however, see another pullback before making a more sustainable move higher.
Ripple has seen some significant price volatility, similar to other cryptos. These markets have drawn in both speculators as well as long-term investors. Because these markets are really just in their early stages, they may be subject to ongoing price volatility. For now, however, it seems that investors are confident in buying any significant dips in price.
Charts can be a very useful tool when it comes to actively trading Ripple or building a long-term position in the currency. Charts are a great way to spot trends in the price of an asset, and can also be useful for identifying overbought or oversold conditions. Charts are available on various time frames including short-term charts by the minute to weekly or monthly charts.
Although there are never any guarantees that an asset will rise in price, numerous indications seem to point to higher prices. Blockchain technology is becoming more and more popular, and investors seem to like the numerous potential advantages that come with using such technology. Ripple and other cryptocurrencies are already accepted by some merchants, and the number of merchants that accept such payments could potentially grow substantially. As the technology becomes more widely accepted and more mainstream, prices could climb based on the laws of supply and demand.
Some have suggested that Ripple and other cryptocurrencies could eventually become more popular compared to other payment methods. Ripple and other cryptocurrencies have numerous potential advantages over some more traditional payment methods. If you are sending funds internationally, for example, Ripple may be more cost effective. You would not pay the fees involved to wire funds, nor would you have to pay any foreign transaction credit card fees. In addition, there is no need for currency conversions when using such a system.