How to Buy Ripple
For our CryptoCurrency Thursday videos, we like to show you ways to buy different types of cryptocurrencies. Today, we are going to be showing you how to buy Ripple. The symbol for Ripple is XRP. So why would someone want to learn how to buy Ripple? Well, the answer to that question is the same reason why anyone would want to buy any crypto: to make money and get a good return on investment. With all of the talk of the moon and Lambos for all investors, it is super important to know what you are buying so you do not fall into delusions of grandeur.
Ripple is a great cryptocurrency and people will be able to make a lot of money from buying it. Truthfully, people already have. I read the story (I believe to be legitimate) from a user on Twitter who invested $3000 into Ripple in early 2017. This was money he received from his tax refund. If you are unaware, Ripple skyrocketed in 2017 from under a penny to soaring to heights of over $3 this year. The user made over 1 million dollars. That is the benefit of buying an altcoin when it is in its infant stages. I’m not saying that you will make a million dollars from Ripple, but people have done it.
So what is the ceiling for Ripple? At the time of this writing, the cost of Ripple is around $1. You will find people everywhere talking about Ripple going to the moon. I will just tell you, that if you think you will be able to buy Ripple at $1 and watch it go to $100 per coin then I have some oceanfront property to sell you in Arizona.
What to Expect When You Buy Ripple
Ripple most likely will never get above $10 per coin… and that could be stretching it. Ripple is a coin that has 84 billion coins in total supply. Current circulating supply is less than half of that number. The novice investor may not realize how important that is to the current price of the coin. Take into consideration that Bitcoin has over 4x the market cap of Ripple. The cost of Bitcoin at the time of this writing is about $10,000. The reason why the cost of Bitcoin is 10,000x the price of Ripple is because it only has a total of 21 million coins. About 19 million of those are in current supply.
For the price of Ripple to get to even $10, the marketcap would have to go to over 2x what Bitcoins marketcap is at right now. That doesn’t seem likely in the near future. If you hear people talking about Ripple shooting up just don’t understand the math behind proportional marketcap and coin supply.
A Dream Scenario
If you have your head in the clouds regarding Ripple then what is a scenario where the price could shoot up? In my mind, the only way this could happen would be if literally the entire world banking community decided to implement Ripple’s transaction application. Ripple is trying to solve banking problems regarding the speed of international transactions. If this were to occur, Ripple could go from $25 to $50. Unless fiat totally fails across the world, there is no way Ripple could get above those numbers. Ripple is still a good investment if you are expecting between a 200% to 500% ROI. But just don’t fool yourself. Thanks for reading how to buy Ripple!