How to Buy XRP – Buy Ripple (XRP) For Beginners

XRP has had a relatively stable price over the past few years. 2020 started with a slight pullback that ended in May before we saw a consolidation marking the beginning of an uptrend up to the year’s maximum price of $0.76. XRP price is $0.67 when writing this, with a 24-hour trading volume of $1,868,137,221. If you’re wondering why this coin’s price seems to be going up and down, you need to know that the XRP trend has a positive correlation with Bitcoin. So, even a 5% change in the price of BTC can affect XRP. Other events have also affected the price of XRP in the past few years. Like any other asset, investor sentiments play a significant role in the price direction of this coin.

We cannot ignore the supply and demand of XRP. In April 2020, there was a robust bearish price after one of Ripple Labs co-founders, Jed McCaleb, cashed out 54 million worth of Ripples. Excess supply pushes prices down while too much demand raises prices. New partnerships with financial institutions are among the key drivers of XRP prices. For example, when Coinbase and Binance drummed up their support for the Flaire airdrop of Spark tokens in December 2020, the value of the XRP shot higher. This bullish trend is likely to get stronger as the company gets into much stronger partnerships in the future. XRP value will respond by surging higher every time a major financial institution agrees to use its network for cross-border settlements.

The most significant event that is currently affecting XRP is the SEC suit. When the stock market watchdog assaulted Ripple in December 2020, prices fell by over 50% in just two days to just under $30 and further dropped to a minimum of $0.17 by the end of the year. The coin also ranked lower, from third place to fourth place. It is now the seventh most important cryptocurrency. Since April 2021, the value of XRP has been on the increase. 14th April 2021 saw the price hit a high of $1.7. It later rose to hit $1.96 but failed after testing the $2.0 level. This became our new resistance. Bears then gained momentum and pushed the price up to around $0.6 before a moderate bullish push came in. This represented a 70% decline, with all indicators pointing to a bearish trend. Based on these pointers price we consider any price below $60 bearish.

XRP has since then defended this critical price level that might determine whether it will trade lower will go lower or skyrocket. The extended price swings could be explained by the sell-off caused by the legal tussle between Ripple and the Regulator and demand brought in by optimistic investors.

A technical analysis of the XRP shows an upwards channel with higher highs and higher lows. Price appears to have dropped a few weeks ago but was quickly corrected. These are strong signals of upwards pressure on prices. A 200 day moving average shows us that XRP prices are still bearish. A clear look at the pattern formation in the past two weeks shows a wedge pattern, indicating equal force between buyers and sellers. Hence the demand from both sides is at equilibrium. Price has, however, been moving towards the nearest resistance level of $0.75, a sign that we might see a bullish rally soon. Investors shorting this asset should be keen to avoid being on the wrong side of the trend when the price break-out upwards. Any advancement towards the physiological price $0.98 might mean that it’s time to buy and hold XRP. Consequently, a break below $50 could lead to a massive sell-off that may be hard to correct.

XRP Price Prediction

Ripple seems to be defending the current range of $0.61 and $0.75 ever since it fell from $1.7. Investors have a solid bullish sentiment, especially now that SEC seems to be losing out in the case against Ripple. The question goes, “Will price break through the $0.75 resistance level?” It’s difficult to say where the price of XRP will go next following the multiple factors surrounding it. Experts believe that the resilience in the price of XRP is a positive sign for future investors. We can’t lack a few analysts who think Ripple is about to get buried forever if the ongoing lawsuit does not favor them. Looking at the companies that are still extending a partnership to Ripple despite the legal tussle, we can tell you that this coin is going nowhere.

There is a generally bullish outlook as investors feel that Ripple has the upper hand in the SEC case. The other issue that could affect XRP price is the value of Bitcoin. As of today, Bitcoin is already recovering and could be on a solid uptrend soon. As the low-risk traders wait for the price to break $0.98 before they can go long, aggressive investors looking at these stats will likely jump on the train before it leaves. Technical analysis on lower time frames shows that the price could be hitting the resistance zone, $0.75- $0.90 in the next few weeks. As for the remaining part of the year, we anticipate that the XRP will trade above $1.4 and could hit a maximum high of about $2.0. Our sentiments are backed by popular crypto influencers like Crypto Candy and Credible Crypto. Crypto Candy projects a high of $3 by the end of 2021. She predicts a further uptrend pushing past the $10 price mark in 2022.

According to Credible-Crypto, XRP price will trade between $20 to $30 in the next 12 months. On the other hand, if the bears manage to control prices, we will not be surprised to see XRP prices hit a low of $0.13. While this is unlikely, it is crucial to be on the lookout.

Selling XRP: A Quick Overview

You have successfully help your XRP trade, and it has your target price, so you want to sell it and enjoy your profits. When it comes to selling your XRP coins on eToro, you just need to press the sell button, and you will be out with your profits. This should be an instant process with little or no delays depending on your broker. Delays usually don’t last for more than a few seconds. Keep in mind that you can only withdraw your money back to the same platform you used to fund your trading account. This is an international rule to control money laundering activities.

Conclusion

Institutions such as Money Gram and American Express getting into partnership with Ripple means points to a bright future that will pay incredible earnings to early buyers. The concept of investment always comes down to risk reward ratio; in a nutshell, do the potential gains stand out more that the risks of losing your money? Ripple is a hot asset from all angles and will definitely be among the most rewarding cryptos soon. We recommend that you buy Ripple in the US today to be part of the big move that will happen soon.

FAQs

How to Buy XRP?

Buying Ripple was a nightmare a while back, but things have changed these days. It would be best if you simply found yourself an excellent U.S.-regulated broker that offers XRP, and you will be good to go. Remember to check for critical features such as funding methods, trading fees, and user-friendliness of your broker.

Where to Buy XRP?

There are numerous brokers that you can use to buy Ripple in the U.S. in 2021, but you need to pick a broker that matches your investment goals and objectives. eToro is our top-rated online broker for buying Ripple in the U.S. in 2021. Pick a regulated broker if you want to buy Ripple because it will offer protection to your funds.

Is XRP a good investment?

Yes. Investing in Ripple does not guarantee that you will make a profit. The price of Ripple is highly volatile, and no one knows for sure where the price will go next. As much as there are high chances of making good returns, you can also lose money if the price goes against you. Do not invest money you cannot afford to lose.

Is XRP Safe to Invest in?

Buying Ripple is safe as long as you stick to regulated brokers. Find a U.S.-regulated broker to buy Ripple if you want to sure of the safety of your funds. You cannot sue or recover your funds from non-regulated brokers if anything goes wrong with your investment. eToro is our top regulated broker for buying Ripple in the U.S.

How to Sell XRP?

When it comes to selling your XRP coins on eToro, you just need to press the sell button, and you will be out with your profits. This should be an instant process with little or no delays depending on your broker.

About Eugene Abungana PRO INVESTOR