If your wondering if the crypto coin XRP is worth buying in 2020 lets look at the facts. For those who don’t know XRP is a coin geared towards banks to send large payments. The current system in place dates all the way back to the 1970’s which is SWIFT. The idea for XRP is simply to transfer money digitally in an instant. The transfer fee’s banks can save using this coin are huge! It also helps keep money more liquid and easily accessible. In fact at this very moment the parent company Ripple has partnered with over 200 banks worldwide. So lets take a closer look.
Is XRP Solving a Real Problem?
If your wondering if XRP is worth buying in 2020 lets dive deep. The banking system has been using the same old traditional overseas transfer system SWIFT. SWIFT is a vast messaging network used by banks and other financial institutions to quickly, accurately, and securely send and receive information, such as money transfer instructions. It can at times take days for money to be accessible through this old system. XRP on the other hand can make large amounts of money move in seconds. So why not use XRP than? Well the truth is that change never comes easy or fast.
- Banks Can Move Money In Seconds
- Extremely Low Processing Fee’s
Have They Made Any Progress?
Now this is a great question. The good news is they absolutely have. They have made partnerships with banks around the world to use XRP’s on demand liquidity. While most of the 200 plus banks they have partnered with are outside the United States they recently partnered with Moneygram. Moneygram is an American money transfer service for those of you who don’t know. Ripple even placed a stake in Moneygram for around 10 million dollars. I’m sure you can see where things might be heading.
- 200 Plus Bank Partnerships
- Partnered With Moneygram
Price of XRP
So is XRP worth buying in 2020 as an investment opportunity. Well I can’t give you financial advice, but I can tell you the coin currently sits at around $.20 cents. At its all time high it hovered around $3 dollars. It’s taken a steep decline for the last couple of years despite lots of positive news around it. Based on its current price and the huge upside I would definitely say its worth taking a look at. Remember not financial advice but I personally own this coin.
- Steep Decline In Price for Last 2 Years
- It Could Be Time for It To Explode
Okay so is XRP worth buying in 2020? Based on its current price, and the fact that they continue to push for more bank partnerships I’d say it is. No one can predict the future so you have to do your own due diligence. If your looking for a great platform to trade cryptocurrency right now I would recommend using Coinbase.