Is Now a Good Time to Buy Ripple (XRP)?

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Contributor, Benzinga
July 11, 2022

Through the years, tons of crypto investors made a killing buying XRP. Likewise, plenty of crypto investors lost 90%+ from buying XRP at its peak. Now that XRP is back in the headlines, you may be asking: is now a good time to buy Ripple (XRP)?

Ripple Labs recently gained a favorable judgement by a United States judge assigned to the Securities and Exchange commission's lawsuit against Ripple Labs. The lawsuit alleged Ripple Labs has issued unregistered securities. After over 2 years, a U.S Judge determined that Ripple Labs did not violate Securities laws and that XRP is not a security on July 13th, 2023.

What Is Ripple Labs?

Ripple Labs is the company behind XRP Ledger, a blockchain solution for corporate transfers, both domestically and internationally. The current system for international transfers uses the SWIFT system, but it’s roughly 50 years old and has significant disadvantages. SWIFT is a slow and outdated system. If XRP is able to become the new standard then it is well deserving of its position as a top 10 cryptocurrency by market capitalization.

Let's dive into whether or not it's a good idea to buy Ripple (XRP) following its favorable judgement, or if it's too late to get in on the action.

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Is Now a Good Time to Buy XRP?

Those who purchased XRP prior to July 13th, 2023, have already made great returns. That is, of course, as long as they made their purchase recently, and not during the 2017 bull market. While XRP peaked in 2017 above $3, this was during a market mania, and the token was widely available on major exchanges. Following Ripple Labs' lawsuit, most exchanges delisted the token, making it far less accessible to U.S investors.

That being said, Ripple is up over 80% on July 13th. It's reclaimed its spot as the 4th largest cryptocurrency by market capitalization, beaten only by Bitcoin, Ethereum, and USDT. Now that XRP is deemed to not be a security, more exchanges may begin to list the asset, making it more accessible to investors worldwide.

How Long Will the Crypto Bear Market Last?

The bear market is here, and for many investors the falling prices cause serious anxiety. Leading the charge for the nervous crypto investors is Jim Cramer, who has called for a further drop in market valuation. 

In a recent airing of CNBC’s Squawk Box, Cramer states, “Crypto really does seem to be imploding. Went from $3 trillion to $1 trillion. Why should it stop at $1 trillion? There’s no real value there.”

Despite Cramer’s take, the last thing crypto investors should do is panic. Letting your emotions  get out of control by watching talking heads on CNBC can be dangerous. A better solution could be to begin dollar cost averaging – by setting an exact day each week and amount to invest, you can automatically get exposure and reduce risk of buying the top or making an emotional mistake. This hands-off approach is praised by many who have been in the crypto market for a number of years. Some investors increase their dollar cost averaging amount or frequency when a bear market is under way.

It is uncertain how long this bear market will last or if there is further drop ahead. Try not to panic sell, overextend yourself in buying or 100% believe everything you hear from analysts like Cramer.

Will XRP Ever Reach All-Time Highs? 

XRP briefly reached over $3 per coin; today, it trades for $0.81, even after its recent pump on its securities judgement. For XRP to go back to its all-time high and surpass it, the Ripple network will need to displace SWIFT as the international banking transfer mediator, or create more utility on top of its semi-decentralized ledger.

Is Ripple (XRP) a Good Long-Term Investment?

XRP is a tough one to make a long-term bet on. It still has so much that it must overcome. Especially with a market capitalization of over $40 billion, there is still a fair amount of speculation baked in. If you are highly convinced of its potential use case, then XRP could be a high-risk, high-reward trade you are willing to take a chance on.

How to Buy Ripple (XRP)

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A couple centralized platforms support XRP, but it has become increasingly difficult to purchase the asset since the SEC’s actions. One exchange that still offers XRP trading is eToroX. You may also want to look into decentralized exchanges that trade XRP.

How to Store XRP Safely

Following the failure of Celsius and a number of other crypto trading platforms, consumers have become increasingly worried about who is holding their digital assets. The only way to be sure your crypto is safe is to hold your own keys, by using a non-custodial wallet. 

Once your crypto has been secured via a software, non-custodial wallet, it is recommended you move it to cold storage by sending it to a hardware wallet such as the Ledger Nano S. With a hardware wallet, it is far more difficult to be compromised and lose your assets.

How Does XRP Fit in the Bigger Picture? 

XRP has different properties than Ethereum and Bitcoin do. While these cryptocurrencies are useful for the average person, XRP is not. Not many people need to make transfers on the XRP network; rather, it is designed for the biggest corporations in the world. While XRP looks to use blockchain technology, openness is much less important to the project than most other projects.

So, Is Now a Good Time to Buy Ripple (XRP)?

If XRP is able to replace the SWIFT system, then its price today is incredibly cheap. For that to transpire, a long list of issues must be resolved. Crypto is risky, and XRP is one of the most speculative bets within the top 10 cryptocurrencies by market capitalization.


Is now a good time to buy XRP?


XRP is certainly at a significant discount, but it is a risky bet in the crypto market.


Can XRP reach new all-time highs?


Prices are well off their all-time highs, and XRP has a number of challenges to overcome to surpass its previous highs. These challenges include overcoming the SEC hearing and seeing market conditions change drastically.

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