Ripple has long been an enigma in the current cryptocurrency realm. The token has consistently received the central spotlight and has been a constant source of scrutiny throughout these years.
Despite its massive popularity and recent win against the USD SEC, XRP has yet to show a bullish price action. Is it profitable to invest in XRP in the long run? Finder and CoinCodex insights may help investors answer this question.
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Finder Panel Insights: Should You Invest In XRP?
According to finder experts, XRP is still a credible and “solid player” in web3. Its noteworthy presence in the payment and remittance sector may help the token spike to new price highs.
“Dimitrios Salampasis, the FinTech capability lead and senior lecturer of emerging technologies and FinTech at Swinburne University of Technology, says that “XRP still remains a solid player with advantages in the payments sector” and should close out 2024 at roughly $0.50.”
With Ripple establishing new strides in the global cross-border payment sector, XRP is poised to assume an institutional role in the sector.
“XRP is expected to climb faster owing to the massive adoption by the financial institutions, banks, and payment systems. Moreover, new investors will give preference to XRP because of [its] low price as compared to other competitor crypto.” Shubham Munde, team lead at Market Research Future, told finders.
That said, the general sentiment towards XRP seems optimistic, considering Ripple’s ambitious global plans.
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CoinCodex Insights On The Token: Profitable Or Not?
According to CoinCodex, XRP is trading at $0.53 and may surge 20% to hit $0.64 by the end of September.
The CC analyst shared that Ripple is not profitable, considering the token has documented 16/30 bullish days. The platform also adds that XRP performance has been down 50% in the last 3 years.
“Over the last 30 days, XRP had 16/30 (53%) green days. According to our historical data, it is currently not profitable to invest in XRP. The price of XRP increased by 11.91% in the last year, while the coin’s 3-year performance is -50.43%.”
However, the platform later adds that XRP may claim the $1.5 price mark by 2025, delivering a bullish price take.
“Based on our algorithmically generated price prediction for XRP, the price of XRP is expected to decrease by 20.09% in the next month and reach $ 0.644103 on October 11, 2024. Additionally, XRP’s price is forecasted to gain 155.88% in the next six months and reach $1.372466 on March 10, 2025.”
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