Ripple is an up-and-coming cryptocurrency that uses some of the most advanced blockchain technology available today. The network was designed to provide a seamless payment method, and it allows for very rapid payment and receipt of value by individuals and businesses. The unit of value used on the Ripple network is known as XRP. Ripple prides itself on the speed of its technology, with payments settling in just seconds.
Could Cryptocurrencies be Around in a Decade?
Absolutely. These forms of digital money arr only in the earliest stages of what could eventually become more widespread and mainstream use. Although some merchants already accept Ripple or other cryptocurrencies as a form of payment, that number could expand substantially if current trends continue. Some are even of the opinion that these forms of money could conquer a significant share of the global payments market. Of course, this could be years or even decades away, but they seem to have already established themselves as a secure and reliable means of remittance.
Can Ripple and Other Cryptocurrencies be Actively Traded?
While some cryptos are listed on numerous exchanges, others have less availability. One can buy or sell cryptos as much as they desire or to the extent that their trading capital will allow, however, there are challenges that come with such a strategy. These markets can be illiquid, and volatile, and transactions costs could also become substantial for active traders. Some derivatives products based on cryptos have already been launched by some of the world’s largest derivatives exchanges, however, and may provide a superior environment for those looking to actively trade or even day-trade cryptos. As cryptos become increasingly popular, there could be more crypto-based tradable products launched. Trading such products is not the same, however, as actually owning a cryptocurrency.
Are There Any Particular Strategies That May be Useful For Long-term Investors?
When it comes to investing in cryptos for the long-term, many buyers are viewing their purchases as a “buy and hold” type of investment. That is to say, they purchase the cryptos with the intention of holding onto the assets for an extended period of time.There are numerous strategies that may be used, depending on the investor’s time frame and risk tolerance. Trend following strategies are one option, and investors may look to establish or add to long positions on any pullbacks from an uptrend. Other investors may dollar-cost average, buying cryptos at regular intervals or on price dips in an effort to lower their overall cost, or basis.
Are Ripple Charts Useful For Long-term Investors?
Charts can potentially be useful for both short-term and long-term investors. They can be used to spot trends in the price of a crypto, or to look for technical trading patterns that may provide both buy and sell signals. Charts are available on numerous time frames, from as short as one minute to a full year. Long-term investors will likely be more concerned with larger time frames, and may pay more attention to daily, weekly, monthly and even annual charts.