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Investing in Ripple – Is XRP a Good Investment?

Up around 100% last year, and being around as a major crypto project for several years without failing as some altcoins have, Ripple seems a reasonable option for beginners who might not have time to research newer coins. In this guide we'll analyze if investing in Ripple (XRP) is a good idea, how to invest in XRP, and which is the best platform for investing in XRP.
Invest in ripple UK
Invest in ripple UK

Invest in Ripple

Ripple all-time price chart on Coinbase

The journey of Ripple began as a platform to facilitate cross-boundary payments and currency transfers. And as of the start of 2022, it has grown to become the a top 10 cryptocurrency in terms of market capitalization (ranked 7th at the time of writing).

Though this crypto has seen its fair share of highs and lows, Ripple investors are optimistic about XRP’s future performance due to the company’s upcoming projects and partnerships in the field of fintech.

Should you invest in Ripple in 2022? Ahead we would tell you how to do so. We review whether you should invest in Ripple, taxes related to your ripple investment, and more.

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How to invest in Ripple in the UK – Step by Step Guide

Despite going through the challenges of the SEC lawsuit, XRP continues to be on the pick list of many crypto investors.

If you are also among those investors who want to cash in on the high returns of this popular crypto if it goes on another bull run – XRP tends to pump a lot during bull cycles – we recommend eToro as an easy-to-use investing and trading platform.

Apart from trading of cryptocurrencies, this platform provides you with incredible trading strategies through its copy trader feature and updates you with expert opinions, price history analysis, and much more.

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Open a free account on eToro

Given below are steps to be taken regarding how to invest in Ripple (XRP) through eToro:

Create your account on eToro

Firstly, you are required to open your account on eToro. You have to sign-up on the eToro website, and then click on the ‘Join Now’ button appearing on your screen.

Afterward, submit the required details, such as name, contact number, username, email-id, password, to open your account. Alternatively, you can also register on this platform through your Facebook or Google account.

Complete the know-your-customer (KYC) process

Once you have created your account on eToro, you will be required to get your identity verified through the know-your-customer (KYC) process. You can submit a screenshot of your license, passport, or any other valid ID.

Your account verification will be completed in a few minutes once you have submitted your id-proof.

Etoro ripple buy

Deposit money in your account

The next step will require you to deposit funds in your account. eToro platform provides you with multiple payment options, such as Bank wire transfer, Credit/debit cards, PayPal, for depositing money in your account. Users can choose any available payment option on this platform at their convenience.

Buy XRP

After depositing funds in your account, you can buy Ripple (XRP) by typing this crypto’s name on the search bar and clicking on the ‘Trade’ button later on. You can insert how much cryptocurrency you want to buy and then click on ‘Open Trade’ for completing the transaction.

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Is Ripple a good investment?

This question is on many people’s minds, and there are valid reasons for it. Recently, this crypto has witnessed a volatile run on its price charts, and unfavorable court orders in the SEC lawsuit have impeded its bullish momentum.

However, there are more things for this crypto on the brighter side, which gives you good reasons regarding why you should invest in Ripple:

Its growing presence in the banking world

Ripple is the favorite cryptocurrency for bankers. Banks prefer this crypto for its fast and easy settlements with minimum dangers. Further, this crypto is frequently used as a transfer tool in the banking world for simplifying transactions between institutions.

International fund transfers have been made more easy and affordable by Ripple. XRP also provides banks with the necessary liquidity for their operation. The attributes of XRP further make it a viable option of reserve currency for many banks.

Many banks are associating with RippleNet to have the benefits of this crypto. Big banks like Santander and Bank Dhofar make use of Ripple. Similarly, many big firms have partnered with Ripple technology including, Western Union, Money Gram, MoneyMatch, etc.

Given its close affinity with the banking industry, Ripple will continue to enjoy the confidence of its investors in the upcoming times.

Increasing utility for its users

Many crypto users face the problem of high transaction fees, which make this digital trading an expensive affair. Ripple’s insanely low transaction fees make it different in the eyes of investors. Its low transaction fees along with its speedy settlement make this crypto a better investment option for crypto traders.

With its cutting-edge decentralized technology, Ripple is poised to become the leader in institutional money transfer. Therefore, many early investors are pouring their money into this crypto to increase their chances of success.

Humongous market capitalization

Ripple is currently ranked 8th with its live market capitalization of about USD 37,139,591,288. This humongous market capitalization is indicative of the fact that this crypto will stay in this digital arena for a longer period. This makes it a perfect destination for long-term investors.

Growing partnerships with big companies

Ripple is looking for a long-term spot in the market of the fintech industry. It is expanding its business by building partnerships and associations with some big organizations. For instance, it has collaborated with Transferwise and Revolut to expand its business in the sphere of money remittance. The company’s association with giant organizations for long-term growth will have a trigger effect on its crypto price in the years to come.

Where can you buy XRP in the UK?

Ripple eToro buy

Different features such as Stats, Feed and chart on eToro

Beginners need to choose the right platform for investing in Ripple (XRP). eToro, ByBitBinanceKuCoinCoinbase and Bitfinex are among the best crypto trading platforms which provide a comprehensive trading experience to all their users through their easy-to-use interface along with their top-notch security.

Considering the risks associated with cryptocurrency trading, it is always advisable to go for a well-regulated broker, which is licensed by top-notch regulatory authorities. That is why, we recommend you eToro trading platform for buying XRP as it is supervised by global bodies like the British Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), and Financial Industry Authority (FINRA).

The leading crypto broker is having a huge customer base of more than 20 million registered users worldwide. Additionally, it has no hidden fees and allows you to mimic the investment strategies of top investors with its CopyTrade feature.

Its advanced technology ensures that your transactions and details remain secured over its network. Further, this trustworthy crypto broker offers Ripple, with competitive fees, low minimum deposit, and a user-friendly design that assures a safe trading environment. For all these reasons, eToro has always been the first choice for any crypto investment.

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XRP price predictions

After experiencing a volatile ride in the year 2021, Ripple is projected to have a decent run on its price charts in the upcoming years. Given below are long-term price predictions for Ripple (XRP) from the year 2022 to the year 2030.

2022-2024

XRP is expected to cross the mark of $2.49 by the middle of 2022. This positive momentum will continue till the end of that year as Ripple is stated to close around $2.84 by the end of next year. Given the fact that the launch of its liquidity hub is due for next year, these projections might prove to be true for this crypto.

Similarly, predictions anticipate that XRP would reach the figure of $3.48 by the middle of 2023. Experts believe that Ripple would increase by at least 4 times of its present value by the end of 2023. Though its price is predicted to go down in the first half of 2024, however, the predictions for the next half show that crypto will be brought back to its original momentum as its price will get increased to $3.95 by the end of 2024.

2025 and beyond

The lawsuit by SEC will play an important role in determining the future prices of this cryptocurrency. The company’s association with organizations like the Royal Monetary Authority (Central Bank of Bhutan) is expected to counter any adverse effect on its price brought about by that lawsuit.

Ripple’s increasing presence in the fintech sector will ensure that this crypto remains a long-term player in the market. XRP price is predicted to be around $4.5 for most parts of 2025. The predictions for the next half of this decade show that the value of XRP would be between around $4 and $5 for the initial two years of the latter half of the decade.

Further, the XRP price is expected to close around $6 by the end of 2028. Then, it is predicted to come down by a significant amount ($0.90), however, it will come back to the value of $5.58 by the end of 2030, thereby keeping bullish momentum on its side.

Ripple Investment Strategy

Ripple is one of the fastest-growing cryptocurrencies, whose value is skyrocketed by a humongous amount in the last few years. It is said that Ripple would disrupt the entire SWIFT system and would revolutionize the cross-border payment industry. Ripple has the right infrastructure at its place to become the industry leader in this sphere.

Considering these factors, Ripple comes out as the perfect investment option for long-term investment. You can buy XRP now and hold it for a while, and then sell this crypto at a higher price.

The upcoming launch of the liquidity hub in 2022 also makes Ripple attractive in the eyes of short-term investors. This launch along with its recent partnerships with finance companies will definitely increase its price in the first half of 2022.

Depending upon your preferences, you can buy XRP either from a long-term perspective or for short-term gains. Since the crypto industry is heavily volatile, it is not advisable to lock your entire money in one coin. Therefore, you must diversify your investment portfolio with some stable coins, and other cryptos to ensure that you don’t lose much money in the event of a market crash.

Best Alternatives to Ripple

ripple alternatives

A smart investor will always have different cryptocurrencies on his investment portfolio to make sure his money does not get blocked in a single asset. If you are also planning to diversify your portfolio, then we have some amazing alternatives to Ripple (XRP), which can buy alongside XRP:

Bitcoin

Bitcoin comes at the top of the wish list of every investor. Having reached its all-time high price in November 2021, this crypto has consistently ranked first in terms of market cap. The increasing acceptance of Bitcoins for payment purposes has enhanced its value among other cryptocurrencies.

Having seen a rise of over 9 million percent from its initial value of $0.08 in 2009, Experts believe that it would touch the whopping figure of $330,000 by the end of 2025. Further, its strong fundamentals and deflationary tendencies have ensured it to be the perfect coin for long-term investment.

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Ethereum (ETH)

Just like Ripple has brought a revolution in the cross-border payment industry with its cutting-edge industry, in the same way, the decentralized technology of Ethereum has also transformed the fintech market with the creation of smart contracts and decentralized applications (dApps).

Ranked second in terms of market capitalization, Ethereum has been one of the best performing cryptocurrencies since its creation. It is expected that it would cross the mark of $15,000 towards the end of 2025. This huge growth in its price is highly possible with the upgradation of its network to Ethereum 2.0. For all these reasons, ETH should find a place in your portfolio if you are looking for alternatives to Ripple. Read more about investing in Ethereum.

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Dogecoin (DOGE)

Once you have Ripple, Ethereum, or Bitcoin in your pocket, you can choose some meme coins for your short-term investment purpose. Among all the popular meme coins, Dogecoin is the most favorite among investors. The year 2021 has seen this coin touching huge heights in terms of its price where it registered a growth of over twenty thousand percent from its launch value.

With the increasing adoption of this coin by reputed platforms like Twitter and Reddit, Dogecoin is poised to deliver good returns to its investors. The meme coin has positive future prospects as it is predicted by many traders to hit $1 one day, especially as Elon Musk often tweets about it. Read our full guide to investing in Dogecoin.

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How to store your XRP investment in a secure wallet?

Unlike traditional currencies, you can’t keep Ripple in your physical wallet. Since cryptocurrencies are like computer codes, one needs good hardware or software to store these codes. This is where Ripple wallets come into play.

For storing Ripple, you need to have secured crypto wallets that can store your XRP safely. Some of the best crypto wallets include eToro Mobile Wallet, Binance Trust Wallet, and Coinbase Wallet, which allow storing over 50 cryptos in their wallet and keep your all assets protected through their high-security system.

We recommend you to use eToro Mobile Wallet, which is regulated by the Guernsey Financial Sector Commission (GFSC). In addition to storage services, this wallet offers you the feature of conversion functionality. Further, its easy-to-use interface provides you with easy navigation throughout this wallet, and its availability on Android and iOS devices makes it highly accessible to the general public.

Store Ripple in eToro wallet

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Security and risks of Ripple investing

Before investing your entire money in Ripple or any other crypto, you must under the security and risks associated with this industry. This will help you in making informed decisions regarding your investment in Ripple.

The main risk associated with Ripple is its volatility. This crypto hasn’t shown stability on its price charts since the last few months, which is the point of concern for many investors. Further, another risk associated with Ripple is the SEC lawsuit. Though the currency managed to hold on when some unfavorable orders were passed, however, any adverse ruling in the upcoming stages would not only tarnish the company’s brand value but also bring down crypto’s price.

Further, Ripple’s price was severely affected when Coinmarketcap removed Korean exchanges as these exchanges account for the majority of this currency’s daily transactions. Any law adversely affecting the crypto trading will bring cascading effect on this crypto’s price, and will decrease the value of this crypto asset.

Another risk associated with crypto trading is the absence of any regulation in the market. This lack of regulation often prevents new investors from entering into this industry. Similarly, the dangers of hacking, error, or any other technical glitches during crypto trading could also not be ignored completely.

Selling your Ripple investment

Nowadays, many crypto exchanges provide their users the facility of converting XRP into cash or exchanging it with any other crypto. These conversions are highly dependent upon the nature of services offered by crypto exchanges or trading platforms.

It is always advisable to sell your Ripple investment from a well-regulated trading platform that provides you with multiple options of selling Ripple for cash, other fiat currencies, or any other cryptocurrency.

We recommend you to use the eToro trading platform for selling your Ripple (XRP) investment as it is not only internationally licensed but also gives you different channels for withdrawing your investment. You can easily sell your XRP by following these simple steps. Just enter the withdrawal channel on your account, close all active positions on trade, and make sure that your account is having the minimum withdrawal amount. Then, begin the withdrawal process by clicking on withdraw funds, and entering how much investment you would like to withdraw. Mention your withdrawal amount and channel, and get your money easily out of your Ripple investment.

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Responsible investing

In light of the security and risks associated with Ripple, you have to be careful while making your investment in this crypto. Since Ripple is having a promising future in this crypto market, you should reap the benefits of this crypto by investing responsibly. You must conduct proper research, analyze market conditions, study price moments of Ripple, and then make an informed call regarding how much money has to be invested in Ripple.

Never stake your entire money in one crypto as you will face a huge risk of losing your entire money in case the price of that crypto falls. Therefore, it is advisable to invest responsibly while dealing with these digital assets. You can use the eToro trading platform for conducting your market research, analyzing market conditions, getting experts insights on your important trading decisions, and knowing some investment strategies from the professionals

Taxes and regulations regarding Ripple in the UK

Investing in Ripple is subjected to taxation in the United Kingdom. Her Majesty’s Revenue and Customs (HMRC) has released the guidelines mentioning about the instances when cryptocurrencies like Ripple would be subjected to tax. The losses incurred during the period of holding Ripple are generally deduced from the overall taxable income generated by this crypto trading.

Selling XRP comes under the bracket of capital gains tax. This also includes instances where Ripple is received in form of payment for employment or mining, or it is exchanged with another crypto asset, it is used to buy any goods or services, or it is given to another person except in case of gifting it to a spouse of a civil partner. Depending upon your total income, you can calculate how much capital gains tax has been made out on your income.

Capital gains tax is usually divided into two heads: Short-term capital gains and long-term capital gains. Short-term capital gains include profits earned from selling Ripple after holding it for a period less than a year, while long-term capital gains include profits earned from selling Ripple after holding it for a period more than a year.

You are allowed to subtract certain allowance costs from your gains. These costs include transaction fees which are generally paid at the time of any transaction on a blockchain network, costs incurred during the formation of any contract for the transaction, advertisement expenses borne by the buyer or seller, etc. In case you have incurred some capital losses, you are allowed to adjust them against your profits only after they are reported to HMRC.

Conclusion

Ripple’s cutting-edge technology in the sphere of the payment industry will play an important role in shaping XRP’s future in the crypto market. Though XRP’s price has been volatile in recent times, however, investors should not lose hope from this promising crypto. Early investors are already having their eye on this crypto as Ripple is poised to become the next Bitcoin in the money remittance business industry.

As the company is focusing on increasing its presence in the finance industry with its collaborations with some big organizations and banks, Ripple should come out as a profitable investment for all investors.

You can check out the eToro exchange platform to learn more about Ripple, its price predictions, and other important updates regarding the crypto’s prospects. All users have their own news feed where you can ask is Ripple a good investment and hear from other investors.

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FAQs

How to buy Ripple (XRP)?

You can buy XRP from the eToro exchange, which allows its users to buy their desired crypto with some simple steps. You have to create your account on the eToro trading platform, get your identity verified through the know-your-customer process, deposit funds to purchase XRP, choose XRP from the search bar, and then click the trade button for completing the transaction.

What is the difference between Ripple and XRP?

Ripple is a global payments settlement and currency exchange network that is used to handle transactions from all around the world. XRP is a cryptocurrency used on the Ripple network for making real-time global payments. XRP is also used as an investment and as an exchange for other cryptocurrencies.

When was Ripple launched?

Ripple, a real-time gross settlement system, currency exchange, and remittance network, was launched in 2012.

How to get XRP?

You can get XRP from any crypto exchange. We recommend you to buy this crypto from the eToro platform, which is well-regulated by global top bodies like the British Financial Conduct Authority (FCA), and Australian Securities and Investment Commission (ASIC), etc.

How to sell XRP?

You can easily sell your XRP from the eToro platform by following these simple steps. Choose the withdrawal channel on your account, close all active positions on trade, and ensure that your account is having the minimum withdrawal amount. Start the withdrawal process by clicking on the withdraw funds, and then enter how much investment you would like to withdraw. Mention your withdrawal amount and channel, and get your money easily out of your Ripple investment.

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Cryptoassets are unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

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Cryptoassets are unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

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