Why The Ripple Coin Is Back On My Crypto Radar

By my count, there are more than 4,000 cryptocurrencies out there today. Thousands of those you can discount right off the bat. Whether there's little to no trading volume and interest, or they're ultra-niche tokens, or fads, they'll never amount to anything.

Coins, Cryptocurrency, Ripple, Xrp

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But aside from the biggies – Bitcoin, of course, Ethereum (ETH-X), Litecoin, and others – there are several hundred viable, usable microcurrencies out there that have monster profit potential. I run a "watch list" on these – I'm always looking for tradeable profit opportunities on them, and when I hit on something, my Microcurrency Trader readers hear it first.

One name that I watch regularly is Ripple, which trades under XRP. Now, Ripple is only "small" compared to Bitcoin. It has a market cap of $110 billion or so, and regularly you see trading volume in the $7 billion to $9 billion range. Ripple's a little different; you don't mine it like Bitcoin, but there are a finite number of them, 100 billion.

It's up, big-time, like a lot of other increasingly mainstream cryptos – it's put on nearly 410% in gains year to date.

But I think the profit potential in XRP may have just gotten even bigger…

Ripple Helps Solve one of Banking's Biggest Headaches

Before crypto came along, settlements – particularly across borders – were more of a pain in the neck than most people realize.

Say you pop into Starbucks for a venti latte. Most places in America, that'd set you back $4.15. Hand over your card, pay for your drink, and you can see your available bank balance drop by $4.15 in seconds.

 

Trouble is, that's kind of an illusion. The actual money-changing-hands transaction between you, Starbucks, your bank, Starbucks' bank, and the payment processor is waaay more complicated than the "-$4.15" you see in your banking app. The transaction has to be executed and settled, money has to electronically move, and the truth is, that can take days.

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Disclaimer: Any performance results described herein are not based on actual trading of securities but are instead based on a hypothetical trading account which entered and exited the suggested ...

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William K. 4 weeks ago Member's comment

Very educational indeed!! Thanks for the new knowledge!