- Ripple is surging on good news surrounding its SEC lawsuit
- CoinPriceForecast and Digital Coin expect Ripple to break $1 this year
Ripple has been surging over the past few days. The reason? Good news surrounding its SEC lawsuit. This is certainly a positive development for hodlers, some of whom have been hanging on to it for years.
This guide has everything you need to know about Ripple: what it is, would it be a valuable investment, and the top places to buy Ripple today.
Top places to buy Ripple now
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What is Ripple?
There seems to be some confusion around XRP, Ripple and RippleNet. XRP is the token used on RippleNet, which is a digital payment platform running on top of XRP Ledger. This is a distributed ledger database maintained by the global XRP community, of which Ripple is a prominent member.
Ripple operates RippleNet, an RTGS (real-time gross settlement) system that aims to enable instant monetary transactions around the world. You can use any currency in the system.
Ripple created XRP as a faster, cheaper, and more scalable payment alternative. On average, XRP Ledger processes transactions every four seconds.
Unlike Bitcoin’s rather primitive PoW mechanism, transactions are processed whenever validator nodes come to a consensus on the validity and order of XRP transactions. Anyone can be a validator on Ripple.
Ripple price prognosis
Most analysts are bullish on Ripple. Regardless of the outcome of the lawsuit, CoinPriceForecast expects Ripple to shoot past $1 this year. It already passed 1 CAD. They forecast a year-end value of $1.07.
Digital Coin agrees with this prognosis. They predict Ripple will trade for $1.09 by the end of the year.
Should I buy Ripple now?
Ripple bulls hope for an end to the SEC lawsuit. When this finally happens, the price of Ripple could shoot through the roof.
The end does seem near. Judge Analisa Torres ordered the unsealing of several previously inaccessible documents related to Ripple executives.
Ripple was also given permission to respond to an SEC memorandum. Attorney Jeremy Hogan believes this will expedite the process greatly.
On the other hand, nobody expected Ripple’s lawsuit, dating from December 2020, to drag on this long. Whatever you decide, don’t invest more than you can afford to lose.
