A crypto investor and analyst, who goes by Crypto X AiMan, has made a big move regarding the XRP coin, announcing a major purchase for the future. In the post, he revealed that he had bought 100,000 XRP coins, which were valued at $250,000 at the time of the purchase. The post further elaborated on the reason behind this massive move, what exactly is the driving force, and where the crypto analyst believes that the cryptocurrency is headed in the future.
What Buying XRP Now Means
Outlining the reason behind the trade, the crypto investor first highlights the past performance of the cryptocurrency. With an over 100,000% increase from its ICO price, launching in 2012, the coin has been able to perform well in major financial institutions. It also adds the fact that it has managed to thrive despite the existence of banks, as well as hurdles created by regulatory issues, and not being hindered by borders.
The performance of the XRP altcoin so far, and the expectations that it will continue to ris,e are some big drivers of its value. However, there are also the very real-world use cases for the altcoin, which was designed to play in trillion-dollar markets and help streamline global transactions.
Another reason that the analyst gave is that buying and holding XRP does work as a hedge against inflation. This comes as governments continue to print fiat currency at an alarming rate, triggering more inflation and making the existing fiat currencies lose more of their value.
However, if the XRP price grows the way it is expected, then it would bring enough returns to actually compensate for the inflation, thereby preserving the buying power of holders. The analyst explains that buying XRP is “a hedge against inflation, legislation, and latency itself.”
Ripple Becoming A Global Powerhouse
Ripple, the crypto firm behind the XRP cryptocurrency, has been making major moves in the industry recently that point to its endgame: facilitating global transfers using the XRP Ledger. A recent major acquisition was Hidden Road, which has since been renamed to Ripple Prime, making Ripple the first major crypto firm to own a multi-asset prime brokerage platform.
This also further Ripple’s push against SWIFT as it tackles the trillion-dollar global transfer industry. Crypto X AiMan refers to this as the tokenization of trust, which will take over when market crashes hit and the likes of SWIFT freeze up and are no longer working.
By holding XRP, the crypto investors believe that it is holding “the hard ledger of the payment economy.” He further adds that “Best case? Adoption explodes, banks consolidate on RippleNet, or regulators bless it, turning early XRP into a collectible, tradable relic of the crypto revolution.”
Featured image from Dall.E, chart from TradingView.com
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