- As new people enter the market following the bitcoin halving, many people are looking at alternative cryptocurrencies as to where they can put their money.
- The question that has long been asked as to whether XRP is worth investing in, in 2020.
- An official from the company has given his views on this question.
As new people enter the crypto market following the highly anticipated bitcoin halving, many people are looking at alternative cryptocurrencies as to where they can put their money. The question that has long been asked throughout the space as to whether the XRP token is worth investing in, in 2020. An official from the company has given his views on this question.
As the senior talent sourcer at the San Francisco-based company, Josh Lin talks on the popular social site Quora where he believes XRP is both a good investment and a bad investment as he explained.
To start with, Josh clarified that if someone wanted to invest in the XRP token then they would be investing in the digital asset that runs on the XRP ledger and not ripple the company, since they do not publicly trade as of yet. When talking about whether the token is a good investment, Josh noted that the company is actively driving utility and the volume to the ecosystem for XRP.
In theory, Josh answered that this should increase the intrinsic value of the token but whether the bid/price will affect that, remains to be seen.
He adds that the team at ripple are some of the brightest and humblest people he’s ever had a chance to work with. Saying that whether it should be classed as a good investment, the team behind the token should be thought of as well.
But Joshua does make it clear that there is a lack of clarity surrounding the token which can make it a bad investment. The United States securities and commodities exchange would classify XRP as a security and report as a company is facing several class-action lawsuits alleging that the company sold unregistered securities.
It will be interesting to see how this plays out. As to whether XRP is a good investment or not, it is not for us to say. It’s worth noting that this was not investment advice and we are not advisors. Please do your own research before putting your money into a cryptocurrency!