Ripple XRP/USD is essentially this decentralized cryptocurrency token that powers the RippleNet payment platform.
RippleNet is a platform developed in 2012 as a means of offering banks and financial institutions a real-time gross settlement system which led to secure and instant financial transactions on a global scale.
The stock buyback announcement as a catalyst for growth
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On January 24, we covered our Ripple price predictions and how a relief rally was expected.
Ripple managed to get a $15 billion valuation after a private stock buyback, according to a Tweet by Brad Garlinghouse, the CEO of Ripple.
The company is essentially repurchasing equity shares from investors in its Series C, including Tetragon, which is a company that managed to successfully sue Ripple last year. Throughout the previous raise, Ripple’s valuation was at $10 billion.
However, this buyback is a reflection of Ripple’s strong position in the market and global company momentum, as it had shown exponential growth in 2021 when it was the company’s best year to date.
Additionally, the company said that the RippleNet platform had seen transactions double in 2021.
Should you buy Ripple (XRP)?
On January 26, 2022, Ripple (XRP) had a value of $0.62389.
To get a better perspective of what kind of value point this is for the Ripple (XRP) token, we will go over its all-time high-value point alongside its performance throughout the previous month.
The all-time high value of the Ripple (XRP) token was on January 7, 2018, when the token reached a value of $3.40. This means that, at its ATH point, the token was $2.77611 higher in value or by 444%.
When we go over the performance of the token throughout the previous month, we can see that on December 1, XRP had its highest point of value at $1.0126, while its lowest point of value was on December 4, when it decreased to $0.7263.
This means that the token decreased in value by $0.2863 or by 28, from the span of December 1 to December 4.
However, from December 4 to January 26, the token decreased by an additional $0.10241 or by 14%. This puts XRP at one of its lowest points and makes it a solid point in time to buy the token.
With all of that in mind, Ripple (XRP) has the potential to reach $1 by the end of February 2022, making it a worthwhile buy.
Where to buy right now
To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use: