Is price the only thing you should take into account when investing in Electroneum? Does XRP's historical price shed light on Electroneum's possible future? Let's find out.
A Brief History On XRP
XRP has been one of the most controversial coins in the market. Many hate it because they feel it is too involved with banks and is not following the decentralized path. Others laud the Ripple teams efforts to play ball with the current banking system and their aim to disrupt the remmitance sector.
No matter how you feel about the crypto in question, it may hold a glimpse into the future of the nascent Electroneum. What does XRP's price history tell us?
No matter how you feel about the crypto in question, it may hold a glimpse into the future of the nascent Electroneum
The Date and Price
In August 2013, XRP was fairly young and full of potential. The price is $0.0043 per coin. A year and change passes and XRP more than quadruples in price(December 2014). The price was now $0.024.
I can imagine that everyone was ecstatic with the gains. They expected good times ahead and noone could tell them otherwise.
A year later, in October 2015, the price found itself back around $0.0053 and would stay there until Mid 2017. For years the price was stagnant. Was XRP dead? Was it worth investing in? Should holders dump the coin?
XRP Was Not A Failure
What followed was a parrabolic rise. Those who invested and held were elated to see the price go over $3. Yes, price fell again. But today XRP finds itself at $0.42. A $100 investment when the price was low would currently be $10,000 . A $10,000 investment would almost be one million dollars.
A $10,000 investment would almost be one million dollars.
Does Price Show That ETN Is A Failure?
The resounding answer is no. XRP's price was low for years and violently exploded when the time was right. The same can happen for Electroneum. Instead of focusing on the price today, it is better to analyze the project thoroughly and decide if you like the direction they are taking and if you feel the price will go up.
Current price does not dictate future potential. XRP has clearly shown that and Electroneum has the chance to prove that statement true.
Instead of focusing on the price today, it is better to analyze the project thoroughly and decide if you like the direction they are taking and if you feel the price will go up.
The preceeding article is based on my opinioms and should not be taken as financial advice or advice to buy or sell and is intended to be educational and entertainment.
