Ripple (XRP) Expected to Rise the most in Price in 2019
An internet company in Japan, GMO internet group, conducted a cryptocurrency survey and almost half of the survey's participants predict that Ripple will rise the most in price in 2019. The survey involved 11,000 participants and took place from January 30th to February 20th. This means that almost 5,500 people believe that Ripple will be the cryptocurrency to grow the most in 2019.
GMO has also launched a cryptocurrency exchange called GMO.
70% of the participants in the survey view cryptocurrency as a long-term investment asset and they strongly support digital assets - this proves that the majority of the Japanese participants believe that cryptocurrency will be a natural part of our future one day and that investing in it now will benefit one later. The biggest reason for investment in cryptocurrency is the potential future returns one may receive.
The Japanese support of cryptocurrency can also be observed by the fact that the Yen is the largest fiat driver of Bitcoin with the US dollar in second place. It has also been reported that 90% of the survey's participants bought into cryptocurrency after the highest highs in 2017 - which means that 90% of the participants will most likely experience a high return on their investment instead of suffering through a huge loss as those who bought during the highs.
The participants are still concerned about the volatility of the cryptocurrency market and the exchange security, however, Japan's Financial Services Authority is currently in the process of creating cryptocurrency regulation laws as well as considering to license up to 7 exchanges.
As it stands in March 2019, Ripple is currently going through a bearish zone where its worth appears to be decreasing and is at risk of declining further unless buyers clear the $0.3240 resistance level. It has been predicted that if Ripple, currently trading at the US $0.32, fails to break through the US $0.3240 level then further losses will be experienced.
However, we are still in the early months of 2019 and the volatility of the cryptocurrency marketplace could still leave room for the Japanese prediction to come true.