CEO and Co-Founder at Xago, Jurgen Kuhnel, has weighed in on matters involving the price of cryptocurrency XRP, saying the price of the digital currency would continue to rise year on year.
The CEO of the XRP Ledger-dependent exchange also issued a bleak warning againt the decision of not to investing in digital currency, saying the potentials of the cryptocurrency industry are positive.
In a well-worded opinion, the CEO highlighted reasons to invest in Ripple XRP, reflecting on some main questions asked by people on the investment opportunity.
Jurgen Kuhnel, who claims to have traded cryptocurrency for a couple of years, giving new ideas opportunity each time, said there’s no analyst or trader who wins it all.
The analyst notes how volatile the cryptocurrency market is. He maintains that this attribute makes the market more appealing since good traders have the advantage of yielding massive returns.
In the CEO’s opinion, it is of utmost importance to set a time to pull out when trading, adding that traders should also understand how much they would be willing to lose and what would tell them things weren’t going as planned, as they go on trading.
Analyzing why people need to invest in cryptocurrency, Kuhnel states that some early digital currency adopters became multi-millionaires as a result of the continuous increase in the price of digital currency.
Talking about investing in XRP, the Xago CEO opines that the digital currency is not like Bitcoin that was created through mining and does not make use of proof of work for transaction confirmation.
He maintains that Ripple Labs Inc., the firm behind the adoption of XRP, sells some portion of the pre-mined assets to fuel the growth of XRP ecosystem.
Kuhnel notes that Ripple is developing products that are targeted towards helping financial institutions, FX companies and business integration with the Ripple Ledger. He emphasizes that XRP has a big vision, unlike other digital currencies without use cases.
“Ripple has this war chest and they have a professional management team to execute on this plan,” he said.
The Xago CEO said in the next few years more adoption of XRP will set in and there will be more integration of XRP within the financial world, thereby increasing the price of the digital currency.
“Over the course of the next few years, more and more adoption, more customer-facing products and more integrations with financial service providers will realise the vision and XRP will rise gradually as this process occurs.”
Finalizing his opinion, CEO Kuhnel concludes that without looking into the XRP Chart, he expects XRP to keep on increasing year on year on the same trajectory it has been for the last few years.
Earlier, NewsLogical interviewed the CEO on his thoughts about XRP and Bitcoin and why his firm decided to build their exchange on XRP Ledger.
Responding, Kuhnel said they decided to go for XRP because it solved their problems.