Ripple (CRYPTO: XRP) had a fantastic 2023, as its price soared 81% last year, but things have cooled off since then. This digital asset is down 14% this year, and it is 86% below its peak price from about six years ago.

Should investors with $1,000 buy this cryptocurrency (the sixth most valuable in the world, with a market cap of $28 billion) hand over fist in 2024? Let's take a closer look.

Ripple is one of the oldest blockchain networks; it was launched in 2012 to facilitate cross-border transactions for financial institutions. The way it works is that one currency would be converted into Ripple's native digital token, XRP, sent using the blockchain, then converted into the currency of the receiver.

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Source Fool.com