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What is Ripple Crypto (XRP)?

JamesHarris by JamesHarris
December 30, 2022
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The market of digital coins offers a wide range of tokens and coins, NFTs, and other crypto assets used for different goals. There are “empty” tokens serving just to draw attention to the market and coins and projects full of valuable technologies used in the crypto and real sector. This article will be all about one such worthwhile project – Ripple.

Table of Contents

  • What is Valuable About Ripple XRP Cryptocurrency?
  • Why is XRP Crypto So Cheap?

What is Valuable About Ripple XRP Cryptocurrency?

If you look at the popular Coinmarketcap crypto ranking, you will see the XRP token ranked 7th. The XRP crypto price is currently $0.36, and the market cap is over $18 billion.

XRP was released by the Ripple Labs company working on the RipplePay protocol. The company had been founded even before the world heard about Bitcoin for the first time. From the very beginning, Ripple was aimed at providing secure and speedy currency transfers worldwide. In 2012, the company released its XRP crypto, which takes direct participation in fiat-crypto conversion and transfers across borders. 

Now about 200 financial enterprises worldwide use the Ripple ledger as the foundation for their work processes connected with money transfers.  

Advantages Ripple Ledger brings:

  • Financial companies use Ripple Ledger to ease currency conversion and transfers.
  • Individuals use the XRP token to send money in any currency abroad in a matter of minutes, avoiding middlemen and escaping high fees that banks usually impose for such payments.
  • Developers use the Ripple Ledger as a basis for their products.
  • Businesses also use Ripple to facilitate payments.

The Ripple network ensures speedy transactions even compared with the market leader Bitcoin. The Ripple platform has centralized management.

Why is XRP Crypto So Cheap?

Compared with other leading crypto assets in the ranking, the Ripple XRP cryptocurrency price is low. Why is it so? All the matter is in Ripple’s lawsuit with the SEC, which claims Ripple should recognise its XRP crypto as a stock. The court case slowed down the company’s development and is the main reason why, having such a vast growth potential, Ripple is still so cheap. However, once the lawsuit is closed, the company has all the chances to skyrocket. That is the reason why crypto whales hold XRP crypto long-term. 

If you want to buy and hold some XRP tokens too, you may purchase them on any large crypto platform, for example, WhiteBIT. It is a reliable crypto trading exchange with official registration and compliance.

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