What Is XRP Crypto?
XRP is a Ripple peer-to-peer ecosystem cryptocurrency with a differentiated registry, which, unlike Bitcoin, does not use blockchain technology. At the same time, the cryptocurrency resembles Bitcoin in many ways.
The goal of the project is to create a global web within which users can actively exchange digitized assets. At the same time, increasing the speed of processing and transaction capacity with a radical reduction of fees for each financial transaction in the interbank sphere is a priority.
XRP Brief History
It all started with the development of RipplePay in 2004. The first version of the system, RipplePay.com, was released in 2005. In 2011, the creators revised the concept of Ripple and decided to rely on a decentralized network, which, unlike Bitcoin, has no mining.
In 2014, the company refocused on cooperation with banks. The first bank to start working with them in 2014 was the German Fidor Bank in Munich. In December 2014, the XRP cryptocurrency overtook Litecoin, breaking into second place by market capitalization, which reached $500 million. In late April 2015, Western Union became interested in their technology, and in late May, the Commonwealth Bank of Australia.
The project also had setbacks, such as the $700,000 fine issued to Ripple Labs in 2015 for violating banking secrecy. Another success that year was the opening of an office in Sydney, Australia.
Due to the SEC's action against Ripple Labs, Inc. in January 2021, trading the XRP coin was suspended.
XRP was specifically created for businesses to provide liquidity in cross-border payments. Banks can use XRP to obtain real-time liquidity on demand without having to pre-fund a Nostro account.
The XRP cryptocurrency features an open API that allows DApps developers to connect to the ecosystem, getting all the information of the virtual architecture.
What Is The Price Of XRP?
XRP price today is 0.7166 USD.
Where To Buy XRP And Store Coins
Users who think about where to buy XRP coin can get it on more than 100 markets and digital asset exchanges. It includes StealthEX, Binance, Kraken and other popular platforms. Users can read recent news and check the XRP price today there. They are also allowed to store coins on exchanges, but they don't provide the best security.
For more safety, it's better to use mobile or web wallets, such as Freewallet or Atomic Wallet. They are free, and users can access them from different devices.
The main pros of XRP are the following:
- Alternative calculation method for banking systems and private users.
- The official status of the company and work in the legal field: a legal entity registered in the USA.
- Cooperation with the world's largest banks.
- Payment gateway technology instead of a traditional blockchain.
Moreover, experts note the following risks, which are typical for all digital currencies. This is the problem of legalization of transactions and recognition by global central banks which can increase the XRP price.
As for the XRP price prediction 2025, it is quite difficult to assert the stability of cryptocurrency in the long term, because different circumstances can come into force during this time. If the company continues to develop in the way it does now, the next few years will not only see an increase in the cryptocurrency rate, but also an increase in its importance in the banking sector.
"There is no longer any question of whether Ripple has the potential to shake up the world of finance. The only question is just how quickly the Ripple revolution is going to take place." – Nichehunt
“I don’t think you can make a horse and (SWIFT) keep up with a race car (Ripple)” – Brad Garlinghouse (CEO of Ripple)
“I believe in Ripple and I’m convinced that the technology is real and revolutionary.”- Cory Johnson (Chief Market Strategist of Ripple)
Should I Invest In XRP?
After all, the project has potentially fewer risks, as it has the support of big financial institutions at a global level and works in a common legal field with them. Moreover, it brings real money to its creators.
Although the project is widely criticized for its lack of decentralization, the company makes every effort to increase the number of independent participants in the network. So, XRP is a reliable means of payment and a profitable currency to invest in for the long term.
How To Buy XRP?
If you are looking for where to buy XRP ccrypto, we will show you how to buy XRP cryptocurrency for another crypto using the StealthEX exchange platform. It’s a super-friendly, non-custodial and limitless cryptocurrency exchange platform. So if you already have savings in crypto and wish to invest in XRP coin, just go to StealthEX and follow these easy steps:
- Choose the pair and the amount for your exchange. For example ETH to XRP.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your XRP coins.