What Is Ripple Cryptocurrency XRP Coin?
XRP coin is one of the most demanded cryptocurrencies. Despite the controversy surrounding this project, the number of token holders doesn't stop growing. The reason is that the XRP coin is completely different from other cryptocurrencies because there is a bigger idea behind it.
XRP price today is 0.3799 USD.
- The history of XRP crypto goes back to 2012. The project was originally called NewCoin but was quickly renamed to OpenCoin. A team of developers launched a new cryptocurrency platform Ripple with an internal currency XRP.
- In Autumn 2013, there was a rebranding, and OpenCoin became known as Ripple Labs.
- From 2014 to 2019, Ripple Labs Inc. focused on the banking market. Fidor Bank became the first financial institution to cooperate with Ripple. A bit later, Cross River Bank, CBW Bank, and Earthport Payment Service also started using Ripple services.
- In 2017, the US and the UK, and Japan and South Korea started using the Ripple platform for trans-border money transfers.
- In late 2020, the SEC got interested in Ripple. Its experts launched an investigation and later took the case to court. Regulatory officials insist that the nature of the asset relates to securities. If the SEC proves its position, the project will face heavy fines and will have to report to the regulators.
- Despite problems with the SEC, more people start looking for how to invest in Ripple. So, its price increased by 60% in 2021. Furthermore, according to the recent XRP news, Garlinghouse expects that this case will be resolved in 2022, making this token more reliable.
Ripple XRP Features
A question about where to buy XRP crypto is getting more frequent due to these pros:
- Ripple has a high transaction speed. This cryptocurrency can process 1500 transactions per second with an average register confirmation time of 3-5 seconds.
- Ripple has a high level of protection against hacking and cyberattacks, which implies a low probability of hacking or other illegal acquisition of coins.
- Ripple coins are not subject to inflation. This is achieved because new coins are created in the same volume as the old coins are retired.
- Transaction fees are minimal when compared to transaction fees of other cryptocurrencies.
- Possibility to edit the transaction after requesting it or cancel it altogether.
- This cryptocurrency is eco-friendly. There's no mining and no energy costs on this process, and transactions themselves are almost instant.
However, there's a shortcoming all XRP holders should know. Ripple Labs owns about 50% of all coins present in the system, from which there is a possibility to manipulate currency rates.
Other Ripple Labs, Inc. Projects
Besides XRP, Ripple Labs works on:
- RippleNet, a network, providing access to thousands of financial institutions worldwide.
- XRP Ledger, a decentralized blockchain with a quick and efficient consensus algorithm and censorship-resistant transaction processing.
- RippleX, a platform for developing projects on XRP Ledger, allows developers and their users to send and receive payments securely.
XRP Price Prediction
Despite legal issues, Ripple is still in demand. In November 2021, it started partnering with the Republic of Palau for creating a digital currency strategy for this country. A month earlier, it joined the Digital Pound Foundation, which works on digitizing the British pound.
Will XRP rise? According to Ripple XRP news, founders have even more ambitious plans for the future. That's why experts have a positive XRP price prediction. A WalletInvestor team believes it will get over $3.58 by January 2025. PricePrediction experts even expect it will cost over $5.46 by the same time.
Is XRP A Good Investment?
Overall, XRP is a project aimed at making cryptocurrencies in demand not only by individuals but also global banks. With fantastic plans and a reduction of risks from the SEC, this token seems a profitable investment.
Where Can I Buy XRP Now?
The safest way to buy XRP is StealthEX, a non-custodial exchange for secure and stable transactions. Select from over 400 cryptocurrencies, provide basic details, and wait a few minutes to get your tokens.
How To Buy XRP?
Just go to StealthEX exchange and follow these easy steps:
- Choose the pair and the amount for your exchange. For example, ETH to XRP coin.
- Press the “Start exchange” button.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your coins!
You are more than welcome to visit the StealthEX exchange and see how fast and convenient it is.
Follow us on Medium, Twitter, Telegram, YouTube, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected]
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.