Ripple or in other words XRP, Is one of the most popular cryptocurrencies. Its project, vision attracted and believed so many people. In this article, I’m about to show you why. in fact, Is XRP a good investment?
So many things to talk about the ripple project. It’s success gone so far now with achievement of #3 ranking in cryptocurrency market capitalization.
Besides, It’s the coin that ranked with 43billion coins in circulating. Need more words to describe its success?
However, I will explain the ripple project and what are the potentials in the future. also could take this article as a ripple prediction.
Before that, In this article, I will be mentioning the most important facts that you need to know about the Ripple project. I do focus on potentials in the future.
What is Ripple?
Ripple is a solution for global payments within the blockchain technology. And it’s the one and only global payment solution that runs on the blockchain. It is called RippleNet.
And it is a centralized cryptocurrency that comes to contact between two parties privately.
“A Digital Asset Built for Global Payments“
That’s how the Ripple project describes XRP.
Why Ripple that much popular? To figure out that, Let’s dive into some benefits of Ripple.
Speed
Ripple says, Transactions moving across the XRP Ledger settle within 4 seconds. That is a huge benefit comparing to other cryptocurrencies. Can you believe bitcoin transactions could take about 1 hour +? You may have experienced it. Leave a comment.
In that situation, Ripple is far ahead from other cryptocurrencies.
Check out this speed comparison that I took from the Ripple official website.
Scalability
Ripple had mentioned that they can handle 1,500 transactions per second. And it’s a consistent amount.
How is this thought comes in action?
You know that millions of people using cryptocurrency for payments, tradings, holdings, etc. Whatever they do with cryptocurrency, they make transactions. Even millions of transactions happen within a second. Think about this way.
You are working in an office, You have to check so many files alone. You check files and complete them. But it takes so much time. because you are doing it by only yourself. Think, a group of people have to check those files. In that situation, the progress will speed up.
This simple example is the basis of any blockchain technology.
1,500 transactions within a second mean Ripple network is superfast. One of the main reasons for the success of the Ripple project.
See this comparison.
TPS – Transactions Per Second
Distribution
Unlike worldwide miners of other cryptocurrencies, Ripple has several blockchain-powered validators globally. This is a centralized cryptocurrency so it doesn’t need miners to validate transactions.
A set of validators do miner’s job instead.
These are the main specifications of Ripple that caused the success of the project. in my point of view.
Ripple XRP was established in 2012. And their main vision was “using blockchain technology and digital assets to enable financial institutions to send money across borders, instantly, reliably and for fractions of a penny.“
Since now, We could say that they have completed their achievement.
Currently, the Ripple team has over 350+ employees, 300+ customers, and 6 global offices.
Okay, now it’s time to discuss the price potentials in the future. In blockfinest style.
Basic Characteristics Of Ripple
Price
Currently, XRP price is ranging around $0.21 USD which equals 0.00002606 BTC. XRP is now completed several market cycles and now it’s might be the time to start a new market cycle.
XRP all-time high was $3.84 USD on Jan 04, 2018. It is when the bitcoin started the bull run. All-time low as $0.002802 USD on Jul 07, 2014.
However, its an increment of 7500% considering the current price. Remember, Ripple has 43,366,238,611 XRP in circulating.
Think if you hold XRP that bought back in 2012.
Market Capitalization
The main coin ranking factor is market capitalization. Circulating supply and price of a single coin decides the market cap of a coin.
Talking about ripple, Is the #3 highest market cap rank from all the cryptocurrencies. And it’s the coin with the highest number of circulating supply that ranked in the top 3.
Currently, Ripple market capitalization is around $9,154,720,343 USD which equals 1,130,237 BTC. Awesome right?
In 2018 January, The market cap was $130,963,953,518 USD at $3.84 USD. Really? Compare it to the current market cap.
By considering the above facts about market capitalization, Can assume a massive future hype. You may ask is XRP a good investment?
I could say yes. But, your personal research always good for you.
Supply
There is an interesting fact about the Ripple supply. Instead of releasing few coins to the circulating and let rest coins to be mined, Ripple instantly released 100 Billion XRP coins initially.
Which means Ripple cannot mine. I already mentioned that earlier. Ripple has several validators globally instead of decentralized miners.
100 Billion, That is insane. But, there’s another thing. Ripple placed 55 Billion XRP in a cryptographically-secure escrow account. Currently, the circulating is around 43,366,238,611 XRP.
Normally, Higher supply means low price value. But it depends. In Ripple, it’s a pretty high amount that ranked in #3. That because of their success.
I wanted to say, with that amount of coins, ripple done an awesome job in the cryptocurrency industry. investing in Ripple is still worthy.
Why?
Cryptocurrency is developing day by day. More people tend to invest in cryptocurrencies. So the market demand is getting higher. So early investing in these cryptocurrencies could make a huge profit in the future.
The choice is yours. I’m here to educate.
Summary
- A digital asset built for global payments
- High-speed transactions
- Low transaction fees (0.00001 XRP per transaction)
- Higher security
- Scalability
- Ripple cannot mine
My opinion is ripple is a perfect cryptocurrency to invest. Now you know why. For traders use technical analysis to predict future pricing.
Where To Buy Ripple?
Today, Ripple is successful enough to get listed in major cryptocurrency exchanges like Bittrex, Poloniex, CEX.IO.
Beyond that, see the full market pairs in coinmarketcap.com
https://coinmarketcap.com/currencies/xrp/markets/
Where To Store Ripple?
There are many wallets to store Ripple. But we have to make sure that it is trusted and secure. Also, it is the first thing that we have to consider when looking for a wallet.
I found an interesting article about Ripple wallets.
https://cointelegraph.com/ripple-101/ripple-xrp-wallets-for-beginners
There you will discover some trusted and secure wallets to store XRP Ripple.
Bottom Line
This isn’t an ICO or scam this is an existing legit cryptocurrency review.
Disclaimer: This article is for informational and educational purposes only. Nobody can take this as a piece of investment advice or legal advice, etc. When investing “do your own research”
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