![]() ![]() In December 2020, the SEC filed an action against Ripple INC. Since the original vision of Ripple was focused on allowing everyday people to make global transactions, like remittance payments, inexpensively and quickly, the pivot to focusing exclusively on banks was seen as a turnoff by many.Īnyone who likes the Ripple platform but doesn’t like Ripple the company, may want to use Stellar – a Ripple fork by Jed McCaleb – as it has more of an altruistic vision. While XRP has some huge advantages over other cryptocurrencies, some would argue that it is a big brother platform for making global transactions. This means that a bet on XRP is a bet on Ripple. As it stands, many banks don’t want anything to do with XRP because it can dramatically change in value overnight or even in a few seconds.Ī long-term appreciation in the value of XRP is ultimately the end game strategy for Ripple, as they hold the majority of XRP in existence. The goal is to turn XRP into a stable currency that doesn’t deviate in value much, so banks would be comfortable moving into it without fear of volatility. ![]() In 2018, XRP went on to reach an all time high of $3.84 a coin – a long way from its prices just a year before. This huge surge in value was due to both bank adoption and speculative interest. XRP took off in value in 2017 when it went from under $0.01 to over $0.30 a coin. While large scale investors may be able to invest in Ripple directly, most other investors and speculators are limited to investing in XRP, Ripple’s native currency. It’s been included in Forbes’ annual Fintech 50 several times, most recently in 2020. Considering that banks perform thousands or perhaps millions of transactions every year, this would represent significant savings.Īs it currently stands, Ripple is an exciting fintech organization with its innovative financial platform. Many financial institutions and payments firms have joined the RippleNet platform, including Santander, MoneyMatch, the Bank of America, SBI Remit, TransferGo and more.Īccording to Ripple, banks can realize cost savings of between 33-42% by using their protocol. ![]() XRP is a cryptocurrency aimed mainly at financial institutions so they can convert their funds into XRP and transfer it quickly to other institutions around the world.Īs for the performance of the Ripple network, aka RippleNet, an XRP transaction takes 4 seconds to settle on average, with the network able to process up to 1500 transactions per second – all with a transaction cost of just 0.00001 XRP for each standard transaction. An IOU can be issued for any type of asset, not just currencies. I owe you) and can be traded between different institutions. That's why we've built a customizable news feed to stream the latest stories right to your device.The Ripple Transaction Protocol (RTXP) supports two types of currencies – IOUs and XRP. Now you can track your gains in style without compromising on features.īut numbers are only half the game. For the more active trader, we provide Advanced Portfolios to give you full control over every transaction you make. Create a Quick Portfolio to begin tracking your bag's worth in just a few seconds. Our customizable portfolios are great for everyone from the crypto novice to the hardcore trader. That's over 100 MILLION base currency combinations! ![]() Perform price conversions with ease with our all-inclusive primary and secondary base currencies. With this app you gain access to real-time data for 8,000+ coins pulled directly from hundreds of exchanges. Sync your portfolios and watchlist from the web platform for quick access on all your devices. Now you can take your favorite crypto index on the go with this powerful, lightweight mobile app. Since 2017, LiveCoinWatch has been an industry leader in cryptocurrency analytics and portfolio tracking. New to crypto? Our chat is the perfect place to get help. Track your favorite coins, create unlimited portfolios, and get the latest news - all in one place. ![]()
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