XRP is the digital asset powering the XRP Ledger, a blockchain-based global payments network. As one of the world’s most widely traded cryptocurrencies, its market cap surpasses fast food giant McDonald’s. Furthermore, this unique consensus model relies on trust instead of mining or staking for transaction validation making it more cost-efficient and time-effective than competing cryptocurrency networks such as Bitcoin.
Blockchain allows it to conduct cross-border transfers quickly and at a far lower cost than traditional international money transfer networks like SWIFT; its fee charges range from just a few dollars up to $50 per transaction.
RippleNet provides inter-currency exchange, linking two distinct currencies or networks together to make sending money abroad simpler for businesses and consumers alike. Furthermore, its features simplify banking across borders while offering competitive advantages over legacy infrastructure like SWIFT.
After 12 years, XRP has proven its longevity by withstanding every bear market encountered since it first appeared. Due to its numerous advantages over existing money transfer infrastructure, many experts expect it to stay around for some time yet.
As with any investment, XRP comes with risks. Its high degree of price volatility could make it a dangerous addition to a portfolio; investors should carefully assess their risk tolerance and consult financial advisors prior to investing. But for those willing to ride out occasional wild swings of crypto prices, investing in XRP could bring significant returns.
Ripple stands apart from many other cryptos by controlling 80% of its total XRP supply and can thus determine when and how it enters the market, impacting its value accordingly.
The XRP Ledger currently can process 1,500 transactions per second, and with Payment Channels coming out, this processing speed could scale even higher to support thousands of transactions each second. Due to low transfer and settlement fees associated with using this ledger, banks and institutions needing fast cross-border payments are becoming more interested in it as an efficient solution.
Ripple has made headlines for its efforts to work with US banks and financial institutions to improve cross-border payment systems, but due to being relatively new technology its adoption remains limited to banks in developed nations who possess the capability to implement changes effectively.
RippleNet could significantly lower the costs of international money transfers and open up new business opportunities for entrepreneurs who use its technologies to develop innovative solutions. As such, investors who began investing early could find themselves sitting on potential millionaire-making assets like XRP coin which was then trading at less than a penny price.