Understanding XRP Crypto – Ripple’s Native Cryptocurrency Explained

What Is XRP Crypto?

XRP is the native cryptocurrency of the crypto solutions platform Ripple. It was released in 2012 as the following duplication of Ripplepay which is a network of institutional payment providers. XRP was created based on a shared public database. The platform called Ripple performs as a currency exchange, remittance network and RTGS at the same time. RTGS stands for real-time gross settlement system.

XRP comes after the top two cryptocurrencies, i.e. Bitcoin and Ethereum according to the CoinMarketCap data and is known as the third biggest crypto in the world. Before the name was given, XRP was primarily traded as Ripple Labs.

How Does XRP Work?

Ripple, the open-sourced Blockchain network of XRP token operates in a P2P (Peer to Peer)

server interface and the coin XRP helps with the financial transactions made on its network. 

Considering the traditional method for making cross-border payments, Ripple made a collaboration with various financial systems across the world and provided a cutting-edge solution through blockchain technology. With the help of this solution offered by Ripple, global payments were made instantly, reliably, as well as cost-effectively by the financial institutions all over the world.

How to Buy XRP?

If you are trying to purchase your first digital coin, then you should do your own research about which one would fit you well rather than opting for one others are buying. But if you already know where you stand in this crypto universe, then buying XRP would not be an issue at all.

You can just simply opt for several online cryptocurrency exchanges available in the market at the moment, such as Binance, Coinbase, etc. XRP remains one of the top-traded cryptocurrencies by market cap. It is the native token for the Ripple ledger, which was designed as a payment system for business purposes.

Are Ripple and XRP The Same?

People often consider XRP as Ripple, while the truth is Ripple is the ledger network in which the cryptocurrency XRP runs. In the Ripple network, XRP is the medium that connects all the different payment procedures to complete a transaction from one owner to another.

Both are connected to each other as the Ripple ledger technology company is completely dependent upon the coin XRP and the coin cannot perform even a single transaction without the help of the ledger. Currently, XRP is the only native coin announced by the Ripple network.

How High will XRP Go after a Lawsuit?

As the number of XRP users is continuously growing, soon it will be chosen by almost

every economic enterprise for making all their cross-border payments. Due to the fact

that XRP is made for the institutional or business use cases while making international

payments, the expected price of Ripple can possibly touch the $100 mark in the days to come.

Currently, there are more than 45 billion XRP in circulation and the network recently unlocked a huge amount of XRP from one of its escrow wallets and sent them to a separate

unknown wallet which, again predicts that a price surge of $100 is possible in the future.

What Is xCurrent Ripple?

xCurrent is a messaging solution by the remittance network Ripple for the economical

enterprises to confirm payment details. It is also used by the banks as a global real-time

gross settlement which is commonly known as RTGS.

Using xCurrent, banks can instantly settle all their cross-border payments followed by end-to-end tracking. The messaging service is built around the InterLedger Protocol (ILP) which facilitates inter-functions between various ledgers and networks.

XRP VS Bitcoin

Bitcoin is known as the most significant cryptocurrency in the Coin market cap and it

has countless differences with XRP. Here are some of them listed below:

• XRP can quickly make cross-border transactions unlike BTC
• Bitcoin is wholly decentralized whereas XRP is more centralized
• All XRP services are only for the financial institutions and banks while BTC transactions don’t allow the involvement of any third parties
• Bitcoin was created with the only intention to serve the newly found financial institutions. Conversely, Ripple supports and helps the already surviving financial networks and improve their capabilities for making worldwide transactions.

Is XRP a Good Investment?

Like any other investment options, investing in cryptocurrencies also comes with its own unique set of risks as well as benefits. However, XRP is underpinned by its very own Ripple blockchain technology, which ensures secure, fast and cost-efficient transactions.

Although various leading crypto investing organizations believe that XRP is about to rise till $8 in the next five years, we can just say that only the time would say what the future holds. Looking at its special and unique features as well as use cases at the market, XRP has the potential to go up and attract more users in the days to come.