Steemit Crypto Academy Seaoson 2 Week 1 | Homework Post for @yohan2on - Altcoin Part 1 "Ripple (XRP)"

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Alternative cryptocurrency or often referred to as "Altcoin" is a type of cryptocurrency other than Bitcoin that is present as a solution to the high market demand for Bitcoin. Altcoins provide more options for investors and traders who want to get involved in the cryptocurrency world. In this post, I will discuss one of the most famous and trending Altcoins recently due to a significant price hike, namely Ripple (XRP). This topic is the homework given by professor @yohan2on for this week in the Steemit Crypto Academy community.

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XRP is a cryptocurrency launched by the Ripple Labs company in 2012 and used on the Ripplenet platform. Ripple Labs is a technology company based in San Francisco, United States. The project was originally called OpenCoin and the Ripple Labs company was formerly known as Ripple. This cryptocurrency has the advantage of being able to be transacted quickly in just 3-5 seconds at a very low fee. This is a good choice for us of course.

XRP makes it easy for us to make transactions and payments between fiat currencies and cryptocurrencies with a trusted banking system and financial services because Ripple is supported by several large banks. In addition, if you want to have it, you can also buy it on various exchange markets because XRP is very easy to find and is available in almost all cryptocurrency trading exchange markets.

XRP is a non-mineable cryptocurrency like Bitcoin because all XRP coins can only be supplied by the Ripple Labs company. Unlike some other cryptocurrencies that use a decentralized blockchain system, XRP actually uses a centralized system so that only the power holders have the highest authority in decision making.

In 2018, 2019 and 2020, XRP experienced several controversies which caused its price to drop dramatically due to several alleged problems. However, recently XRP prices have started to show signs of improvement as the lawsuit cleared.

To get various additional information regarding the XRP coin, I decided to visit the website https://coinmarketcap.com and find out about this coin specifically there. Here is some of the information I have gathered.

Currently the price of XRP is $ 1.68 with a market cap of $ 76,182,294,125 and it is 4th out of all cryptocurrencies. The current circulating supply is 45,404,028,640 XRP from the maximum supply of 99,990,831,162 XRP. Over the past 24 hours it was noted that XRP trading volume reached $ 21,313,290,847 with the lowest price per XRP being $ 1.45 and the highest price being $ 1.75.

From the graph, it can be seen that the XRP price is currently in a positive trend after having fallen for two years. When viewed from the graph, the price of XRP has the potential to increase and of course this provides an opportunity for us to reap the benefits of investing in XRP. Rumors of an increase in the price of XRP in the future have also been widely reported in a number of well-known media.

As one of the most popular altcoins today, buying and trading XRP is not difficult because XRP is available on various cryptocurrency exchanges and you can trade it there. Among them are Binance, Huobi, KuCoin, Bitfinex, Kraken, Gate.io, Bitstamp and others.

There are several trusted wallets that you can use to store the amount of XRP you have. Among them are Ledger, Trezor, MathWallet, TrustWallet, Coinbase, Cobo, HyperPay, SafePal and Atomic Wallet.