XRP, The Cryptocurrency of Ripple
Indeed, Bitcoin ($BTC) is still be the leader of all cryptocurrency in the world. It is a grandfather and a coin. And the others are Altcoins. But today I talk about Ripple or $XRP in this post.
When I started creating this contents, the live XRP price of XRP in CoinMarketCup(CMC) is still at $1.39 USD. And CMC wrote that a 24-hour trading volume of $16,435,806,335 USD.
This means XRP is up 12.59% in the last 24 hours. If you read about XRP in CMC you must get more these information;
The current CoinMarketCap ranking of XRP is 4. XRP reached its market cap to $63,151,998,485 USD. It has a circulating supply of 45,404,028,640 XRP coins and a max. supply of 100,000,000,000 XRP coins.
Now let's talk a brief description of XRP
The History of Ripple
I am sure most of Steemian got much more about XRP. You must know it, mustn't you? The story was begun when Jed McCaleb created the XRP (Ripple Labs) in 2012. He is also a man who created another crypto company called Stellar (STR). The two companies were founded in San Francisco, United States. Ripple Labs is what makes a cryptocurrency called XRP. For Stellar (STR) made by a company called the Stellar Development Foundation.
What is Ripple?
XRP is a crypto/digital currency based on an open source internet protocol designed to invest and conduct financial transactions easily, cheaply and quickly globally.
By now, all of you have understood that cryptocurrencies are applicable to the whole world, wherever we are. We can make transactions wherever and whenever we want.
You live in the United States of America wanting to buy 1 kg of coffee from me who lives in Indonesia. Of course you will have to pay my money because I already sent you 1 kg of coffee. There is a problem, however, that sending money totaling only $20 dollars to the bank requires a higher fee.
Making transactions in various parts of the world using XRP is indeed very precise and fast because the system is already running well.
The Objective of Ripple
Every company that creates an innovation has a purpose, and Ripple Labs does too. They created Ripple with the aim of storing wealth or it could be called investing.
In addition, the main purpose of creating Ripple is as a global transaction tool. Payments and transfers from various countries with various currencies to commodities can be done on one platform, namely Ripple.
Benefit of Ripple
Transactions are carried out easily, quickly and cheaper.
Making transactions with Ripple saves time and effort
Ripple is an official organization that is not subject to regulatory scrutiny like most other cryptocurrencies.
Security in transactions is guaranteed safe
Ripple is able to exchange the currency of any country and any object such as commodities at standard (cheap) prices.
Ripple is an internet-based crypto currency, so the value of its currency cannot be regulated by any bank or institution even by its creator.
XRP
Ripple or XRP (the cryptocurrency of ripple) has now started trading coins on its platform since 2018. Ripple coins are the same as Ethereum or Bitcoin which also a cryptocurrency. Now Ripple is the crypto with the fourth largest market capitalization after Bitcoin (BTC) and Ethereum (ETH).
An investor from Angel and a business executive and privacy activist as well named Chris Larsen expressed his opinion about Ripple (XRP), he saw a huge market opportunity in crypto coins.
Until now, ripple has been able to compete with the prices of Bitcoin (BTC) and Ethereum (ETH) which were already established from it.
The development of the XRP, which is very significant, up to 11% from its previous price, has taken Ethereum's position as the second most traded coin for a while. With this, it is evident that Ripple has started to gain the trust and interest of smart investors to invest.
In addition, several features from Ripple have been added for its users, namely personal API Keys and Gift Vouchers to share balances with 1 other user.
Refference: Bitcoinwiki, CoinMarketCap.