ripple & xrp

After Bitcoin and Ethereum the 3rd ranked crypto in market cap is xrp. I find the coin very strange as it isn't mineable and it is designed to be very transparent.

Xrp is well know as some commercial banks accepts and uses xrp in transactions. Ripple who owns a majority stake of xrp has a priority software sold to banks for ease of use in xrp transactions. All transactions would be marked with buyer and seller and fees are low. (Every transaction basically destroys about 1/1000 of cent in xrp.) This is to avoid falsifying transactions and avoiding transfer slowing down do to over use. Because it is an exchange of crypto a transaction would be completed in minutes versus tradition banking exchanges that could take days.

Ripple the company that distributes the xrp is the gate keeper. It is said they release 200-300million xrp a month. That equates to about 0.0075% of the available xrp on open market. So it won't devalue the coin with each new distribution. However in my opinion it won't help appreciate xrp value as there will always be a flow of new coins for a very long time. Ripple has been mentioned to have create over 100billion xrp in the coins life span. Time will tell.

Ripple has been adopted widely and just today news of Bill Gates joining in on the use.
https://www.cryptocoinsnews.com/gates-foundation-taps-ripple-to-develop-mobile-payments-services/amp/

It is pretty cool to see commercial world has already adopted to a coin beyond bitcoin. No wonder xrp market cap is so high. The transparency is totally opposite to many other altcoins.