The cryptocurrency for banks is how I see XRP, they aim for cross-border payments and have a customer base around the world. The US doesnt like them, as they are creating a better systems as the FedNow service so they have attacked Ripple blaming it a security, but lets be clear, XRP is as much a security as USD is.
Let me try to explain it with a Example
XRP is a cryptocurrency that has been in the news a lot lately, but not for good reasons. The SEC is currently suing Ripple Labs, the company that created XRP, for selling unregistered securities. If the SEC wins the case, it could have a devastating impact on XRP's price and make it very difficult to trade. On the other hand, even if the SEC loses, or pulls out it has been suggested that the... More
XRP was built to be heavily integrated into the fiat banking system.
Fiat currencies always end up being overprinted and become worthless. Therefore, the fate of XRP is obvious.
On top of that, the majority of the supply of XRP is totally controlled by insiders.
I would stay away.
UPDATE: So this is an interesting twist. Will Ripple be the system that mints and burns CBDCs? I don't know for sure, but it does make a lot of sense. Here's a screenshot from their website.
I thought XRP would be a good token to bring to the spotlight this week as it is a token which loves to divided opinion within the crypto world & with its current ongoing battle against the SEC it is very much in the public eye right now.
XRP serves as a token within Ripple's (its parent company) payment and exchange network, which aims to facilitate fast, cost-effective and seamless global... More
So overall the marketing is not great at all. But thy have a good explainer series found in the "about" page. They list a few things in that series like tokenization and a DEX, but instead of smart contracts, they achieve those with built in ledger features that work differently than a smart contract. They also have some unique features like corporate wallets, that allow multiple people to access... More
XRP presents a mixed perspective for me. On one hand, it is one of the oldest cryptocurrencies that has stood the test of time with strong fundamentals and a dedicated, cult like community supporting the project. Its popularity as a payment method, evident from its adoption by numerous high-profile financial institutions through RippleNet, should also not be understated.
However the centralized... More
Ripple is a company which has indeed created multiple billionaires through its cryptocurrency holdings. It is worth mentioning that the distribution of cryptocurrency among its founders can create complex incentives within the company. Let's take a closer look at the three individuals I mentioned:
1️⃣ Brad Garlinghouse: Brad Garlinghouse is the CEO of Ripple. Prior to his role at Ripple, he held... More
When it comes to the XRP community i will give them a solid 5 stars! The XRP community is enthusiastic and dedicated.
The XRP community, often referred to as the "XRP Army," is known for its unwavering loyalty and fervent support of the asset. They are highly active on various social media platforms like Twitter, Reddit, and dedicated XRP forums, where they share news, analysis, and updates... More
There are many reviews talking about description and how XRP works. So I shall highlight the green flags and red flags then you have your own managing risk.
Advantages
XRP has the first advantage that there is no inflation. The management team are all experienced professionals in the financial sector.
Ripple's cooperation with more than 100 banks is a great advantage of XRP because the... More
Ripple, the company behind XRP, has faced ongoing litigation with the U.S. Securities and Exchange Commission (SEC) regarding the status of XRP as a security. The outcome of these proceedings holds significant implications for XRP's future, and potential investors should be keenly aware of this.
Additionally, Ripple's operational model has raised decentralization concerns. The company holds a large portion of the total XRP, leading to criticism from proponents of decentralization.
While XRP demonstrates strong potential to revolutionize international remittances with its speed and low fees, it's yet to be seen how it navigates through its legal challenges and centralization concerns.
XRP and the Ripple network have been unique contenders in the cryptocurrency space since their inception. Notably, XRP differentiates itself by focusing on seamless international transactions, particularly targeting the banking and financial sector. Its primary goal is to become the standard for digital transfers of value across borders.
Its consensus algorithm, the Ripple Protocol consensus... More
XRP boasts one of the most passionate, cult like crypto community’s in the industry that’s for sure. This community has dedication and unity towards its token but are considered the ‘black sheep’ of the crypto world from other crypto communities – mainly the more decentralised focused ones.
One of the standout features of the XRP community is its collaborative nature. Members are constantly... More
Of the total 100 billion XRP tokens created, 20% were allocated to Ripple's three founders and Ripple received the other 80 billion tokens. One of the co-founders, Jed McCaleb, left the company in June 2013 to establish a competing cryptocurrency called Stellar. Over the years, Jed sold all of his 9 billion XRP tokens in accordance with an agreement he had with Ripple. The agreement ensured that... More
Behind the digital asset of XRP is RippleNet. RippleNet is a decentralized financial ecosystem with several digital payments and financial service providers using Ripple’s distributed ledger technology (DLT). XRP is the native coin of the network and is used by providers or enterprises who are part of the ecosystem.
RippleNet enables quick, real-time and low-cost convenient cross-border... More
Ripple has just started offering staking opportunities on the platform.
However, in true Ripple form, the staking platform is totally centralized and you need to apply to be an early staker. In addition, they are discriminating based on age and on-chain activity.
If you care about the core benefits of cryptocurrencies like Bitcoin, then this project is the exact opposite of that.
Here's the official announcement from Binance.
The XRP token was created by Ripple, a company that was founded in 2012. The company's co-founder, Chris Larsen, is widely considered to be one of the most influential figures in the cryptocurrency industry. Larsen is a serial entrepreneur and has been involved in a number of successful tech startups over the years.
The current CEO of Ripple is Brad Garlinghouse, who joined the company in 2015.... More
Financially speaking, Ripple, the driving force behind XRP, has established partnerships with prominent financial institutions such as American Express, Santander, and Standard Chartered. Moneygram facilitates cross-border payments through the use of XRP, while Coil enables content creators to monetize their content using cryptocurrency. In addition; Flare Networks is integrating the XRP Ledger... More
XRP`s marketing deserves a 5-star rating. The strategy for cross-border payments is strong!
Ripple has marketed XRP primarily to financial institutions, banks and payment processors such as Santander, Standard Chartered and American Express for cross-border payments.
The Ripple network, which uses XRP as a bridge currency, offers speed and efficiency and low-cost benefits compared to traditional cross-border payments.
Ripple Labs has promoted XRP as a cryptocurrency for individual investors, increasing its adoption.
The test-pilot projects for CDBC in Palau and Bhutan could potentially offer benefits for cross-border payments. This makes XRP an even more attractive option.
XRP is a cryptocurrency that is used on the Ripple network for fast, low-cost cross-border payments. It was designed to facilitate transactions between different currencies and financial institutions, and it has become one of the most widely used cryptocurrencies in the world.
The total supply of XRP is 100 billion tokens, of which approximately 45 billion are currently in circulation. The... More
The XRPL (XRP Ledger) is a blockchain and cryptocurrency platform that is designed for fast, secure, and low-cost transactions. It was created by Ripple Labs in 2012 and is now managed by an independent group of developers and companies. One of the key features of the XRPL is its consensus mechanism, which is unique compared to other blockchains.
The XRPL uses a consensus mechanism called the... More
XRP XRPXRP (XRP) is a cryptocurrency
