What You Must Know About Ripple XRP




If you’ve not been an avid reader about cryptocurrencies, then it’s possible you don’t know much about Ripple XRP. The biggies and oldies, that is Bitcoin and Ethereum, have been taking up almost all the space in the cryptocurrency scene.

But if you’re looking to be strategically positioned and be a part of the future of cryptocurrency, Ripple XRP is something you should pay attention to.

Ripple stands out for the following reasons:


Stellar Performance


2017 was a very interesting period as far as cryptocurrencies were concerned. We saw the major coins, Bitcoin and Ethereum, and others (including Ripple XRP) rise steadily throughout the year, eventually hitting astronomical highs towards December.

Everyone was excited, more people poured in dollars as investments and we all dared to hope that the Bull Run would continue. Then towards the tail end of the year, the trends changed and the prices of almost all cryptocurrencies took an unexpected dip. All except Ripple XRP.

XRP was the only cryptocurrency that stayed on a steady dollar-price rise all through 2017 and even up till early 2018.


Although XRP eventually dropped in price too on the 4th of January 2018, it held out longer than the other major cryptocurrencies. Also, at specific periods during 2017, Ripple XRP displaced Ethereum as the second most capitalize cryptocurrency topped only by Bitcoin.

The implication of all we’ve discussed above is that Ripple XRP has shown a very good performance in the past and will very likely repeat this in the future. Your investment in ripple has a high probability of bringing huge returns in the future.


Flexibility


Unlike many other cryptocurrencies (especially the emerging ones), XRP is not isolated. A bitcoin bridge connects it to the world’s foremost cryptocurrency. This means that Ripple users can directly transact business with parties that accept bitcoins without necessarily having to own them.

Also, XRP comes in handy when trying to carry make an exchange between two rarely traded currencies. Rather than having to strenuously find a means of exchange, you can carry out the transaction easily on Ripple by using XRP as an exchange currency.

Again, the ripple platform is so designed that it can be incorporated into the payment system of various banks. You don’t even need to exactly own cryptocurrency before you can transact business over Ripple. This feature allows for inclusiveness as a lot of people across various industries and countries can easily do business together in a rapid and efficient manner.


Stability


Unlike other cryptocurrencies that are regularly mined and are thus subject to fluctuations due to changing availability, Ripple XRP has a different approach. XRP is pre-mined. Meaning that there is a fixed amount available at inception.

Exactly 100 billion XRP were created, and about 20% were held by the owners. The company, Ripple labs releases the rest to users on the platform in bits. This ensures that there are no unnecessary inflationary shocks due to a sudden flooding of the system with XRP.
This point is a very important one because other cryptocurrencies experience spikes and drops in price due to sudden dumping and purchasing of large amounts of coins. This is not very likely to happen with Ripple XRP since its circulation is controlled.

Safety

When attackers want to hack a distributed ledger network like Ripple, they generate a lot of bogus transactions, this will lead to inaccurate settling of transactions. However, Ripple guards against this by charging transaction fees that increase with the size of a transaction. This will make it very expensive to try to override the system. Therefore, getting involved with Ripple by purchasing XRP keeps your funds safer.


Reduced Costs


The previously mentioned transaction fees are very low compared to other cryptocurrencies and, obviously, traditional fiat currency transfer. It has been estimated that Ripple saves financial institutions as much as $3.67 per transaction. With Ripple XRP, you can get funds transferred far cheaper than it would cost you otherwise.

Speed

On the Ripple platform, payments in XRP get sorted in just 3-4 seconds, this is faster than any other cryptocurrency. Also, XRP supports a whopping 1,500 transactions per second.

Licensed by authorities

Ripple was issued a Virtual Currency License, in 2016, by the New York State Deparment of Financial Services. Ripple was the second cryptocurrency system to obtain this license, and this shows a level of trust and integrity in the system.

Now that we’ve given you reasons why you should buy Ripple XRP, it’s time for you to explore its market potentials and reap the gains.

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