Ripple (XRP) has experienced rapid growth in the past year or so, with XRP’s price skyrocketing from just under $0.01 in April 2017 to $2.10 at the time of writing this article on May 11th, 2018, marking a 3000% increase in the cryptocurrency’s value within 12 months.
The Team Behind Ripple
Ripple is being developed by a company called Ripple Labs. The company was founded by Chris Larsen, Jed McCaleb, and David Schwartz. All three are experienced in the world of technology and finance, which makes them uniquely qualified to develop this new payment system. Chris Larsen is a seasoned entrepreneur with over twenty years of experience in Silicon Valley. He co-founded two successful companies before starting Ripple Labs with Jed McCaleb and David Schwartz.
Why Invest in Ripple?
What is ripple? It is the world's most used and fastest digital asset exchange. It can be used as a currency or traded as a commodity.
Ripple has many benefits, including being fast and cost-effective. The average transaction time for ripple is 3 seconds, while Bitcoin takes an average of 10 minutes, and Ethereum takes 30 seconds. For each transaction on Ripple, there are 20 transactions on Ethereum and 2000 transactions on Bitcoin. As of October 2017, it was trading at $0.36 which is 0.00009 BTC (a little less than 1 penny). That makes it much more affordable than other cryptocurrencies currently in the market today.
Use Cases for XRP
Ripple is the only blockchain-based solution for global payments, which offers significant time and cost savings over existing cross-border payment systems. In addition, the average transaction time of Ripple is only 4 seconds (compared to Bitcoin's 10 minutes). This means that if you want to send a money transfer from one part of the world to another, it would take around 2 minutes instead of 10. The transactions are also transparent and cryptographically secure. The Ripple token is used in order to incentivize the servers in this network and provide protection against spammers by making them incur more costs for their actions. There are 100 billion Ripples available with each coin being valued at about 0.25 dollars as of March 2018.
Should You Buy XRP?
Ripple (XRP) has been around for a while and is still not the most talked about cryptocurrency. This means that you could potentially get in on the ground floor before it becomes popular. It also has a lot of partnerships with companies like SBI Holdings, Santander, American Express, MoneyGram, and more! If you're looking for something more conservative than Bitcoin or Ethereum but still want to be involved in the blockchain/crypto world then this might be a good option for you. As always, do your research and make sure that you understand how crypto works. For example, as it stands right now there are 100 billion XRP tokens out there but only 38 billion are currently in circulation. That means that the other 62 billion tokens will slowly be released over time at an approximate rate of 1% per month until they've all been released at which point the total supply will reach 100 billion.
Price History and Forecast
Ripple is a cryptocurrency that has been steadily climbing the ranks in terms of market capitalization, overtaking Ethereum and Litecoin. The main thing that sets Ripple apart from other cryptocurrencies is that it is designed for enterprise use, with a focus on providing services such as remittance and cross-border payments. It is more centralized than many other coins, though not fully so. Ripple can be mined using a regular computer’s CPU or GPU, which makes it easy for anyone to participate in mining—and earn some XRP while they’re at it.
