What is Ripple (XRP)
XRP is a cryptocurrency of Ripple network, which is a money transfer network for financial services to exchange fiat currencies, cryptocurrencies and commodities. XRP developed in 2011 and officially started on 2012. While XRP is usually among the top ten cryptocurrencies by market cap, Ripple is currently in a legal battle with SEC.
Main characteristics of XRP:
- It started in 2012
- It is famous for its very fast and cheap transaction fee
- It is known to be used by large institutions
- It is the fifth cryptocurrency by market cap, excluding stable coins, as of July 2021
XRP surges with other cryptocurrencies during bullish season; however, its legal battle makes this coin a bit risky to invest in, which might/might not come with higher reward and loss. There are some criticisms regarding this coin’s decentralisation system and large supply that is held by few people.
Things to consider before investing:
- Do your own research before investing in this coin
- Do not invest money in this market that you cannot afford to lose
- More volatility has been experienced in XRP recently, due to its legal battle with SEC
XRP has been showing promising performance in the crypto market, although it has not reached its all time high during 2021 bullish season. It is predicted that XRP will continue to grow and perform better when the legal battle with SEC is settled.