Ripple (XRP) has been in the top 10 cryptos in market cap for a while and things so far have been good with the altcoin getting attention from the banking industry. This is because of its network protocol that replicates payment settlement systems, banks are eager to learn about this blockchain system that will change the world of transferring payments.
Ripple aims to have a piece of the cake for transaction fees involved in transfer of payments within the world. The major difference about Ripple and other cryptocurrencies is that they have decided to play by the rules in the finance and banking industry. This is what Ripple (XRP) CEO Brad Garlinghouse had to say in regards to cooperating with industry policies & regulations;
“It’s incredibly important that the entire industry recognizes that we have to work with the regulators, we have to work with the system.
“The blockchain revolution is happening from within the system it’s not going to happen from outside the system.”
Why Buy Ripple (XRP) over BTC
As mentioned earlier, this is one unique crypto when it comes to its design. The XRP coin has made some developments and enhancements in its protocol for easier integration with the current market operations.
- Centralized Network
It is common knowledge that cryptocurrencies are decentralized but Ripple’s technology stands out when it comes to this issue. Ripple have embraced a centralized system which is one of the catalysts for adoption within the banking industry. The limited company, Ripple owns the cryptocurrency and is more focused on ensuring best KYC practices for banks within the blockchain platform.
- Approval Efficiency
Ripple (XRP) is changing the nature of transactions in today’s world, the altcoin has a protocol geared towards effectiveness in the network. The likes of Bitcoin have been slow means of transactions as opposed to their initial intended purpose, this is where the Ripple technology is about to gain mileage from. Users within the Ripple Network have a couple of flexible options when it comes to transfer of funds; one is able to move fiat and cryptocurrency at a speed of less than a minute all over the universe. Ripple is a market force to reckon with in the crypto arena as it gradually works on its roadmap that will see cost and speed of transactions improved, platforms such as SWIFT may eventually be faced out.
- Ease of Acquiring
Differences between Ripple and other coins only get more and so does the working product quality. Ripple in its existing form saves users the hustle and cost of mining, the pre-minted coin is supplied by the parent company to be sold in a couple of coin exchanges. This means that users don’t have to be tech savvy to acquire or use Ripple (XRP).
XRP Price Analysis
This large cap coin is currently 3rd in market capitalization although the price of one XRP coin is still below the $1 mark. Being a coin on the rise and recently receiving much attention, it is one of the cryptocurrencies traded in over 100 coin exchanges with Bithumb leading in volume. There are currently over 39 billion XRP coins in supply with a low liquidity ratio of 0.36%. XRP is relatively volatile with a 15% 5 day volatility; this ranks ripple (XRP) second among its peers in the large cap category.