What is Ripple (XRP)

Ripple

XRP is a native token – The main currency in a blockchain often used to pay the network, the so-called gas fees and often used to invest in the blockchain’s philosophy, technical edge, or the underlying company it represents.

The blockchain protocol that handles all payments decentralized (without a third party) is called “Ripple”. Currently, Ripple is one of the most popular cryptocurrencies out there and is also one of the first big currencies. The whitepaper was released in 2012, and XRP was initially called “Opencoin”. XRP is a big one, ever since its popularity has risen.

Ripple was made to streamline (international) bank-to-bank transactions and has bin set up with three protocols to do so: xRapid, xCurrent and xVia. If a bank is set up on one of their platforms the banks will buy and sell the same amount of XRP to provide liquidity to the trade. This system also makes sure the transaction takes up to a few seconds max.

How big is Ripple?

So Ripple, or its ticker: “XRP”, is one of the most popular cryptos out there. With a market cap of almost 92B and its rising popularity within the current financial institutions, mainly in Japan, and controversial SEC-news coming from the USA. It is hard to see a future without this currency; hence the trend/rule of thumb where big-tech gets sued right before mass-adoption arises.

There are a little above 99,000,000,00 ADA tokens with about 47B of them in circulation. already has a lot of real-life use cases and its current price, at the time of writing, fluctuates around the $1 mark.

For a business or a country to adopt a blockchain solution, there should be ways to do financial audits. This is built into the system with the peer review functionalities. Combined with its transparency, robustness, and security, Ripple is truly unique.

With normal-looking supply and values, it is easy to read, like fiat-currencies. Opposed to calculating the price of bread in Bitcoin, which might look something like “0.0000016 BTC”.

Where to buy Ripple

It can be bought easily at the more popular centralized exchanges, like binance.com and coinbase.com. Cardano can be bought by using a credit card, a SEPA-transfer, or by using another cryptocurrency like Bitcoin, Ethereum, or Tether USD. On the exchanges you can search for “what you won’t pay”/”what you want to buy”. This is what makes it possible for the exchanges to provide liquidity for a lot of orders in multiple currencies, all at once.

Consensus protocol XRP

Ripple uses neither the Proof-Of-Stake or Proof-Of-Work mechanism. It is built upon Nxt, a system which reaches consensus on the first submitted transactions. Double transactions whom follow will be automatically reverted.

How is Ripple used today

Ripple is already used for making (global-)payments, hosting decentralized apps, and creating & trading NFT’s — non-fungible tokens. Most often this is digital art or an official document. This is because there can only be 1 real owner on the blockchain. Most people however buy XRP because they think the price might go up, and do so by using a popular exchange.

Algorithmic trading bot for Ripple

Becryptive is made to automatically trade Ripple (or ADA) on popular cryptocurrency exchanges. The trades are powered by artificial intelligence and machine learning algorithms, based on a momentum strategy. This will help you invest in crypto without doing all of the research yourself. Your bot is configured through the app and runs on our managed system, 24 hours a day, 7 days per week, and with the 20 biggest currencies.

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