The Ripple Labs company had worked on the development of the perfect payment system long before the workers heard about cryptocurrencies and blockchain.
The company released its token – XRP, which helps to conduct money transfers worldwide for financial establishments and banks. To date, around 200 enterprises, including BBVA, Chartered Bank, and others, already use Ripple technology.
They say Ripple could replace the SWIFT system, for it brings the following advantages:
- speedy payments to any point of the world;
- low fees;
- safe payments;
- no middlemen.
Transactions in the Ripple network are completed fast due to validators that are working on the Ripple network. They verify and confirm transfers quickly and securely.
In fact, blockchain technology has brought money transfers to an entirely new quality level. Ripple’s token XRP is one of the top assets on all crypto rankings. You can see the Ripple price live on any resource, such as Coinmarketcap, or any large exchange, such as WhiteBIT.
As of late November 2022, the token costs $0.37. Today XRP price is not high compared with other popular crypto assets. What can slow down the development of the project and not allow the token value to increase is Ripple Labs’s legal proceedings with the SEC, which claims the token is security. The court cases have lasted since 2020, and as long as the parties do not agree, the project cannot develop on a full scale.
Where to Buy Crypto?
XRP is still one of the top-traded tokens and many traders use it. Many large investors hold the tokens hoping for a bright and successful future for the project. If you also believe in Ripple, you may buy crypto and hold it. Or you may trade XRP and generate income daily. Feel free to use any large crypto platform, for example, the WhiteBIT trading exchange. It offers low fees and a high level of safety for clients and their funds.
Every year, over $155 trillion worth of cross-border transactions are completed worldwide, so if Ripple develops and gets more partners and clients, it will have a prosperous future. Experts believe the price of Ripple can reach $1,6 by 2025 and around $9 in 2030. So XRP is a good investment option.