XRP is a native cryptocurrency of the Ripple platform, aimed at facilitating and speeding the money-transfer processes worldwide.
Traditional banking services allow sending money abroad, which usually takes many days, and the fees are high. Banks’ remittances always imply many intermediaries, which is why they are so costly.
Ripple brings remittances to a completely new level by offering:
- speedy transfers to any point on the globe;
- cheap transactions;
- no middlemen.
Having all these qualities, Ripple’s chances to surpass traditional bank systems such as Swift are increasing, and it can happen in the near future if Ripple settles one important issue. The problem is juridical proceedings with the SEC, demanding the Ripple company to confess the XRP token as a security. These legal issues do not let the Ripple platform develop normally and that is the reason why the Ripple price is not growing much.
Here are some differences between these two popular cryptos:
- The Bitcoin blockchain allows to send BTC, while Ripple enables any fiat and crypto assets transfers worldwide.
- BTC price depends on its emission and mining. Ripple XRP Price does not depend on emission since all the tokens were issued on launch day.
- Transactions on the Ripple network occur in a matter of seconds, while Bitcoin performs much slower.
You can always check out the Ripple price today by looking at how much the XRP USDT pair is currently traded. You can do it on any large crypto exchange, for example, WhiteBIT. You can also check out resources like this 3Commas bot review which will give you more info on how to make money.
Experts predict that the Ripple XRP price can reach $1.36 in 2025, of course, if all the issues with the SEC are closed, and the Ripple project can develop normally. However, despite all its difficulties, Ripple technology is already used by over 200 financial institutions worldwide. It makes us think it is a really good investment option.