XRP was created as the native token of fintech company Ripple to reduce the cost of transactions in cryptocurrencies and to act as an alternative mode of payment to the universal Society for Worldwide Interbank Financial Telecommunication (SWIFT). It ensures that transactions are completed within 3-5 seconds through its adoption of validators that are made up of Ripple, financial institutions, and universities. The cost of transactions on the Ripple platform using XRP is lower when compared to fees paid in doing transactions on Bitcoin and Ethereum platforms. What is XRP? XRP is the cryptocurrency token that is used on Ripple’s products such as Ripplenet and XRapid. It is open-source and runs on the XRP ledger. XRP is the only cryptocurrency that can be used in carrying out transactions on the XRP ledger, while any other cryptocurrencies can be used on Ripplenet’s platform. Transactions on the XRP ledger (XRPL) are almost instant and cost fractions of the U.S dollar. XRP was launched The XRP ledger is a decentralized public blockchain that is owned by the global developer community. Let’s see the XRP price prediction for the coming years. Price Analysis of XRP token? Flashback: Fundamental Analysis of XRP The recent ban imposed on Russia by the U.S and the European allies that would remove it from operating with SWIFT has increased the price of XRP by over 10% in less than 72 hours since XRP enables users to carry out cross bo...
