The cryptocurrency industry has stabilized after two months, and Ripple is showcasing it perfectly. The cryptocurrency grew by 180% since July end and recently hit …
XRP started at a meager price, and it had almost reached $4 per coin in the past. At the end of the year 2017, when the cryptocurrency market crashed, the XRP coin price also dropped to $0.53. Even after experiencing such a crash, the coin is still functional and gaining popularity among the investors.
Currently, the coin is trading around $0.177. According to the market analysis, the currency will trade moderately in 2020. As XRP has implemented many roadmap milestones, in 2021, it is going to escalate to a new height.
Ripple focuses on a cross border payment solution. It has its offices in Sydney, Singapore, New York, Luxembourg, and London. To understand how Ripple functions, there are three main terms that we should understand:
- XRP XRP is the native currency of Ripple that facilitates transactions on the Ripple network. It works as a bridge between two currencies and also offers liquidity as and when necessary. XRP is a native asset of the XRP ledger which runs on the network of peer to peer servers.
Ripple is a company that develops the payment protocol and network. It was initially known as OpenCoin.
This is Ripple’s network of payment providers worldwide. It connects different payment networks of payment providers, digital asset exchanges, and corporate entities, which can accept both fiat and cryptocurrencies. Ripple’s global network allows the payments anywhere in the world instantly, cost-effectively, and reliably.