XRP is one of the top five biggest cryptocurrencies worldwide. Though XRP has a maximum supply of 100 billion, Ripple itself is still holding almost 61 billion of it. So, the available XRP that is circulating in the market is about 38%. XRP is a cross-border payment protocol that replaces SWIFT with a much faster technology that transfers one currency to Ripple then converts it into Euro (Europe used as a recipient example). XRP will do the transactions for the two countries. What separates Ripple from regular VISA transactions is that it can process the payment within 3.5 seconds, which is way much faster from the 3-5 days average bank transaction can support.
XRP strives to save you from waiting days; they can move your money in just four snaps of your fingers. They visualize of having a global payment method that could transact money as fast as people can gain access to information on the internet. Its performance of fast, reliable, and low-cost payment transactions is promising and has what it takes to scale up in the future.
It can accommodate 1,500 transactions in every second, almost the same as what VISA does. Though VISA is considered to be one of the best and reliable payment methods in the world, Ripple does have a better technology that only takes seconds to send the money to the recipient. The short transaction period of around 4 seconds is something incomparable to other cryptocurrencies. Its transfers fee is almost a half cheaper than SWIFT charges before.
Ripple Video Explanation
Why don’t most crypto traders like XRP?
Ripple is considered to be extremely controversial because it is centralized, though they claim that they are a complement of Bitcoin, which strives to be away from the idea of printed money, government, inflation, debts, and banks, ripple remains to be under a single authority power. The main reasons why most crypto enthusiasts don’t like XRP, but it can’t be denied that its instant and low-cost money transaction has a huge potential to take rise for the upcoming years leaving VISA and American Express behind.
Is it a good investment?
According to the CEO of Ripple- Brad Garlinghouse, it is still way faster to take a bag of money, take a flight to Europe and do the transaction rather than doing it with banks which actually takes 3-5 days. This is one of the main reasons why they come up with Ripple, which is a great payment method that sends money as fast as 4 seconds.