What is Ripple (XRP)
Ripple is the third biggest cryptocurrency after Bitcoin and Ethereum in terms of market capitalization with more than $6.5 billion market share, this does not mean that it is the third most expensive, because one XRP is currently valued at about $0.17. Ripple is a real time gross settlement system, a transfer system between banks that operates in real time and on a gross basis. Gross settlements are transactions settled independently without bundling with other transactions. In simple terms, Ripple offers immediate bank transfers, and is currently used by UBS, Santander and UniCredits. Ripple protocol enables immediate and secure global financial transactions; it is being adopted by other banks and payment networks for its reliability. Of course, Ripple is built on the Blockchain and inherits all its merits by default. It has surged in mid-june of 2017 to reach $0.4, a 3800% increase since early 2017; however, given its significant supply of 100 billion XRP, it is highly unlikely that Ripple’s coin price will exceed $1 in the near future. Ripple Network has been imitated by Stellar Foundation, and their currency Stellar Lumens is the 34th biggest cryptocurrency in market cap, but is not widely tradeable on all exchanges.
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