HesaidShesaidPh | XRP USD: News & History | RipplePay protocol was engineered long before we first heard about the Bitcoin existence. This protocol passed through modification, and in 2012, the XRP crypto appeared. Today Ripple Labs has over 200 large partners successfully using this protocol.
Ripple is a network that allows fast payments to be made worldwide without intermediaries. It is an excellent alternative to modern banks and financial institutions, which often take a long time to process transactions from one point in the world to another and charge high fees for such transfers. XRP is the platform’s token acting as a temporary payment layer between the transferred currencies.
As of mid-September 2022, the XRP USDT pair is traded at $0,3507. XRP is supported by major cryptocurrency services and platforms such as Binance, WhiteBIT and Coinbase.
Key Points about Ripple
Here are some crucial facts:
- It is a blockchain-based network.
- The heart of Ripple is a consensus mechanism; transactions go through a bank-owned verification service.
- Transactions in the Ripple network are executed much faster and cheaper than, for example, transactions via the Bitcoin network.
The current XRP price can be found on the Coinmarketcap service or the major cryptocurrency platforms listed at the beginning of this article.
Where can I buy XRP?
You can buy the XRP on WhiteBIT directly with your bank card. For that purpose, you should register an account and pass KYC. Then link your bank card to your account and deposit fiat money. Then, go to the “Exchange” sector and pick USD to XRP. The calculator will display the XRP price live. If it suits you, click “Trade” to receive your Ripple coins. Similarly, you can convert XRP to USD and withdraw dollars to your card.
In late 2020, the SEC filed a lawsuit against Ripple Labs, asking them to claim the Ripple coin as security. Judicial proceedings have been going on for almost three years, and the parties still cannot reach an agreement. Ripple news background slows the XRP price growth. Because of the trial, the XRP growth was much less noticeable amid the growth of the entire cryptocurrency market. So, there’s no sense in expecting major changes in the price of XRP in the short to medium term. However, if the Ripple lab company wins the lawsuit, the project will face unlimited prospects.
Photo by Kanchanara on Unsplash