Ripple is a special crypto that stands out from other cryptocurrencies. It is a platform for financial transactions and a token (XRP) of the Ripple Network. The platform is open source with a unique blockchain in the core – a distributed database.
All XRP tokens were issued at the moment when the Ripple platform was founded, and they cannot be mined. There are 100 billion XRP tokens totalling.
Since XRP cannot be mined, it is obvious that it does not work on the Proof-of-Work protocol. So transactions do not require many confirmations; thus, the Ripple network proceeds them much faster than other crypto platforms may offer.
The platform proceeds transfers through smart contracts made between participants.
The Ripple developers have built such a platform that can replace SWIFT, for it offers:
- lightning-fast transactions
- low fees regardless of the amount you transfer
- the most practical asset for cross-border payments with no intermediaries.
The current XRP price is $0,3439 (as of late July 2022).
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What Affects The XRP Coin Price?
We should first mention that the project had a complex technological foundation, which is valuable in the crypto industry. Any project that brings any groundbreaking technology and benefit that facilitates financial processes as well as cooperation between companies is highly assessed and definitely receives wide adoption. That’s what happened to RIpple – many large companies now use the platform to facilitate financial transactions.
Another aspect that impacts the Ripple XRP price is that many market “whales” hold XRP as long-term investments, ensuring that the project will boost in the future and the XRP price will skyrocket. It also helps maintain the XRP rate.
Now that the entire crypto market is bearish, we recommend buying XRP at a low price.
XRP Price Prediction 2025
Experts believe that the Ripple platform will have more partnerships and companies using its product in the future, so it allows us to suppose that the Ripple XRP price would only grow in the long term. Experts expect the XRP rate to be between $1,47 and $1,76 by 2025. Others believe that the asset would reach even $3,61.