What Is Ripple Cryptocurrency?
Work on the launch of Ripple payment protocol began long before the advent of blockchain and the first cryptocurrency Bitcoin. In 2004, a Canadian programmer Ryan Fugger started developing an interbank transfer system called Ripple, and released the first version a year later.
What Is XRP Coin?
Ripple’s coin is called XRP. Unlike many cryptocurrencies, XRP has a legal entity, official developers, representative offices and headquarters in South Carolina, USA. This is a big plus for investors in terms of a safe investment.
Initially, Ripple was a peer-to-peer P2P network for settlements on the Internet.
Funds in the system were transferred along chains of mutual trust. In 2012, along with the development of the Ripple Transaction Protocol, the technology received a second life. Thanks to the new protocol, users of the system were able to instantly exchange currencies, both fiat and digital.
How To Mine Ripple?
Having abandoned the idea of mining, the creators of Ripple released 100 billion coins. Each XRP coin is subdivided into 1 million parts, which are called “drops”. Pre-issued tokens free the network from consuming huge amounts of energy to issue new coins. Moreover, with such energy efficiency, XRP blockchain is capable of processing transactions in a matter of seconds. The high speed of the blockchain allows for cheaper transactions, which makes Ripple not only fast, but also a profitable payment instrument.
There is no mining in the Ripple network in the traditional sense, when users find new blocks and attach them to the blockchain, receiving a reward in the form of crypto coins for this.
Instead, Ripple offers a specific variant of mining: using the computing power of their computers, miners perform calculations and other actions prescribed by the system and are rewarded for this.
The general scheme of work of Ripple XRP can be compared with the global payment system SWIFT, only instead of a central processor, a decentralized distributed network works, providing a higher level of reliability and protection of user data.
Features Of Ripple
Among other features of the Ripple network, the following ones are noteworthy:
- Initially, 100 billion XRP coins were issued and the creation of new ones is not provided for by the system.
- Transactions within the network are recorded programmatically, the entire history of operations is saved.
- Coins cannot be mined, they can only be bought on exchanges or exchangers.
- After each transaction, the number of coins in the network decreases, which leads to a natural increase in their value.
Is XRP A Good Investment?
It is important to understand the difference between Ripple and XRP. People are used to associating cryptocurrency and a project, since almost all crypto systems are inextricably linked to their tokens. But in this case it works differently. Ripple has three separate operating systems — xCurrent, xRapid and xVia. Now XRP tokens are used only in the second system, and all major Ripple partner banks work on xCurrent, which does not imply the use of XRP.
Thus, the development of Ripple should not necessarily lead to an increase in the value of XRP tokens. However, in the future it is planned that all banks with which already cooperate with Ripple, will switch to xRapid technology. In this case, XRP tokens will indeed gain wider application and go up in price.
How High Can XRP Go?
On April 6, 2021, the value of the XRP token renewed its three-year high, breaking the $1 mark. Capitalization of the asset reached $45 billion.
However, many experts believe that the fate of XRP remains uncertain. At the same time, some experts do not exclude that in the future XRP will be able to oust Ethereum from second place in terms of market capitalization.
Realistic XRP Price Prediction 2025
As per the recent research by Moody’s, the experts believe that Ripple will enter into numerous partnerships with financial institutions, and by the end of 2021, XRP might touch the $2 mark. By 2023, XRP might reach somewhere around $3. According to Coin Switch, the price of one XRP might be around $4.52 in 2025.
Where Can You Buy XRP Cryptocurrency?
To buy XRP coin, know what is the current price of XRP, XRP price prediction, and read about the future of XRP, use StealthEX. It provides fast transactions and allows users to choose from more than 350 digital tokens.
How To Buy XRP Coin?
You can study a detailed article with an exchange guide on our YouTube channel or just go to StealthEX and follow these easy steps. Let’s imagine you want to exchange Ethereum to XRP. To make an exchange, you need to take a few simple steps:
First, you should choose Ethereum in the left drop-down list. Then choose XRP coin in the right list of coins.
After setting the pair it is necessary to enter the amount of ETH you want to exchange.
Here you will see the estimated amount of XRP coin that you will receive after the exchange.
Now when everything is set for the exchange, press the START EXCHANGE button and you will be taken to the next page.
As the second step, you need to provide the XRP coin recipient address. The recipient address must match the cryptocurrency you are going to receive. Remember to double-check the information you enter prior to the exchange as the transaction you make cannot be canceled.
As soon as you have carefully checked all the details, you can press the NEXT button and you will be redirected to the CONFIRMATION page with the information about the exchange.
Pressing the NEXT button you will be redirected to the EXCHANGE page.
At first, you will see the address where you need to send your ETH coin to continue the exchange. StealthEX will also provide you with the exchange ID. It will allow you to keep all the information about the swap. It is recommended to save your exchange ID or the link to your exchange.
After sending Ethereum to the shown address, the information on the EXCHANGE page will be renewed automatically. The EXCHANGE page has several statuses that will change during the time of the exchange.
- The first status is Awaiting deposit.
- The following status is Confirming. This means that StealthEX is confirming the transaction you made.
- The next status is Exchanging. During this time the exchange is being made.
- Then the status will be changed to Sending to your wallet. This indicates that there are just a few minutes left until you will receive your XRP coin.
Finally, you will be redirected to the FINISH page. This shows that the exchange has been successfully made and you will receive XRP crypto to the address provided. To be sure that XRP token was sent to your wallet you can also use the Output hash shown on this page and check it in the XRP blockchain list of transactions.
From here you can either create a new exchange on StealthEX.io or leave the page and check your XRP wallet to be surprised at how fast you got XRP coin. Usually, the process is quite rapid so you won’t need to wait long.
If you have remaining questions about the StealthEX exchange service you can go to our FAQ section and find all the necessary information there.
We are always ready to give you support if you have any issues with exchanging coins. Our team does our best to protect all members and answer their questions. For all requests message us via firstname.lastname@example.org
You are more than welcome to visit StealthEX exchange and see how fast and convenient it is.
Originally published at https://stealthex.io on April 13, 2021.