Among over 20 000 crypto assets offered in the market, Ripple stands out from the crowd. Maybe, Ripple is one of the most controversial crypto assets in the market, for it has many advantages and growth potential while, at the same time, a big drawback. In this article, we will try to figure out if it is worth buying the XRP token and why.
What is Ripple cryptocurrency? XRP Ripple is ranked 7th in the global crypto ranking Coinmarketcap. Its current price is $0.35, with the market cap exceeding $17 billion. XRP was released by the Ripple Labs platform. The company was founded long before the creation of the cryptocurrency market. Ripple used to work on speedy and cheap remittances around the world. Once it released ins XRP token, it started to rival the popular SWIFT system used by banks.
Advantages of Cryptocurrency
Here are some main pros of Ripple:
- it takes 2 – 5 seconds to complete a transaction;
- one transaction costs $0.0002;
- no middlemen.
The Ripple network is used by over 100 financial corporations that integrated the platform into their work processes and now offer speedy and cheap money conversion and delivery to their clients.
Developers also use the Ripple network to build their crypto products. Individuals and businesses use the XRP token to conduct quick money transfers and conversions to any point on the globe without banks’ bureaucracy and intermediaries and at low fees.
Disadvantages of Cryptocurrency
Now about the project’s drawbacks. The matter is that Ripple was sued by the SEC for not being willing to recognise the XRP token as a security asset. The court case has been lasting for a couple of years, and the parties have not come to any agreement yet. The lawsuit slows down Ripple’s development, and of course, it impacts the XRP price that does not grow.
Once the company resolves the lawsuit, it will have great growth potential and will probably reach the moon. However, as long as the case is opened, it is impossible.
On the one hand, it sounds pessimistic, but on the other hand, it allows you to add XRP tokens to your investment portfolio now when their price is so low and hold them until the situation changes for the better. Then you will likely make a fortune, but for that, patience is needed.
If you want to buy XRP, you may use the popular WhiteBIT crypto platform, a reliable and safe service for working with crypto.
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