What Is XRP?
Jed McCaleb, Arthur Britto, and David Schwartz developed the XRP Ledger blockchain, which is where the XRP cryptocurrency works. Ripple was founded by McCaleb and Britto. They used XRP to facilitate transactions on the network. You can buy cryptocurrency as an investment, meaning you can then use XRP as a payment method for transactions or to exchange cryptocurrency.
A special feature of the XRP blockchain is that, unlike many other networks, any user can download the verification software. The basic principle is that people can choose about 35 validators to make sure that the transaction is secure. Every three to five seconds, validators update their ledgers with new transactions and check them against other ledgers. If an error occurs, the discrepancy is quickly eliminated. This is one of the advantages of exchanging cryptocurrency for Ripple because it is fast and safe. This feature can be called an advantage. Often, the processing of transactions of other cryptocurrencies, such as Bitcoin, takes a very long time, which causes discomfort to users. In the case of XRP transfers, this takes a few seconds. Costs are also lower.
What prediction gives The Former Developer Advocate at Ripple?
Matt Hamilton, the former CEO of Ripple gives optimistic predictions for the value of the XRP cryptocurrency. Let’s take a detailed cryptocurrency overview. He said she has a chance to reach $100 one day. Negative comments poured in towards XRP Ledge and even though Matt Hamilton left his cooperation with Ripple due to personal reasons, he actively defends the platform on his social networks. Ripple (XRP) is in the top 10 cryptocurrencies on the market. USA/EN XRP Ledger was one of the first DEX. Asset tokenization is also possible. It has NFT and is currently in the works to enable NFT work. According to him, in terms of XRP value, Ledger remains the best blockchain for payments and transfers. It is decentralized, secure, fast, affordable, scalable, and well tested. XRP has withstood the test of time and has shown itself on the good side.
When will XRP hit $100?
At the time of writing, the value of the coin is $0.3137. In the case of trying to predict prices, predictions can often be wrong because there are so many factors that affect them. The XRP rate changes often and this is largely due to an open court case. If the US court takes the side of the SEC, which says that XRP represents unregistered security, then the price will fall sharply accordingly. Or in general, the exchange of cryptocurrency will become impossible because the coin will be dead. Since this case has been going on for a long time, the value of the coin remains at a low level. Users who buy cryptocurrency for a long time or beginners usually choose more reliable investments to protect themselves from failure. There is also some possibility that XRP will become the new standard for international money transfers, although the chance is slim. There are various predictions regarding the future rate of the coin. There is a chance that it will reach $100, but it is highly likely in the next 5 years, so if you thought about investing be careful. Watch the news of the court case and then draw your conclusions.
Conclusion
Before making any purchases, it is worth doing a cryptocurrency overview, considering all the pros and cons, and only then investing. Buying XRP is a rather risky option, which for sure, even if it brings us income, only in the long term. It is always better to start trading with several coins and on proven platforms for greater security and no risk of losing funds in the event of a sharp market downturn. Never invest your last funds in cryptocurrency. Use various educational platforms, sites, and books to expand your knowledge of cryptocurrency trading.
