Ripple Labs is a company that developed a popular XRP token and a centralised platform for financial payments worldwide. The main idea of the platform is to act as an intermediary between banks and other financial institutions to enable speedy, cheap and efficient transactions. Ripple can become a real competitor to the SWIFT system because it brings many advantages, taking remittance to a new level.
XRP is a Ripple platform token used for transaction payments. As of October 2022, the Ripple price is $0.45.
How Can I Use XRP?
There are several ways to use this token:
- Buy XRP and hold.
- Trade XRP.
- Pay for transactions within the Ripple ecosystem.
The Ripple network is centralised. It has a unique list of nodes that users can choose from to confirm transactions. There are currently about 35 trusted validators. The network selects a validator from the list and creates a validation node. When a new transaction appears, the validator changes its ledger and checks if it matches the other ledgers. If something goes wrong, the network stops and looks for a mismatch. It allows Ripple to validate transactions more efficiently than other blockchains and it makes the Ripple blockchain the best option for financial institutions.
Where can I Buy XRP?
You can buy and trade XRP on the WhiteBIT crypto exchange. It offers up-to-date XRP USDT prices and allows you to deposit fiat money and convert them to digital coins. Registered customers and those who have passed KYC can access all the platform’s tools, including buying cryptocurrencies with fiat currency.
Simple steps on how to buy XRP:
- Register on WhiteBIT.
- Create an account
- Pass KYC
- Link your bank card to your account
- Deposit money to your account
- Place an XRP purchase order in the “Transactions” section.
Ripple Price Prediction
Crypto experts analysed the Ripple graph and concluded that the XRP price did not show any significant fluctuations during the last couple of years. The reason is the judicial process with the SEC, not allowing the project to develop in full. However, the Ripple technology is already applied by over 200 large financial institutions worldwide and operates in 40 countries, so the platform has bright prospects once all the issues with the SEC are settled. Experts say the min Ripple price in 2023 will be around $0.7.