Ripple is a crypto currency similar but not quite the same as most other crypto currencies. It was brought about to solve a problem that exists within the cross border/ country financial transaction world.
Ripple is designed for bank and global money transfer.
XRP digital crypto currency is increases from $9 billion to $18billion.
Price for an individual ripple XRP are more affordable than its
alternatives crypto currency speculators.
Ripple crypto currency is adopted by bank and other financial institutions
because they believe that it offer better price and more secure than other
Ripple can send, receive and hold any currency in decentralised way via
the Ripple network.
The company is cash flow positive and holds a vast store XRP.
The real appeal of Ripple XRP for banks is its liquidity.
Why do bank needs XRP?
“ The liquidity needs of banks today is managed with literally ten trillion of float that sits in these nostro and
vostro accounts.We believe very strong this is an in efficient model you can use digital assets to fundliquidity,
and Ripple is uniquely positioned to capitalize on that Bit coin takes four hours to settle a transaction. XRP
takes 3.6 Seconds.”
NOTE: nostro and vostro are accounting terms used to distinguish an account held for another entity from an account another entity holds.
A hard hitting but true statement made by the CEO of Ripple was that is almost faster today to take a bag of cash on a plane to pay someone than it is to pay them via the banking system. The idea behind Ripple was to offer a faster and cheaper alternative to international payment processors such as SWIFT.
A SWIFT transaction can take days and in some cases, weeks. Contrast this with a transaction time of 3 seconds for Ripple. It is now possible to pay someone directly in another country instantly.
What separates Ripple from all other crypto currencies?
Ripple is the only crypto currency out there that is centralised. It means that Ripple could be regulated, abused
and manipulated by the financial systems and governments, just like any other fiat currency on earth.
Total supply cap: 100 Billion
Current coins in circulation: 38 Billion
Ripple holds around 62 Billions
Only Centralised alt coin
Faster and cheaper than SWIFT