The crypto market has been conquered by three different coins for a considerable time now. In this sense, Bitcoin (BTC) claims to be the gold. Ethereum (ETH) for its part was proclaimed as the silver of the cryptosphere, which should be enough reasons for us to believe that Ripple’s XRP would be the bronze, as the token is the third largest cryptocurrency of the market after the cryptos mentioned above.
But, is XRP (XRP) really comparable to other cryptos in the market? Well, to give a response to this question we need to see a few details on the third-largest coin. Let’s check them out.
The uniqueness of Ripple
One of the most characteristic features of Ripple’s network is that each transaction that occurs on the system is certified by different nodes, which as a result, gives the distributed network a more resistant mechanism in case of potential risks.
However, what seems to be more shocking about Ripple is the division that the company has made in regards to its solutions, platforms, cryptocurrency and more. Like this XRP represents the virtual coin of the company, RTXP (Ripple payment protocol) represents the technology behind its operations, Ripple network represents the network that channels the technology and protocols, and finally, Ripple represents the company itself.
Furthermore, all investors can hold XRP without any restriction, and the Gateway that the platform uses acts as the credit intermediary between the two parties involved in the transaction.
Nevertheless, despite the outstanding differentiation between Ripple’s XRP and other top cryptos in the market, it just doesn’t seem like the sector is treating the cryptocurrency any differently, which means the value of the coin in spite of being constructed differently is suffering the same.
But, if the situation is the same for XRP, is it possible to believe that XRP would be a great type of investment in the long run? Well, we have reasons to believe this is a fact, and here I explain all the details (as much as I can briefly).
Why invest in XRP?
- Trading price: XRP is currently trading at a price of $0.28, and this represents almost a 90 percent decrease from its all-time high of $3.37. Besides, the crypto serves as a bridge to exchange different cryptocurrencies, and rumors of addition on Coinbase are every time more substantial, so every investor who would like to buy as an asset at a price below the $1 mark should consider XRP as the best option of the market.
- Banks adoption: It Is not a secret to anybody that concerning negotiation and partnerships, Ripple has deployed the most marvelous strategies, which have resulted in the approach of thousands of banking institutions from all across the globe. In fact, studies prove that more than 50 of the largest banks in the world are considering the adoption of Ripple’s XRP as a solution for their payment systems.
- Transactions speed: XRP is the token with the fastest transaction speed in the market, it only takes 3 seconds for the platform to deploy a transfer, and it actually has the capacity of executing 1,500 transactions per second, which compared to the $5 trillion transactions per day that its chief rival SWIFT can make, represents a tremendous advantage.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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