What is XRP?
XRP is the native digital asset of the XRP Ledger (XRPL). The XRPL allows XRP to be transacted in 3-5 seconds with extremely lows fees of usually less than a penny. Ripple, a blockchain payments and infrastructure firm, is one of the primary corporations facilitating the use of XRP in products such as On-Demand Liquidity (ODL) and Line of Credit. XRP is primarily used by institutions and individuals as a bridge asset between two sovereign nations’ fiat currency to eliminate the need for prefunding, reduce costs, and increase transaction speed. The exchange of two fiat currencies is considered a cross-border remittance, which is a growing market as globalization expands across the world.
XRP is a globally traded cryptocurrency that is listed on 100s of exchanges with billions (USD) of volume aggregated across these exchanges. It has also received non-security status from multiple regulatory bodies including Japan’s Financial Services Agency and the United Kingdom Financial Conduct Authority. Aside from Ripple, XRP is being utilized by SBI Holdings, Sologenic, and many others. At XRP’s peak during the 2017-2018 crypto bull market, XRP reached a price of $3.84 on some exchanges, but has since been beaten down by the presiding bear market and United States regulatory cases.
Ripple – XRP Market Report for Q4 2020
XRP Ecosystem
Ripple | XRP Website
Nasdaq | XRP Metrics
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