Ripple (XRP) is one of the most popular cryptocurrencies at the moment and was once the second largest cryptocurrency in terms of market cap. In fact, the battle between Ripple and Ethereum for the second place has always been close. Ripple’s co-founder, Chris Larsen, is the eight wealthiest man on earth holding an equivalent of about $55 billion as Ripple’s market cap.
If you are asking yourself how did this happen and what’s Ripple, it is basically a token that has been in circulation since 2012. During that time, Ripple was not that popular and grew in terms of popularity in 2018, after some big companies announced that they will implement the technology behind the coin.
In a nutshell, Ripple is a platform that is trying to revolutionize payment systems. More importantly, Ripple is trying to break out from the ‘too slow, limited in transparency and expensive’ banking system that is according to them inadequate for such times. The idea is to reduce the barriers of entry and allow global payment to become a truly worldwide activity.
Ripple (XRP) is a cryptocurrency that allows you to make incredibly easy transfers for all currencies to anywhere in the world. The platform is built in a way that transactions like these take only a few seconds. This is why banks across the world adopt ( or will in the near future) Ripple as an efficient and inexpensive way to make transactions.
It sits in the top three at the third position and is currently implementing its technology in many banks and financial institutions. Speaking of, XRP’s enterprise software is currently being processed in about 60 banks around the world with some of them being Royal Bank of Canada and Bank of England. This contributes to the company’s drive to become a better and bigger cryptocurrency on the market.