New to Crypto? Make sure you read the things you need to know about the Crypto Market in Canada for 2019. We've put all you need in this updated post!

XRP - Ripple

JohnnypJohnnyp Member
edited January 2018 in Ripple
Has anyone heard about this, XRP? I'm in line at the bank talking crypto currencies and an old guy leans in and says, "RIPPLE", that's the one, Happy New Year and dissappears into an office with a client rep there. I certainly don't want to regret this a few years from now and besides it's $


  • CoinGuyCoinGuy Administrator
    I’ve heard of Ripple, and I was in early when they were give away a whole bunch free. They have made good head way at the banks and Ezbtc, lets you buy Ripple (XRP) if you want.

    Here is a bit why you may be hearing about it now too

    Ripple, which was designed for banks and global money transfers, has seen the value of its XRP digital currency skyrocket in the past three days. On Dec. 10, the company had a market capitalization of just over $9 billion. As of Wednesday morning, that market cap had more than doubled to $18.1 billion.

    Prices for an individual Ripple XRP are considerably more affordable than its alternatives, making it even more attractive to cryptocurrency speculators. As of late Wednesday morning, a single XRP cost just 47 cents, a 66% jump from yesterday’s close, according to CoinMarketCap.

    This surge has pushed Litecoin down to the fifth most valuable cryptocurrency. Both Ripple and Litecoin are still far below Bitcoin and Ethereum, however.

    What is Ripple?

    While it wasn’t released until 2012, Ripple is actually older than Bitcoin. The original version of the company was created in 2004, according to Bitcoin Magazine. It never really went anywhere, though, until it put a professional management team in place, which included E-Loan co-founder Chris Larsen and Jed McCaleb, founder of MtGox.

    Ripple’s cryptocurrency has been adopted by banks and other financial institutions. Those companies believe Ripple’s system offers both better prices and is more secure than other digital currencies, including Bitcoin. It allows users to send, receive, and hold any currency in a decentralized way via the Ripple network. The company is cash-flow positive and holds a vast store of XRP, which it periodically releases into the market.

    But the real appeal of Ripple’s XRP for banks is its liquidity.

    “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 inefficient model. You can use digital assets to fund liquidity, and Ripple is uniquely positioned to capitalize on that. Bitcoin takes four hours to settle a transaction. XRP takes 3.6 seconds,” Ripple CEO Brad Garlinghouse told Fortune earlier this year.

    Why is Ripple surging?

    Ripple’s rise seems to be a (pardon the pun) ripple effect from the surge of interest in Bitcoin. Investors who believe cryptocurrency may be reaching a peak are looking for others that could provide a greater return in the long term. The company has hit some notable milestones in recent months, though.

    As of October, Ripple had licensed its blockchain technology to over 100 banks. Last month, American Express came on board. And Michael Arrington’s $100 million cryptocurrency hedge fund will be valued in Ripple’s XRP.

    How much has Ripple grown in 2017?

    Year to date, Ripple’s XRP has seen its value jump more than 7,000% and its market cap increase by nearly 7,700%.

  • Ripple is one of the safer investments in this space. They recently froze 55 billion xrp effectively moving them from the marketplace. Hence the rapidly rising price.
  • From a pure cryptocurrency point of view, Ripple is the opposite of this revolution because it's actually centralized rather than decentralized. Hence the adoption by banks who of course like control. From the investment point of view, it's probably a safer bet since it has the backing of the big brothers.
  • My problem with Ripple is that you can't seem to get a wallet without some sort of verification.
  • I used "myetherwallet.Com" before I received my nano ledger... Wallets confuse me more than anything but this ledger is amazing !
  • Ripple is the only one up for now.
    Watch Stellar as well

  • testmantestman Member Plus
    Man, I wish I had kept my XRP. :(
    I am he as you are he as you are me, and we are all together. See how they run like pigs from a gun, see how they fly.
  • I am so happy I did listen to the old man!
  • Ripple is one of the safer investments in this space. They recently froze 55 billion xrp effectively moving them from the marketplace. Hence the rapidly rising price.

    Thx for the info.I'm new to crypto.For XRP,buy some and let them cook on the back burner.There's more room to the upside than the opposite.Never bet your ranch though.
  • Stellar (STR or XLM) seems to have more upside if they push for more adoption. Ripple's rise may or may not be sustainable because XRP is not required to use the platform.
Sign In or Register to comment.