If you’re not yet familiar with Ripple, now’s the time to pay attention. Though still under the radar for many, the third most popular cryptocurrency—after Bitcoin and Ethereum—has huge potential. Over 40 international banks including Royal Bank of Canada, Bank of America and Standard Chartered have already adopted its usage for global settlements. Industry buzz even indicates that Ripple could have the potential to revolutionize the financial services sector. Currently trading at $0.186, it’s still early days for uptake of the digital currency. But with such stellar recommendations how long might that last?
If you haven’t heard of Ripple (XRP) already, now is a good time to get to know the digital currency. Though still low key, Ripple has huge potential and could soon rival Bitcoin.
So what exactly is Ripple?
Ripple uses blockchain and distributed ledger technology. It is a global settlement network. In order to make a settlement, a fee must be paid in XRP and these are what trade on cryptocurrency markets.
Ripple aims to provide a “frictionless experience” to send money globally using the power of blockchain. Ripple has also been adopted by a number of banks including Spain's BBVA (MC:BBVA), Royal Bank Of Canada (NYSE:RY), Bank of America (NYSE:BAC) and Standard Chartered (LON:STAN). Indeed, buzz about Ripple indicates it could have the potential to revolutionize the financial services sector.
Currently Ripple is considered to be the third most popular cryptocurrency after Bitcoin and Ethereum. At the time of writing, XRP was trading at $0.186. The currency has a market cap of almost $9 billion, after starting the year with a valuation around $250 million.
Ripple: considered exciting and solid
Jeremy Epstein advisor to OpenBazaar, IOTA and ZcashRipple explains he has been a fan of XRP ever since he read the Ripple whitepaper fifteen months ago.
Source: investing.com
