What Is XRP?
To begin with, it’s important to understand the difference between XRP, Ripple and RippleNet. XRP is the currency that runs on a digital payment platform called RippleNet, which is on top of a distributed ledger database called XRP Ledger. While RippleNet is run by a company called Ripple, the XRP Ledger is open-source and is not based on blockchain, but rather the previously mentioned distributed ledger database.
To learn more about this project, check out our deep dive of XRP.
The RippleNet payment platform is a real-time gross settlement (RTGS) system that aims to enable instant monetary transactions globally. While XRP is the cryptocurrency native to the XRP Ledger, you can actually use any currency to transact on the platform.
While the idea behind the Ripple payment platform was first voiced in 2004 by Ryan Fugger, it wasn’t until Jed McCaleb and Chris Larson took over the project in 2012 that Ripple began to be built (at the time, it was also called OpenCoin).
How Does XRP Work?
XRP was created by Ripple to be a speedy, less costly and more scalable alternative to both other digital assets and existing monetary payment platforms like SWIFT.
RippleNet’s ledger is maintained by the global XRP Community, with Ripple the company as an active member. The XRP Ledger processes transactions roughly every 3-5 seconds, or whenever independent validator nodes come to a consensus on both the order and validity of XRP transactions — as opposed to proof-of-work mining like Bitcoin (BTC). Anyone can be a Ripple validator, and the list is currently made up of Ripple along with universities, financial institutions and others.
How Do You Buy XRP?
You can buy XRP on any exchange that offers the digital currency. For the latest list of exchanges and trading pairs for this cryptocurrency, click on our market pairs tab. Remember to do your own research before choosing an exchange!
How Do You Store XRP?
You can either store your XRP on an exchange, where the exchange is responsible for the safety of your asset, or store your XRP in a cold or hot wallet.
xrp price prediction 2030
Brad Garlinghouse, Ripple's CEO, has big future predictions for Ripple, forecasting that it may become the Amazon of the crypto industry by 2025. Garlington is playing a safe long-term game. This month, in a recent interview with Brad, he was asked what his expectations for Ripple were for the next couple of years. He was quite optimistic and said, "The road map for Ripple remains the same, with wider adoption and increased positive sentiment of people towards cryptocurrencies in general, the future seems bright for XRP".
In a 2018 interview, he reminded listeners that anyone investing in XRP, as opposed to trading it, should consider thinking in months and years, not days.
Garlinghouse also stressed the importance of cooperating with governments and banks, as opposed to the freebooter, regulation-dodging spirit of Bitcoin. And he might be onto something. Ripple has previously thrived during bear market periods when other blockchain projects plummeted.