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What is XRP (Ripple)?

Last update: January, 2021   Keywords: Ripple, XRP, Cryptocurrency, Blockchain


About XRP

  1. XRP is the native cryptocurrency of the XRP Ledger (XRPL).
  2. XRP is the world’s third-largest cryptocurrency by market capitalization (out of over 4800 currently listed on CoinMarketCap).
  3. XRP can be sent directly from any XRP Ledger address to any other, without needing a gateway or liquidity provider. This helps make XRP a convenient bridge currency (EUR > USD, USD > MXN, etc).
  4. XRP has a unique role in the fintech industry (banks, payment providers) by helping to release capital in their nostro / vostro accounts around the world using ODL - On-Demand Liquidity.
  5. XRP is a deflationary currency because each time you make a transaction - a small portion of the XRP is destroyed (0.00001 XRP).
  6. XRP is a sustainable and efficient digital asset in terms of energy consumption (eco friendly cryptocurrency). Consumption per year: 0.0005 TWh versus BTC 73 TWh.
  7. XRP is extremely fast (4 sec / transacation), cheap ($0.0004 / transaction)

Dario Šuveljak
XRP enthusiast

Twitter: @stedas


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