Ripple (XRP) Cryptocurrency Review – a real-time financial transaction technology

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Ripple (XRP) – Is It Worth? An In Depth Review

Published: Apr 23, 2020 | Last Updated: Jan 16, 2020

What is Ripple?

Ripple is a real-time gross settlement system (RTGS) and remittance network. Its native asset is called XRP. It functions as a digital currency and in contrast to BTC the total supply is pre-mined.

The sole purpose of XRP is digital value transfer and the use-cases or remittances and inter-bank transfers. XRP relies on independent validator nodes that validate transactions.

Unlike BTC or ETH, they use very few validator nodes to verify transactions. That allows for faster transactions but heavily favors centralization.

XRP can execute 1500 tps (transactions per second) on-chain but doesn’t offer the same security as permissionless blockchains like Bitcoin or Ethereum.


Ryan Fugger, a developer from Vancouver, founded RipplePay. This company was later bought by Jed McCaleb and Chris Larsen.

McCaleb and Chris Larsen then co-founded OpenCoin and developed the project further and created XRP. OpenCoin received capital in a funding round from Andreessen Horowitz, FF Angel IV, Lightspeed Venture Partners, Broad Ventures and Bitcoin Opportunity Fund.

In the year 2020 OpenCoin changed its name to Ripple Labs and in 2020 rebranded to Ripple. Jed McCaleb separated from Ripple in 2020 and went on to build the competing payment network Stellar.

Can it be mined?

No, all of the existing 99,992,362,643 XRP have been pre-mined at the inception of the network.

What differs it from other Cryptocurrencies?

XRP is premined and relies on few validator nodes for transaction validation.

It is solely built to function as a currency, so no smart contracts are implemented.

XRP is very fast; transactions usually settle in

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How much is Ripple worth today?

What is the total and the circulating supply?

The total supply of XRP is 99,992,362,643 and the circulating supply at the time of writing is 39,122,794,968 XRP.

Where can you buy XRP?

You can buy XRP on several cryptocurrency exchanges, most notably Bithump, Binance, Bitfinex, Huobi, Bitstamp, OKEx, and Coinone.

Can XRP be sold for cash?

You can sell XRP for cash on several cryptocurrency exchanges that have fiat-pairings, most notably Bitfinex, Bitstamp, and Kraken.

Future Development

The development of the payment system and the digital asset XRP is mostly finished. But it is continuing to extend their relationships to banks and financial institutions wants to further the adoption of their payment solution. Also, more validator nodes are being installed.

Verdict and Rating

2/10 Many of their partners use Ripple’s products, most notably their Inter-Ledger Protocol (ILP) and Ripple Connect. But, what is often overseen, both solutions also function without XRP.

And if XRP is implemented someday, it doesn’t matter if one unit is worth 1 cent or 100 $.

The functionality remains the same. Another very negative aspect is the fact that the company Ripple owns the majority of existing XRP (55 billion). And their approach is counterintuitive to a decentralized, permissionless blockchain ecosystem.

Ripple is not open to the public, and it is a for-profit company. With their validator nodes, they are one of the most centralized digital currencies existing.


Is Ripple The Cryptocurrency of 2020? – In Depth Review of Ripple XRP

What Is Ripple? / Definition

Ripple is a name for a cryptocurrency denoted by Ripple XRP and it’s also a term for an open-source distributed payment network which is used to transfer currencies. The objective of Ripple network is to get rid of the old financial networks such as credit cards, PayPal and wire transfers which are expensive, time consuming and user-unfriendly, especially for cross-border transactions.

Ripple was initially released in 2020 but the stable release came 6 years later in February 2020. Arthur Britto, David Schwartz and Ryan Fugger are the people behind the early development while Chris Larsen and Jed McCaleb are the co-founders of Ripple protocol that aims to revolutionize the banking system.

Ripple Network (RippleNet) versus Ripple Cryptocurrency (XRP)

Although both the payment network and the virtual currency are named Ripple, they are quite different. Ripple Network or RippleNet is a real time settlement system for banks who can find many applications for it, most popular being currency exchange and settlement of remittances. On the other hand, Ripple currency token or commonly known as XRP is a cryptocurrency issued by Ripple Labs. Unlike other digital currencies such as Bitcoin and Ethereum, Ripple can be transferred extremely quickly at a negligible cost. One of the interesting thing to note is that Ripple currency or XRP is independent of the Ripple Network and it is not required for the network to function.

The Protocol

Ripple protocol works like ripple effect and has its roots in the blockchain technology but it differs in some ways. In other protocols users have the option to mine the currency token but Ripple protocol’s tokens are pre-mined and there are 100 billion of them out which around 40% are in market circulation while rest are in Ripple Labs’ possession. The protocol works through consensus network also known as ripple effect instead of proof of work phenomenon like other cryptocurrencies. The idea behind Ripple is to enable financial institutions to send/receive any type of asset without any delay and at a very low fee. It’s already been in use by some banks including Standard Chartered, Axis Bank, Bank of Tokyo Mitsubishi, Westpac etc.

The Currency

Ripple Price Performance

Unlike other cryptocurrencies that held some monetary value in terms of fiat currency, XRP was virtually worthless up until March 2020. It was only 12 months back when the cryptocurrency started to show some real gains and within 2 months, in May 2020, the digital currency hit the high of $0.41 per XRP only to see a fall of 50% in subsequent months.

To check Ripple’s price performance today click here.

The next bullish tide hit in December when all cryptocurrencies were seeing unprecedented gains and by January 4, XRP price was at all time high of $3.84. But just like other currencies, the price has corrected itself over the period of last few months and Ripple currently is trading at $0.52 per token.

Ripple Versus Ethereum, Bitcoin, Bitcoin Cash, Litecoin and EOS

Ripple – XRP has seen weak trading in last couple of days and has fallen below $0.55. Although the trend seems to be bearish, Ripple XRP is expected to pull back and if the price goes beyond the threshold of $0.57 bar, it will be indicative of the fact that market has rejected lower prices. However, we should first see if bulls are strong enough to take the price above that bar.

Bitcoin – On first April, Bitcoin fell below the mark of $7,000 but the falling price was aggressively countered by bulls who purchased BTC in high amounts which has now somewhat stabilized the price. As opposed to XRP, BTC’s next pullback threshold is at $8,200 which right now looks difficult to achieve.

Ethereum – Ethereum is also in a predicament similar to Bitcoin. It’s stuck in $360-$390 price zone where bulls are struggling to take it beyond the threshold of $400. If they are able to achieve it, that would be a sign of strength.

Litecoin – The silver version of the Bitcoin, Litecoin is being traded in a compact price range for last few days. Despite the bearish trend, the price haven’t gone below the critical value of $107 but bulls haven’t been able to win it out either. Traders will need to keep an eye on the price for next 7 days before buying a long position.

EOS – For the last 3 days, EOS price has hovered in the range of $5 and $6. There is a lot of resistance for the bearish trend and it is expected that the price will soon see a bullish rally taking it beyond $10.

Current Price (USD)

Reddit on Ripple

When it comes to any cryptocurrency, the overall sentiment of web community especially that of Reddit holds utmost importance. How the Reddit community perceives a particular coin can have an effect on the performance of the coin.

In the case of Ripple, the general sentiment of Reddit community seems to be in favor of the cryptocurrency as many believe that the Ripple protocol’s uniqueness when compared to other digital currencies is a big positive. Redditors think that Ripple’s method of working with the existing financial institutions instead of demonizing them is a clever strategy that will pay off big time. Apart from that the community also believes that instead of just having a white paper and a slick website, Ripple actually is in possession of a working product and the company has also partnered with many big names such as Standard Chartered and MoneyGram.

Given the positive sentiment, Redditors seem hopeful that Ripple price will break out of the bearish trend and see a bullish rally in coming months, some being really optimistic predicting the price to be at $5 by the end of June.

How to Buy Ripple

Buying Ripple is just like buying any other altcoin. First you have to get yourself a cryptocurrency wallet where you can store the coin. Cryptocurrency wallet is either a physical device or software where you can safely store your digital currencies.

Then you can buy Ripple through fiat currency or bitcoin/ethereum from the cryptocurrency exchange or forex trading platform of your choosing. Here’s a complete guide on how to buy Ripple .

Supported Ripple Wallets

Ledger Nano S – This is the best hardware wallet on the market which looks like a flash drive and can store all the major cryptocurrencies including your XRP coin. There’s no storage limit and you can simply attach it to the digital device you want and download the XRP code on it. It also has all the basic features that allow you to send and receive Ripple coin. It’ll cost you around $100 but if your cryptocurrency enthusiasm is going to last long, every dollar of the price is worth it. To read the full Ledger Nano S review, click here.

Toast Wallet – It is a desktop Ripple wallet which is available on all popular platforms including iOS, Android, MacOS, Windows and Linux. This digital wallet features security, user-friendliness and no service charges.

Coinpayments – This is actually a cryptocurrency payment website which also allows the traders and users to store currencies in their wallet. The service accepts more than 250 types of altcoins and the transaction fee is quite reasonable at 0.5%. Coinpayments is headquartered in Canada and is one of the most reliable crypto wallets.

Abra Wallet – Abra is a mobile application which is available for iOS and Android users. This app provides multitude of cryptocurrency services including being an exchange as well as a wallet. Abra Ripple wallet supports XRP and you can buy Ripple and store on Abra. However, it should be noted that this is a new name on the market and trustworthiness can be an issue with it.

GateHub – This wallet deals in many popular cryptocurrencies including XRP. You can easily deposit your Ripple coin on this wallet and the service also allows you to buy Ripple by paying through the bank, however, you first need to buy bitcoin. This particular wallet has been endorsed by the Ripple Labs so obviously carries solid reputation and reliability.

Ripple Fraud History

The currency XRP itself or the developers and founders behind the currency haven’t been connected to any illegal or fraudulent activity to date and so there have been no concrete evidence to suggest that any scamming or fraudulent activity is going on behind the scenes.

That being said, when it comes to cryptocurrencies, traders use exchanges, forex websites and software wallets to store their cryptocurrencies. There are many exchanges that are fraud and rob people of their crypto wealth. It’s also possible to lose the cryptocurrency during transaction if you are not cautious enough.

Applications of Ripple

What Ripple actually does is it allows any bank that has deployed Ripple API to send any currency to another bank or financial institution without the need for an intermediary. Ripple Network consists of members who are interconnected to each other through Ripple’s blockchain called xCurrent which is a real-time gross settlement system featuring transparency and speed.

As of yet, there are more than 70 banks and money senders that are using Ripple Network including Standard Chartered, National Australia Bank, Axis Bank, Banco Santander, BBVA, MoneyGram and more.

Future of Ripple

The case of Ripple XRP is a bit different from other cryptocurrencies. While other currencies are totally open-source, decentralized and require proof of work, Ripple is based on an entirely different model which relies on working on the weaknesses of current financial telecommunication instead of sidestepping it and developing another competitor like Bitcoin.

Ripple Labs is funded by trustworthy investors and the company already has a working product which is being expanded. As far as the network is concerned, it’s going great guns but the currency is totally independent of it. It doesn’t matter how Ripple XRP performs, the company itself isn’t going to be affected as it doesn’t force banks and financial institutions to use the token issued by it.

Unlike other digital currencies, Ripple seems to be in a much more predictable position as there is a solution behind it that’s already in use. From all the apparent signs, it looks like the currency is going to do fine and 2020 will be a good year for Ripple price where it might not see exponential growth but will gain stability.

Ripple (XRP)

Ripple (XRP) Review – Crypto Coin Judge

Ripple is a real-time settlement ecosystem that has global scope. This crypto and its network plan to connect different banks worldwide. Having XRP as its ticker symbol, the Ripple coin works closely with different banks. Unlike any consumer-facing product, the Ripple ecosystem may be thought of as a completely back-end infrastructure.

The ecosystem is a global, open-source exchange that can be accessed by anyone, and everyone has an equal right to work with it. However, Ripple, the company, does not manage the network, limit access to it, or control the associated fees. The core value of almost every crypto—such as Bitcoins—is to replace banks, but the Ripple crypto is different as it works with the banks. For this reason, this crypto has received a serious backlash from the crypto world. Now, it is time to review XRP coins and the distributed open payment network known as Ripple.

Ripple history

First deployed in 2004, Ripple was initially developed by Ryan Fugger in Canada. Around 2005, Fugger began building Ripplepay—a financial service providing a secure payment option to the members of a specific online community. Fleshing out the concept of this protocol, programmers developed a fresh digital currency system in May 2020 with XRP—the network’s very own cryptocoin.

In 2020, the idea to develop a complete Ripple system was taken a step further by Jed McCaleb. The coin was basically programmed and implemented to:

1 – Eliminate Bitcoins’ reliance on a number of centralized exchanges.

2 – Use less electricity than what is consumed by Bitcoins.

3 – Perform different transactions more quickly than any Bitcoin-related transaction.

Finally, in 2020, the Ripple protocol was launched with the chief goal of ensuring instant, secure, and nearly free global money operations without any chargebacks. According to the protocol, the payments can involve any cryptocurrency, goods, fiat currency, or any other unit such as mobile minutes or passenger bonus miles.

The Ripple network’s lead cryptographer, David Schwartz, stated that the payment systems of today are very similar to the email service providers of the early 80s. Back in the day, every email provider built its own ecosystem for its customers; having siloed ecosystems made the interaction with those using other email clients very difficult. Similarly, cross-border bank transactions have become complex because financial institutions rely on different operational and business models. Ripple therefore aimed to connect different multiple payment systems together.

Ripple analysis

What is Ripple all about?

Put simply, Ripple is a real-time, distributed payment protocol that is meant for everything with value. This ecosystem is a shared public database with a built-in distributed currency exchange operating as the world’s first-ever universal translator for money.

Ripple is a fully fledged platform that includes a foreign exchange component, which is present at the core of the payment protocol. Ripple may be a pathfinding algorithm for discovering the most profitable route for a dollar to be converted into airline miles or a euro to become a Bitcoin. This ecosystem analyzes every single order present in the global order book for providing the best routes.

Furthermore, the most exciting part of this open-source payment network is that anyone can simply bid-ask on any single thing of value. Ripple’s existing protocol is programmed to give the simplest and cheapest transaction route available.

The network has easily managed to deliver on most of its promises and has done so by associating with many successful names in Silicon Valley. In addition, the network has even partnered with a number of international banking institutions, leaders, and regulators in the world of technology. Some of the top names that have incorporated the Ripple system include MIT and Google.

Ripple’s innovation

Trust matters

The transactions in this open-source payment network are always confirmed by the consensus of network participants, which is very different and less cumbersome than the mining work done in the Bitcoin network. With BTC mining, the transactions can be processed by only those who can afford costly computing power.

However, Ripple is different and that is why it has successfully won the trust of many payment networks and banks. For example, the Ripple protocol has been used by the powerful Earthport service payment system, which works in close to 65 countries and includes the HSBC Bank and the Bank of America.

Unpanelled security

The ecosystem is powered by a set of foolproof mathematical algorithms that are obeyed by XRP. These rules can never be changed. The stability of the platform’s rules makes it very secure and reliable. As no organization or person controls XRP coins, they cannot be falsified, duplicated, or created. Payments with these coins happen between peers, making it more direct. Furthermore, this cryptocurrency is simple to use, as it does not need any institution, intermediary or third-party company.

XRP coins play a critical role in managing the security of the entire system. Every single XRP transaction destroys a bit of the coin in the form of commissions. The XRP’s security cost is nothing for everyday Ripple users; even if the users are high-volume ones, they will just lose few pennies. Nevertheless, the abusive users attempting to spam the network with a lot of transactions will soon run out of the XRP coins and will be forced to stop.

Unbiased validators

To distribute the level of control that the network’s founding company exerts over it, a set of validators is put in place. These validators are there to make sure the ecosystem runs smoothly even if the company fails. These validators are unique nodes that may be individuals or organizations verifying the transactions that are performed in the open-source payment network.

That is, these validators act as a semi-centralized agency and assure the users that none of the transactions are double spent. The current validators present in the XRP protocol include:

  • CGI (Canadian Global Information)
  • MIT (Massachusetts Institute of Technology)
  • Microsoft

Mining XRP coins

Unlike Bitcoins and many other altcoins, XRP coins are not minable. When it comes to mining different cryptocurrencies such as DASH Siacoin STEEM, Komodo, Litecoins will need software or GPUs or specialized mining equipment. However, with XRP coins, it is a different situation.

Unlike most of the altcoins present in the market, the Ripple coins are already pre-mined. That is why these coins are not as widely condemned by financial institutions as Bitcoins and other altcoins. There is no Ripple mining device present in the market. These cryptocoins can only be purchased from an exchange but cannot be mined.

Ripple wallets

These days, crypto investors are spoiled for choice as they can pick from a range of wallets—and nearly everyone offers unmatched security. In reality, the security of these wallets completely relies on where the investors store their crypto wallet’s private keys.

1 – When a wallet is created, a private key is also generated.

2 – This key is used for accessing the funds or coins present in the wallet.

3 – It is always recommended to only use wallets that allow investors to own the private key.

4 – For instance, when the investors will store the crypto coin on an exchange present on the internet, the keys are stored on its live servers.

5 – In this case, if the server is hacked, investors may end up losing their funds.

So first-time investors should only rely on wallets that let the speculators own the private key.

One more thing: Ripple wallets will not be available for free. Unlike a Bitcoin wallet, which allows the investors to use it even if they have zero satoshi, a Ripple wallet will need the investor to store at least 20 XRP coins to get its address.

If an investor has 100 XRP coins in the wallet, she/he will need at least 20 XRPs to book the address. This condition makes the investors own only a single wallet address instead of having a number of addresses. In the end, crypto speculators need to make sure that they select only the wallet that best fulfills their requirements, because a bad decision in this regard will cost an investor 20 valuable XRP coins.

Here are the top Ripple wallets for investors to pick from.

Wallet Type

Ledger Nano S Hardware Wallet

CoinPayments Payment System

Rippex Desktop Wallet

Buying XRP coins

The market for digital coins like bitcoin, Ethereum, Tether, Veritaseum is heating up at a steady pace. More and more cryptocoins continue to be developed and are entering the market claiming to be faster and better for payment settlements. Worldwide interest in the crypto space has surged and boosted the collective market cap from a mere USD93.3 billion in August year 2020 to a whopping USD600 billion in a matter of just three and a half months—that is a growth of 543%!

In spite of the rise of new digital assets, Ripple coins remain the most scalable in the crypto market. The market is taking note of this coin’s reliability, scalability, and speed—and this has sincerely strengthened the demand for this crypto wherever it is listed.

However, when it comes to getting these coins, the investors cannot mine them. Instead, these coins can be purchased from a number of exchanges worldwide. Some of the popular exchanges where XRP coins can be bought are as follows.

  • Kraken
  • Bitstamp
  • CoinOne
  • Bitso
  • Korbit
  • Coincheck
  • Qryptos
  • Bitbank
  • Bitcoin Co. Ltd.
  • LiteBit
  • BTC Markets
  • Bitsane
  • Gatehub
  • IO
  • GMOCoin
  • pro

With so many exchanges to pick from, the digital currency’s value is set to climb in the future. This XRP coin is listed on 50 exchanges, which means that the Ripple platform will develop its own Internet of Value in the near future. In short, this cryptocurrency and its open-source payment network will make the flow of money as smooth as the flow of information.

XRP versus BTC

Here is the low-down on why XRP is the next big thing in the crypto world when it is compared with BTC:

1 – XRP coins have various advantages over BTC coins as they have been built for a variety of purposes in mind whereas Bitcoins are a digital currency built over the blockchain technology.

2 – Fast and cheap: The XRP’s transactions can be processed in just four seconds as they are fewer in number when compared with Bitcoins. This, however, has the additional bonus of economical transaction fees. However, the price of BTC transactions has been on the rise lately.

3 – Mining and non-mining: Every one of the 100 billion Ripple coins are already pre-mined, so mining is not at all possible in this case. However, to avoid flooding or inflation, a few coins are released in the market every month. This crypto is quite unlike Bitcoins and other traditional digital currencies that can be mined.

4 – Bank acceptance: This open-source payment ecosystem and its currency are becoming accepted by many banks worldwide. This acceptance has, in a way, given the much-needed legitimacy to Ripple cryptocoins. From an investor’s viewpoint, this development can be quite assuring. However, the same investor assurance or legitimacy is nowhere to be found with Bitcoins or any other run-of-the-mill cryptocurrencies for that matter.

Ripple’s future

1 – Ripple’s future success is tied to the total number of people using the network, and how effective the XRP coins really are. Also, it is important to note that the total supply of the XRP coins is 100 billion, so the investors can expect a bit of price modulation in the time to come.

2 – Traditionally, the payments inside the emerging markets need different currency traders and even pre-funded local currency accounts within the destination. This means a lot of dormant, trapped capital is present.

3 – Banks and other payment providers can rely on XRP coins for funding these payments every time without any intermediary. This process will surely be available at a cost that will be less than half of the existing costs incurred in transferring currencies.

4 – However, the crypto territory is uncharted for payment providers and banks, which is why it will take some time before witnessing a broad adoption of crypto in the banking landscape. Nevertheless, once the adoption is done on a large scale, the entire payment sector will solve trillions of dollars.

The team behind Ripple

OpenCoin, the company behind the Ripple protocol, was cofounded by Jed McCaleb (CTO) and Chris Larsen (CEO). McCaleb has a rich experience in digital currency and had worked in Mt. Gox—the same company handling a large share of the global Bitcoin trades. Larsen previously co-founded E-LOAN—a credible online financial company. All the other developers working on the Ripple network have rich experience in Bitcoin and cryptography.

Note: OpenCoin is not related to, which is developing an electronic cash system and is not related to cryptocurrency.

Summarizing Ripple

The use of XRP coins will be done within Ripple to make the open-source payment ecosystem more robust. As the XRP coins will be used more frequently within this payment network, their liquidity will rise with time. Plus, this crypto project is one of the few legitimate viable competitors of traditional financial systems because it can play a key role in managing the way money moves around. When this open-source crypto project is viewed from the standpoint of the global payment industry, its prospects are promising.

What do you think about this crypto coin’s prospects? Do share this feature and your thoughts about this burgeoning cryptocurrency with other crypto enthusiasts.

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