XRP is a digital currency that runs on digital asset and payment processing software, RippleNet. Unlike many other cryptocurrencies, XRP is not built on a blockchain but on top of the XRP Ledger distributed ledger database. Another difference is that Ripple is owned by private investors and is not originally a decentralized project. RippleNet is a division of Ripple.
The RippleNet payment platform is a real-time gross settlement system (RTGS) that aims to guarantee instant monetary transactions worldwide.
Although XRP is considered a native XRP Ledger cryptocurrency, the platform can be used for transactions of any currency, both fiat and cryptocurrency.
The history of the project's creation is as follows. In 2004, Ryan Fugger proposed creating the project as a payment platform for interbank transfers. In 2012, Jed McCaleb and Chris Larson, working on the OpenCoin project, began to design and develop the Ripple project.
KEY FEATURES OF XRP
XRP was created by Ripple as a fast, lower-cost, highly scalable alternative to then-existing cash payment platforms and many digital assets. XRP can be considered a direct competitor to the international SWIFT system.
RippleNet's distributed registry is maintained by XRP's global community, which keeps the cryptocurrency running smoothly. Ripple plays an important role in this process, being the validator. Interestingly, major financial institutions and universities are among the validators of XRP. In theory, anyone can become a validator for the project.
The XRP Ledger processes transactions about once every 3-5 seconds, or whenever independent validator nodes come to a consensus on the order and validity of XRP transactions.
XRP is generally bought as a relatively stable asset in the cryptocurrency world. The coin has a good infrastructure for use, trading and storage.
ripple to USD Forecast
Looking into the future and trying to predict the course with a minimum of data is not a good thing, especially when it comes to crypto quotes.
The XRP / USD rate will definitely not stand We have a chart of changes in the value and price of ripple / USD тonly for today, Price today 23 May 2022.
These data are not enough, besides there are many factors that do not yet allow making realistic long-term forecasts.