Review on XRP by David Olayide
A Review of Ripple's XRP
XRP Ripple is a well known cryptocurrency and also a payment system network used worldwide by hundreds of thousands of people. For me, hearing the word XRP also means fast transactions and no delays or exorbitant fees. The project was released in 2012, and is built upon a distributed and open source protocol. As a payments system network, Ripple promises a fast and efficient system of funds transfer. I particularly love the fact that I can make my crypto transactions very fast without any hindrance and also reduce the cost and amount of transaction fees and charges that the network might incur.
XRP is available on many of the cryptocurrency exchange platforms frequented by traders and investors alike. Averagely the amount of time it takes to confirm a transaction with XRP is about 3 to 5 seconds and this is much faster than most other networks. If you asked me I’ll probably say that the ripple network and its native token XRP, is a good cryptocurrency and payment system that should be adopted worldwide.
The price of XRP is relatively low and is not as profitable as I expected it to be. Some years ago, Ripple was involved in a lawsuit filed by SEC and the outcome of the litigation invariably led to a drop in the price of XRP. I looked at some price predictions for the coin recently and it is expected to maintain a stable but low price for the next few years. Of course, I can’t really say how much the price will change, neither do I know whether it will be positive or negative.
What I do know however, is that XRP remains a valid and trusted payment system with fast transaction times, and low charges and fees. It is a good system and I encourage all fellow traders to use it.
Pros
- Fast transaction time
- Low transaction fees
- The project is popular and used by a lot of people
- XRP can be found on well uses exchange platforms
Cons
- Some issues with the SEC in 2018, negatively affected the price in the global market
- The project is basically centralized
