Review on XRP by Stephen Toluwani
A Centralized coin with issues facing a longer term basis
XRP is in the most likely term, the most oldest cryptocurrency to ever exist, long before even Bitcoin existed before it's project was abandoned and later picked up by it's current company; Ripple. XRP has been one of my most preferential method of making transactions especially from exchanges due to low costs of making this transactions. The speed of receiving XRP is also another feature that one will always like when it comes to XRP. Many people usually use XRP for making transborder transactions due to its supposed low cost and speed. It's availability on many major exchanges makes it viable for use in virtually anywhere. Holding XRP, I have witnessed good price action on the coin, the coin was ranked Third in market rankings but since after the SEC allegations set up against Ripple, the price has since come crashing down with a lot of exchanges delisting the coin from off their list. This was a very tragic moment for investors and traders alike. Being a coin that held value for making Cross-border transactions, XRP lost its value but has steadily began to rise again. One thing many crypto users will agree upon for not being with XRP is it's Centralized nature. With XRP being heavily Centralized, it's price can be hugely controlled by it's issuing company Ripple. With regular sending of XRP to one of the former lead creators of XRP, who continuously dumps some of the coin after receiving, many are really skeptical about how XRP will be in a long term. But it is still standing strong with many cryptocurrency users making use of what XRP has to offer. It's a recommended coin for faster and less costlier transactions anywhere.
Pros
- XRP Has one of the most fastest speed in making transactions on the blockchain today
- Many crypto exchanges support the trading of the coin making it versatile for use
- XRP is one of the most preferential method of making Cross-border transactions especially due to its low fees
Cons
- XRP is a very Centralized cryptocurrency
- SEC lawsuit against Ripple, XRP issuing company sent the value of the coin crashing down sending investors funds along with it
