Review on XRP by Abraham Jeremiah
Low cost transactions coupled with Speed and easy remittances
An efficient way of making transactions from any part of the world was the core vision set into place for the development of XRP and it truly has achieved that by a high margin as the speed of making transactions and the low cost associated with same is incomparable in the vast world of cryptocurrencies. The cost of making transactions using XRP can be seen to be low while compared to many major coins sitting in the Top-5 on market capitalization as there are many other crypto projects that offers a lower cost if transaction. Although the speed in making transactions on XRP is quite very fast, I can't even place a contender in place for that. Accordingly, XRP works more like a bank in my view as they allow easy remittances of the coin in the US though I wish this gets extended to other countries, it is applaudable to know that something has started in that regards elsewhere.
Being deemed a security by the Securities and Exchange Commission, XRP has been experiencing a significant drop in value, though it has recovered, but has lost its place in the Top-3 cryptocurrencies by market capitalization. I really like the view of he coin in respect to it's speed and low cost, with it's popularity, remittances locally (or easy sale of ones coin to local fiat) is made easy
Pros
- XRP is debuted to be the fastest payment route with easy remittances in the US
- Low cost transactions using XRP is considered one of the lowest in the market
- XRP presence is still visible in the Crypto market despite being delisted on some major exchanges
Cons
- Forks have been created from XRP which shows that XRP is not very interporable to improve
- Being deemed a security, XRP has come under attack from the Securities and Exchange Commission which has sent it's value and market capitalization plummeting to lows last seen during the beginning of the Covid-19 pandemic
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Comments (3)
February 09, 2021
Thank you for your invaluable insight into XRP and the effects it has done than it's good. But all the same, the use of XRP to make easy and fast remittances in the United States is a good lead to why it should be centralised
Both decentralized and Centralised currencies work hand in hand to assist one another
February 09, 2021
And this is the major reason why Decentralized cryptocurrencies beat out the centralized ones. There is no one out there to hold
Even if much is still being done for XRP, it's issues with it's former founder is something that makes XRP a worthless investment to me
February 09, 2021
Most of these companies that deal in cryptocurrencies mostly in the large scale should be made to follow through the course of judicial review so as not to affect their customers. The value that XRP plummeted to has really garnered an effect to the pockets of many small time traders
