Ripple is the platform that provides digital transactions of money based on blockchain technology and using its internal Ripple coin – XRP. As of late September 2022, the Ripple price is $0,38.
The token helps verify currencies’ conversion and speed up cross-border transfers. In fact, Ripple is a payment platform focused on banks and financial establishments and facilitating their business processes. The Ripple network is already used by some large banks in the world.
Why is Ripple better than the traditional banking system:
- It proceeds cross-border transactions much faster than traditional banks can do.
- It charges minimum fees for currency conversion, unlike expensive bank commissions.
The only disadvantage of XRP Ripple is the fact that the project has a judicial process with SEC, demanding Ripple to recognise XRP as a securities.
Crypto experts predict a good future for XRP Ripple if the company solves all the issues with SEC. Until that happens, the Ripple XRP price is not likely to increase much. If we look at the Ripple price chart, we can notice only slight fluctuations and no significant changes. It’s all due to the ongoing judicial process that does not let the project expand and develop. So it is hard to say if short-term investing in Ripple is a good idea. However, the legal process will end one day, and the project will have the chance to grow in the long term. We recommend analyzing the project independently to make a correct decision.
If you are looking for a reliable platform to buy Ripple coin, check out the WhiteBIT exchange. The platform operates in European jurisdiction and complies with all the requirements in this field. WhiteBIT is easy to handle, even for a beginner trader. Experienced investors will find a lot of advanced trading tools on WhiteBIT. Becoming the owner of the internal token WBT, you receive discounts on transactions and access the additional products on WhiteBIT.