BITSTAMP:XRPUSD   XRP / U.S. Dollar
The first thing to know is that Ripple is both a platform and a currency

The Ripple platform is an open-source protocol that is designed to allow fast and cheap transactions and it has its currency (XRP) but also allows everybody to use the platform to create their own via RippleNet.

What is RippleNet?
RippleNet is a network of institutional payment-providers such as banks and money services businesses that use solutions developed by Ripple to provide a frictionless experience to send money globally.

Moreover, the platform allows you to make payments in any currency including Bitcoin and have a minimal internal transaction commission of $0.00001, yes that’s the right amount of zeros. The only reason it’s not free is to prevent DDoS attacks

Ripple's potential status as security has been a subject of debate for years.

XRP token has a strong connection to the fintech company Ripple, who has long been arguing that the XRP token is merely an open-source technology and that they have no control or influence over its price. They have also gone on record stating that they have not manipulated the price of the token in any way.

In addition to centralization, today it is pretty much a monopoly as Ripple Labs owns 61 percent of the coins.

It is important to note that the American Exchange Commission appears to regard XRP as a security.

So, is XRP security? The answer remains unclear, and will likely remain this way for many more months.

Unlike Bitcoin or Ethereum , Ripple doesn’t have a blockchain. Ripple has its own patented technology: the Ripple Protocol consensus algorithm (RPCA).

What is Ripple used for:
- low commission currency exchange,
- fast international transactions. Average transaction time is 4 seconds,
- payment ecosystem. Users can issue their currency for fast and cheap transaction.

Which banks support Ripple:
- Santander,
- Axis Bank,
- Yes Bank,
- Westpac,
- Union Credit,
- NBAD,
- UBS .
Ripple recently inked a partnership with Dubai-based National Bank of Fujairah (NBF)

Although there is a long list of very respectable banks that are planning to use Ripple, according to the Financial Times most of them are still on the testing stage. The few who transact real money use the platform but not the token. So, perhaps banks “are not that into Ripple”.

Why is Ripple criticized? It can freeze your transactions. The biggest example of this is when Jed McCaleb, founder of Ripple Labs, tried to sell more than a million dollars worth of Ripple. The transaction was reversed. There are rumors that Jed breached the contract, but even though, the very possibility of freezing a transaction is against basic cryptocurrency principles.

Today we add to our portfolio XRP

Best regards EXCAVO

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Comments

"The first thing to know is that Ripple is both a platform and a currency"...WRONG....Ripple is a company and XRP is the native token on the XRPL (L=Ledger).....but when you cut/paste for your article, I can see where you get it wrong.
Testing stage??? Dude you really need to fact check your cut/paste.
People follow your TA, but your giving misinformation. I thought you be better than that....
+3 Reply
Sabibaby Pucksterpete
@Pucksterpete, Did you even read past the first sentence or were you too triggered?
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@Sabibaby, lol...it just gets old people reporting false info. I enjoy his TA though 😉
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@Pucksterpete, great review. very detailed as well.
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It's not decentralized, so IMO it's not really a crypto. It still might be useful for trading. It's definitely seen its share of pump and dump cycles.
+3 Reply
ThumbSkin mljones
@mljones, like u said that's strickly ur opinion. Interesting how people think that because it's not decentralized it automatically means it will fail LOL
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mljones ThumbSkin
@ThumbSkin, I never said it would fail. I said it's not a real crypto. There are lots of things that are not cryptos that have had success. Ripple may or may not be one of those in the future but so far its chart looks like a penny stock. Maybe someday it will be a blue chip, who knows.
+2 Reply
@mljones, it is decentralised, look it up
+1 Reply
mattchimoku Pucksterpete
@Pucksterpete, no its not. its about as centralised as they come, opposed to btc, truly decentralised... truly like no other coin decentralised ;) look that up
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