The XRP price is way higher than it was at the start of the montheven thriving amid yesterday’s 20 percent crypto market drop-off. Ripple now has over 75 commercially deploying customers and over 100 currently on their roster. But more than just establishing a customer base, Ripple has used strategic partnerships to generate buzz. For instance, the recently announced partnership with American Express which was many Americans’ first encounter with Ripple and immediately situated the brand as a reliable financial service, rather than a weird or intimidated new technology. Ripple isn’t created, or “mined,” by users. The company has control. It created 100 billion ripple coins initially, and 38 billion of them are in circulation at the moment. Ripple management can release up to 1 billion coins per month, which experts predict could oversaturate the market. With the Cryptocurrency gaining more popularity attracted even more in investors. Here are top 5 reasons why Ripple’s value is going higher than ever.
One of the key things to remember is Ripple isn’t created, or “mined,” by users. The company has control. If a sending address has one or more transactions queued, that sender can “push” the existing queued transactions into the open ledger by submitting a new transaction with a high enough transaction cost to pay for all of them. Specifically, the new transaction must decrease the total transaction cost of the queued transactions from the same sending address, including the new transaction, to cover the open ledger cost of each transaction as it gets added to the ledger. The total must include the decreased open ledger cost for each new transaction.
2nd highest market cap holder
Market caps are a good indicator of the gains and losses investors are making over time. Market Capitalization is one way to rank the relative size of a cryptocurrency. It’s calculated by multiplying the Price by the Circulating Supply.
Market Cap = Price X Circulating Supply.
Circulating Supply is the best approximation of the number of coins that are circulating in the market and in the general public’s hands. Total Supply is the total amount of coins in existence right now (minus any coins that have been verifiably burned). Max Supply is the best approximation of the maximum amount of coins that will ever exist in the lifetime of the cryptocurrency.
Fast low amount transaction acceptance
The current minimum transaction cost required by the network for a standard transaction is 0.00001 XRP (10 drops). It sometimes increases due to higher than usual load. Some transactions though have different rates for e.g –
Multi-Signed Transaction – 10 * number of signatures provided
Escrow-Finish Transaction with Fulfillment
These low costs have made it very popular.
Low price cryptocurrency
The current price of Ripple XRP is $3.77 USD. With a price this low compare it to the current price of Bitcoin which is $15.038 USD. Now at this point of time why would anyone want to invest almost 15000 in a coin which has been around since years than to rather invest in a new coin with price of just $3.77. As the Ripple’s low price would provide huge benefits very a really small amount thus making the cryptocurrency more popular for newbies. Even if they face loss in future as the amount being small the investors don’t have much to lose other than their spirits.
Secure and easy to understand
The openness with which the Ripple network operates has, on the other hand, also allowed for vulnerabilities to develop. Researchers at Purdue University have found that, although the core of the network remains highly liquid, that the structure also allows for attacks on certain nodes within the network to cripple some users’ access to funds. In fact, some 50,000 wallets may be immediately at risk if such an attack were to occur. But the openness exists for a reasons. It is because of the Ripples’ Bug bounty program which was introduced way before the XRP was even launched. This allowed developers to find security loopholes with some bounty rewards and making it secure even before it was launched.
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