How to Buy XRP (XRP)

One of the strongest testaments to Ripple’s XRP is its ability to remain within the top 10 cryptos’ list despite its legal hurdles in the US. Even though its price was unable to rally through 2021 when most cryptocurrencies, including Bitcoin, hit new ATHs, there was not much of a crash in the XRP price through the course of the lawsuit either.

The XRP cryptocurrency remains a formidable crypto asset even in the face of legal troubles mainly on account of the rising adoption of the Ripple network among financial institutions around the world. Ripple has spread into the emerging markets, Middle East, Asia and Africa, enabling faster and cheaper cross-border transactions for banks and payment providers in these regions.

Unlike several new cryptocurrencies, the XRP token already enjoys considerable use by mainstream players, a key advantage that sets it apart. In addition, Ripple has committed to developing the XRP Ledger further, giving it capabilities to support NFTs and other versatile applications on its blockchain. Such a move could potentially make Ripple’s token an even more attractive digital asset to add to investors’ portfolios.

Given below are the most popular use cases for the XRP cryptocurrency:

Transfer Payments Digitally

The open-source digital asset is used to send and receive payments digitally in a low-cost, high-speed manner worldwide. Individuals, banks, and financial institutions that use the XRP Ledger to transfer payments utilize the XRP cryptocurrency as a bridge between the two currencies in which payment is sent and received.

Crypto Asset to Trade and HODL

Trade XRP against other cryptocurrencies to profit from changing market conditions and volatility. You can buy or sell $XRP against other digital assets or hold it long-term if you believe in the future potential of Ripple and XRP Ledger. Review the XRP live price, market cap, circulating supply, 24-hour trading volume, and the latest crypto news before trading XRP in the crypto market.

Earn Passive Income on CryptoGem

You can also generate passive income and grow your crypto holdings by investing in XRP via CryptoGem. Head to CryptoGem Crypto Lending to lend liquidity in XRP to our platform and earn attractive daily interest over seven days, 14 days, or 28 days.

Although many investors use the terms interchangeably, there is a vast difference between Ripple and XRP. Ripple is a shorter representation of Ripple Labs Inc., the company that has developed the Ripple payment protocol using the XRP Ledger - its own blockchain network.

XRP is the native digital asset used to conduct transactions on this network. It is also a cryptocurrency that can be traded on exchanges or held as a store of value by investors.

Ripple, the company, uses XRP as a bridging currency within its payment protocol. Users wishing to conduct transactions over RippleNet can send cross-border payments, convert one fiat currency into another, using the decentralized system built of XRP Ledger. This system utilizes the XRP tokens as the method of facilitating the transaction.

Ripple does not use a proof of work consensus mechanism like Bitcoin, as a result of which its token XRP cannot be mined like BTC. At the time of launch, Ripple’s developers created a fixed total supply of 100 billion XRP coins.

Apart from the 20 billion XRP given to the company’s founders and the tokens that have already entered the market, Ripple controls the circulating supply of the remaining tokens. The company periodically releases XRP tokens from its supply (escrow account) to provide liquidity and maintain the XRP price.

However, if you wish to own the XRP coin, you can do so by buying the crypto from crypto exchanges and trading platforms. Ensure that you check the current price and perform some analysis of the Ripple token before making your trade.