Published by Raynor de Best, Feb 23, 2021

The value of cryptocurrency XRP reached over 0.40 U.S. dollars per coin during January 2021, two times more than what it was in December. Ripple’s value has been under a dollar per coin for over a year, with little indication of increase.

What is Ripple?

Ripple, in addition to being a cryptocurrency, is also a payment system. Unlike other cryptocurrencies, it does not use blockchain. Instead of this distributed ledger technology, it uses a common ledger that multiple users have access to, trading the security of the number of ledgers in existence for faster transaction times. While the XRP is not one of the most known cryptocurrencies, the company has raised a significant amount of funding.

Other cryptocurrencies

Blockchain, digital security, and financial technology (fintech) are growing areas of investment. The initial coin offering (ICO) has become a common way of raising funds for startup companies worldwide. The question for Ripple and other such companies is whether or not it can differentiate itself from the crowd. The industry is likely to continue growing, but in the long run probably only a few major firms will win the majority of market share.

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