SMART VALOR is pleased to offer trading of XRP on our exchange platform
After Bitcoin and Ether, XRP is the token with the largest market cap — $10 billion as of the time of this announcement. The total coin’s trading volume is valued at around $700 million in the 24-hour period leading up to today. XRP features one of the most frequently applied use cases in crypto. With ultra-low transaction fees and times, XRP facilitates exchange between less-commonly traded currencies worldwide. Everyone can transfer XRP to anywhere in the world within seconds. Current standards in the banking industry — much of which still runs on antiquated wire transfer technology — take days. Take advantage of our offer to trade - buy and sell Ripple (XRP) on SMART VALOR.
Its fundamental efficiency means that XRP is uniquely scalable among current digital assets. The coin’s ledger handles 1’500 transactions per second and can reportedly scale to equal Visa’s 65’000 per second — for comparison, Bitcoin’s limit is 3.8 and Ethereum’s is, 15.
Deeply entwined with XRP’s history is, of course, Ripple. Based on a concept that dates back to 2004, the modern team really began work in 2011.
The original developers of the coin, Ripple Labs still holds roughly 60 billion XRP in escrow, which they release regularly to finance the team’s operations. Ripple Labs also sees regular massive investment from players who see broad potential in the firm’s technology as well as XRP.
Ripple’s use of Ripplenet, in particular, has attracted major players from traditional finance to regular use of XRP. PNC and Santander are among major banks using the company’s payment protocols. And as of summer 2019, Moneygram has been using Ripple’s xRapid technology to streamline its international payments as well.
The speed and low cost of XRP’s transactions allow banks to transfer funds internationally. Also to convert between currencies more efficiently than their traditional mechanisms.
Since XRP trades across so many currencies and with such low fees, it is often cheaper to go from, say, pesos to XRP to yen than it would be to trade pesos directly for yen through traditional banking systems — which charge major fees for these conversions. This use case is particularly important for smaller banks that cannot afford to maintain access to a wide range of currencies themselves.
In addition, this technology has the potential to change the lives of the world’s quarter-billion migrant workers regularly sending paychecks to their home countries. Traditional systems charge fees on such payments of upwards of 10%. That’s a stranglehold that XRP is already working to break.
Unlike Bitcoin’s proof-of-work mechanism for keeping a decentralized ledger accurate, XRP depends on proof-of-consensus. Instead of energy-hungry mining operations, a network of trusted validators verifies XRP’s ledger for accuracy. The result - decreased environmental footprint
Given increasing institutional interest in using digital assets to overcome global barriers to currency swaps and payments, as well as increasing investments from Ripple’s VC arm, Xpring, across the industry, XRP will be a coin to watch for future developments and certainly a welcome addition to SMART VALOR’s roster of offerings.
Cryptocurrencies can fluctuate widely in prices and are therefore not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Trading history presented is less than 5 years and may not suffice as basis for investment decision.