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The Silicon Review Asia

Is Ripple the Best Thing Now?

Is Ripple the Best Thing Now?

From 1.95 dollars to 3.95 dollars in a week, XRP, the token value of Ripple has blown up by nearly 1400 percentage intriguing all the investors. With the craze building up for cryptocurrency and investment upon it, Ripple has turned out to be a great investment compared with the staggering price value of Bitcoin.

Ripple is a system which provides global financial transactions supporting cryptocurrency and other commodities. Ripple follows iterative consensus process and hence requires less time for financial transactions compared to the Bitcoin’s. While Bitcoin’s transaction takes 7-40 minutes, Ripple’s transactions will get completed in few seconds! 

Ripple is used by many banking and financial companies such as UniCredit, UBS, Santander, RAKBANK and American Banker. But many banks and companies, though they use the Ripple’s technology they hinder to use the tokens. Ripple has announced that Cuallix, a company involved with Mexican money transfer, will be using XRP, the Ripple currency. In his statement to The Street, Ripple CTO Stephen Thomas said “With RippleNet, financial institutions can process their customers' payments anywhere in the world, instantly, reliably and cost-effectively using just one API.” All these might be the reason for its skyrocketing XRP value in the market and also the reason why all Ripple tokens are now worth more than 140 billion dollars.

There are few market experts who speculate that this boom in XRP is just a temporary frenzy but with this rate of rising, you cannot take the risk of waiting for a few days to invest because who knows, its value might reach the summit!

 

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