Home / Uncategorised / The Value of Ripple, third Largest Cryptocurrency Plunges Down by 3.89 Percent

The Value of Ripple, third Largest Cryptocurrency Plunges Down by 3.89 Percent

In the Recent Dispute, Ripple filed a counterclaim in New York state court that accuses R3 of signing the deal in bad faith, and using the partnership to steal its expertise in order to develop a competing product.

Ripple’s price was trading at $0.83 before falling over 1 percent to $0.7760 on the day. Since the loss, XRP has climbed back up and is currently worth $0.79.

Ripple seems to have a drastic slump  – the digital currency was trading at $0.96 seven days back yet has since dove.

Despite the declining market value – Craig Cole, from cryptomap, explained that the cryptocurrency still has the technology to “disrupt the industry”.

He said: “Its faster transaction speeds and lower fees make it easier for financial systems to embrace the virtual currency, which is partly why Ripple’s value has increased dramatically just this year.

Ripple is helping financial institutions save money and it is only expected to become even more prevalent in payment flows.

“The virtual currency is certainly on the rise and has the potential to be the first token to truly disrupt an industry, and if it does, expect XRP to reach Bitcoin-like levels of ubiquity in the near future.”

Transactions can take place in as quick as 10 seconds using XRP, however with a nominal charge of 0.00001 Ripple coin to those that make payments. However, the transaction costs are almost to remain same, even if the value of Ripple rise  Low transaction fees could make XRP more appealing than other cryptocurrencies on the market like Bitcoin.

Unlike the highest-valued virtual currency, Ripple is not limited to 21million coins. Instead, 100billion XRP tokens are able to exist – making it greater in supply than Bitcoin by 4700 times.

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