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#XRP
As of December 2024, XRP ranks 4th by market capitalization in the cryptocurrency rankings with investments of $131 billion.
Ripple (Ripple Labs) is a company founded in 2012 with the aim of creating a payment system to accelerate and reduce the cost of cross-border transfers. As part of this system, the digital asset XRP was developed. The founders of Ripple are Chris Larsen and Jed McCaleb.
2012: Ripple Labs was founded, and the development of the XRP Ledger (distributed ledger) began.
2013: 100 billion XRP tokens were issued. All tokens were created at once, and there is no mining.
2015: Ripple received licenses to operate as a financial company in the U.S.
2017-2018: XRP gained popularity, with the price peaking in January 2018 (around $3.84).
2020: The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, accusing the company of illegal sale of securities (XRP).
Characteristics of XRP
1. Technology:
XRP operates on RippleNet, which uses the XRP Ledger — a decentralized blockchain. The XRP Ledger supports 1500 transactions per second, which is much faster than Bitcoin and Ethereum.
2. Features of XRP:
Speed: transactions are processed in 3-5 seconds. Low fees: the cost of one transaction is less than $0.01. Energy efficiency: XRP does not require mining, making it more environmentally sustainable.
3. Goals:
Simplifying cross-border payments for banks and financial institutions. Reducing costs and processing times for payments.
Prospects for XRP
1. Advantages:
Wide adoption in the banking sector. Ripple collaborates with over 300 financial institutions worldwide. The RippleNet technology is actively used to streamline international settlements. High speed and low fees make XRP competitive.
2. Risks:
Legal disputes: the SEC lawsuit remains an important factor of uncertainty, despite Ripple's interim successes. Regulatory risks in other countries.
3. Prospects:
If the legal issues are resolved, Ripple could become a key player in the international payment market.
The strengthening trend towards digitization of financial operations may increase demand for RippleNet technologies and XRP.
Conclusion
Ripple and XRP are a promising project focused on cross-border payments. However, its future depends on the outcome of legal disputes and the company's ability to adapt to changing regulatory conditions.
As of December 2024, the legal disputes between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) continue.
November 2024: The court set the date for the next trial for January 21, 2025, suspending the consideration of related cases until the appeal is resolved.
Currently, XRP is one of the most promising cryptocurrencies.