What is This Cryptocurrency? XRP
XRP is the token associated with the company called Ripple. The XRP token is a token used as a store of value that can be exchanged into other types of tokens or currencies. These types of currencies are important because they can serve as a way to efficiently trade different types of currencies whether they be digital or fiat. The XRP token has competition in this arena since there are other tokens that serve as a store of value. The one thing that distinguishes XRP from other tokens is that it has been working with banks to make the token the go to cryptocurrency for the store of value. This is a positive for some since it gives the token and company name recognition. The negative is that the token would act in a more centralized manner than the traditional cryptocurrency de-centralized manner.
XRP is not the only token that works as an store of value. Stellar is a company that has the XLM token used as a store of value as well and for specific transactions. Stellar has already created a specific exchange that allows for individuals or companies to create their own token on the Stellar Exchange as well as transact different fiat or cryptocurrencies for the XLM token. Stellar is more de-centralized than Ripple which can be viewed as a positive for some. XRP has held the value for some time now and many who have invested in the XRP community are waiting to see if XRP will continue to soar.
Currently XRP has been rather stable in the price of token although it also has increased in value as Bitcoin rises. Many alt coins experience a rise in price after Bitcoin increases a rise in price as well. While XRP is currently rather stable, it can change from time to time and is not a stable coin or cannot be considered a stable coin. Stable coins like Tether are pegged to the dollar or other fiat currency that allows the price to remain stable instead of fluctuating like other cryptocurrencies.
XRP is the fourth cryptocurrency by market cap. XRP is a cryptocurrency that is among the top cryptocurrencies due to the amount of time that has been invested in developing the token as well as the community around it including the wallets and work done to connect it with banking. While XRP may have fluctuations in prices that other coins have, it continues to attempt to merge the tech and the financial world.