Ripple (XRP) remains one of the most anticipated altcoins among investors, despite its prolonged dormancy in a market where other cryptocurrencies have surged. On January 7, 2018, XRP hit its all-time high (ATH) of IDR 45,650. As of now, it trades at IDR 11,954—a 73.8% drop from its peak. Yet, XRP continues to rank among the top 10 cryptocurrencies by market cap, retaining investor interest.
Here are 7 critical insights about XRP every potential buyer should consider:
1. XRP Is Designed for Financial Institutions
Unlike many cryptocurrencies, XRP’s utility targets financial institutions and payment services. It enables banks to transfer funds internationally without maintaining foreign accounts or incurring high forex fees. Transactions are streamlined using XRP as a bridge currency, ensuring speed and efficiency.
2. Facilitates International Money Transfers
Ripple positions itself as a competitor to SWIFT, the traditional system for cross-border payments. Its RippleNet network allows institutions to use XRP for transactions, though volatility often deters partners from adopting it.
3. Fast and Low-Cost Transactions
XRP transactions average 5 seconds with fees as low as 0.00001 XRP (less than a penny). This makes it ideal for high-volume, time-sensitive transfers.
4. Partnerships with 300+ Financial Firms
Ripple collaborates with 300+ institutions across 40+ countries, including American Express and Santander. While SWIFT’s network is larger (11,000 partners), Ripple’s rapid growth since its 2012 launch is noteworthy.
5. SEC Lawsuit Against Ripple
In December 2020, the SEC sued Ripple for selling unregistered securities worth $1.3 billion. Ripple denies the claims, arguing XRP isn’t a security. The outcome could significantly impact XRP’s price—especially if Ripple plans an IPO post-case.
6. Current Price Remains Below ATH
XRP’s ATH (IDR 45,650 in 2018) hasn’t been surpassed, unlike other cryptos in 2021. Its price fluctuated to $1.96 in April 2021** but now hovers around **$0.84, likely due to the SEC case.
7. Limited Availability on Exchanges
Following the SEC lawsuit, major exchanges like Coinbase delisted XRP for U.S. users. However, platforms like KuCoin, FTX, and Binance still offer it. In Indonesia, XRP is available on Indodax, TokoCrypto, and Pintu.
FAQs
Q: Is XRP a good long-term investment?
A: Its potential hinges on Ripple’s legal outcomes and adoption by financial institutions. Diversify investments to mitigate risks.
Q: How does XRP differ from Bitcoin?
A: XRP focuses on institutional transfers, offering faster/cheaper transactions than Bitcoin’s decentralized model.
Q: Can U.S. residents buy XRP?
A: Yes, but through select exchanges like KuCoin or FTX due to SEC restrictions.
Q: What’s RippleNet?
A: Ripple’s global payment network facilitating cross-border transactions, with optional XRP usage.
Q: Why did XRP’s price drop since 2018?
A: Market cycles, competition, and the SEC lawsuit contributed to its decline.
👉 Discover how to trade XRP with low fees
👉 Explore RippleNet’s impact on global finance
Note: Always research and assess risk before investing in cryptocurrencies.
### Key SEO Features:
- **Target Keywords**: Ripple (XRP), XRP cryptocurrency, RippleNet, SEC lawsuit, cross-border payments.