What is XRP and Why is Ripple Going Down?

Ripple is one of the top-traded digital assets on the Coinmarketcap ranking. It may be one of the most controversial projects in the crypto industry, and in this article, we will try to figure it out.

The Ripple company was founded long before the world heard about crypto. The platform was built for quick and convenient money transfers all around the world. Its XRP token plays a key role in currency conversion and delivery worldwide. Ripple rivals the popular SWIFT system used by banks.

The Ripple ledger is used by:

• businesses and financial corporations – to ease currency conversion and transfer;
• individuals – to send money around the world, converting it to any currency;
• developers use it as a basis for products.

XRP token is a middle layer between fiat and crypto currencies, helping to convert them faster and conduct transactions in a matter of seconds. Compared with the SWIFT system, which takes a lot of time and charges fees.

Today Ripple price is $0.34. The rate does not change much, and the reason is a long-lasting lawsuit with the SEC. The commission demands the company recognise XRP as a security asset. It slows down the project’s growth.

Ripple partnered with over 100 financial organizations worldwide that use the technology to facilitate payment processes. Still, the company has an enormous potential to receive many more clients once it resolves issues with the SEC. So the Ripple coin price is likely to grow in the future.

Where to Track Live Ripple Price?

You can always visit the Coinmarketcap website to see the current prices of digital assets. If you need Ripple exchange and trade, welcome to the WhiteBIT platform. It is a reliable crypto trading service with various tools and over 450 traded pairs. Registered clients can buy digital assets with fiat and withdraw funds directly to a bank card.

The platform has an educational resource that publishes crypto news and descriptions of new projects, guides on trading, explanation of financial instruments, etc.