While Bitcoin is a digital currency intended as a means of payment for goods and services, Ripple is a payment settling, currency exchange and remittance system intended for banks and payment networks. The idea is to provide a system for direct transfer of assets (e.g. money, gold, etc.)
Will ripple overtake Bitcoin?
Analysts at PrimeXBT say XRP is the one to watch in late 2020 and into 2021 as Ripple forecast charts suggest that XRP is set to significantly outperform Bitcoin, Ethereum, and the rest of the crypto market.
What is special about ripple?
Aside from the cryptocurrency XRP, Ripple is perhaps even better known as a payment settlement, asset exchange, and remittance system that works more like SWIFT, a service for international money and security transfers that is used by a network of banks and financial intermediaries.
Why does XRP have value?
The company’s value comes from being the creator and majority holder of digital currency XRP. Ripple owns about 60 billion of the 100 billion XRP tokens that will ever be in circulation.
Why has ripple dropped so much?
Ripple’s XRP token has fallen more than 30% after the SEC filed a lawsuit against the cryptocurrency firm. Ripple’s XRP cryptocurrency tumbled by as much 32% on Wednesday, after the US regulator filed a lawsuit against the company’s executives over sales of the token.