Ripple Labs is a company that has been working on developing an ideal payment system bank, individuals and corporations could use to facilitate their business processes and reduce the costs for money transfers across borders. Due to its XRP token, the Ripple platform is capable of providing a high-quality service:
- Instant cross-border transactions that take 3 – 5 seconds.
- Sustainable and secure solution for central banks to develop and issue their own digital assets.
- Building blockchain applications.
- No middlemen in payments
- Low fees ($0.0002 per transaction).
XRP token is listed on all large crypto platforms. Today Ripple price is $0.37. If we look at the XRP chart, we can see the peak value was reached in 2018 – over $3. Why is it so low?
Ripple and SEC Lawsuit
In 2020, the SEC filed a lawsuit, claiming that XRP is security. Ripple Labs does not want to claim the same, so the court case is dragged on. The Ripple platform has around 200 real clients – corporations and banks that use the XRP token as a base for fast and cheap payments in their businesses. The fact is that the Ripple network is much faster than the Bitcoin blockchain. The platform has a big chance to expand its adoption globally, but the legal proceedings slow down its development. Experts believe as soon as the lawsuit is closed, the platform will multiply its client base and expand its adoption worldwide, so the Ripple price XRP will boost. Before it happens, it is a good chance to purchase XRP tokens, and you can use the WhiteBIT platform for that. It charges low transaction fees and offers current prices for digital assets. To check out the Ripple XRP price now, go to the WhiteBIT platform and pick XRP and the currency you have. It may be any other crypto asset or fiat money. Then you will see the Ripple price XRP in your currency equivalent.