Is Ripple (XRP) old? Future outlook, prospects, market capitalization

Comparison

Is Ripple (XRP) old? This is how it is now called. We will explain the future outlook, future potential, and market capitalization. It is said that the virtual currency market has cooled down considerably in recent years, so I will explain the trends of Ripple etc. What kind of future is predicted?

What is Ripple (XRP)? Features and mechanism

Ripple (XRP) is a virtual currency that has been issued since 2012. This virtual currency has become very popular, especially in Japan. The total number of Ripple issued is approximately 100 billion, and there are no plans to issue any new ones in the future. It was developed and completed by Canadian programmer Ryan Fugger. Speaking of crypto assets, it is Bitcoin, but Ripple is the one with the most expectations. There is a possibility that it will be exceeded in the future.

SymbolXRP
Brith Date2012
DeveloperRipple Inc
Market capitalizationUSD 33.4 billion (2024)
URLHome
X、TwitterHome

Managed by Ripple Inc

The entire currency of Ripple is managed by a company called Ripple Inc, which is based in the United States. Therefore, it is characterized as being categorized as a centralized virtual currency. Ripple is unique in that it is directly controlled by a company.

Total number of coins that can be issued: 100 billion coins

The total number of coins that can be issued is a whopping 100 billion, and there are no plans to issue any new ones in the future. With virtual currency, new currencies are distributed in the market little by little through mining, but Ripple takes a method of not distributing any more in order to maintain its value.

Transfer speed is fast and costs are low

Ripple was born as a virtual currency used in a remittance system called the Ripple Transaction Protocol (RTXP). It has gained support from users due to its extremely low remittance fees and fast remittance speeds. This contributes to improving user convenience.

Approval system exists

Ripple uses an approval system called Proof of Consensus (PoC). PoC is a system in which Ripple-related transaction data is processed on Ripple Inc’s server, and the validity of the transaction is confirmed by a validator and approver. It is a simple form that does not require competition between users.

Future outlook and prospects

Therefore, I will explain the future prospects and prospects of whether this virtual currency can survive in the future. There were also rumors of a lawsuit and a withdrawal from Google. I wonder what will happen in the future. However, it is also true that there are people who have had Gachiho for 10 years and are earning 100,000, 500,000, 1,000,000, and 2,000,000 yen.

What is the market capitalization?

First, let’s look at the movement of the chart. Market capitalization is ¥78.77. As quoted from CoinMarketCap, it was said that this currency would end around 2016. However, if you look at the daily chart below, the lowest price from 2015 to 2017 is the bottom, and since 2018, the overall trend has been high and increasing, so it is clearly rising. Demand is high. From 2022 onwards, it will continue to rise.

Source : https://coinmarketcap.com/

Withdrawal from Google

There was a rumor earlier that the company had withdrawn from Google. However, it is still funded by Google. You will be very relieved that we are affiliated with Google, which is a huge company. Far from declining, the reality is that it is becoming more and more stable. It also has investments from American Express, Bank of America, and Banco Santander, making it more stable than unstable.

It crashed many times

In fact, this currency has crashed many times before. Especially in the 2010s, there was a lot of volatility, and the currency was subject to rapid price fluctuations, so the impact was significant. However, as we enter the 2020s, it is clear that it is on an upward trend. There have been no incidents such as hacking or bankruptcies of exchanges, so there will be no concerns in the future, so any concerns will be resolved.

Legislation has not yet progressed

This can be said all over the world, but virtual currency is a type of digital currency, and there are many people who think that virtual currency is suspicious. Since the value is not guaranteed by the country, it gives the impression of speculation compared to FX. However, even among such unstable virtual currencies, XRP remains at a very stable price. Therefore, there is no cause for concern in this respect.

Recommended virtual currency exchanges where you can purchase XRP

Finally, I will introduce virtual currency exchanges where you can actually purchase this virtual currency. We have compiled the information for your reference. We have selected recommended exchanges that cover altcoins (Ethereum (ETH), Tether, etc. (USDT)) and allow you to invest in a large number of coins. It is an exchange where you can trade using an app or a computer. Each has its advantages and disadvantages, but there is no risk and you can make a large profit by making payments. It is safe because a loss cut is adopted when the amount of loss exceeds a certain amount.

Bybit

Bybit is a cryptocurrency exchange established in Singapore. However, it later moved its base to Dubai and is a virtual currency exchange that is expanding globally. The leverage is quite high at 100 times, and the number of coins handled is over 300, so it is quite fulfilling. Overall, there are plenty of big campaigns and bonus services, which is a plus.

ExchangeBybit
LocationUAE
Coin300~
Leverage100x
CommissionMaker:0.1%
Taker:0.1%
URLHome

MEXC Global

MEXC Global is a virtual currency exchange established in Singapore, Asia. The main users are Japanese, but it is spread all over the world and millions of users transact every day. It handles over 1500 virtual currencies, and you can also speculate on unknown coins, so it is recommended. The maximum leverage is 200x. News also provides information on coins that are attracting attention.

ExchangeMEXC Global
LocationSingapore
Coin1500~
Leverage200x
CommissionMaker:0.010%
Taker:0.050%
URLHome

Gate.io

Gate.io is a virtual currency exchange established in China and may have a suspicious image, but it is currently based in the Cayman Islands and is very safe. It handles the largest number of coins in the world, with over 1,700 issues, making it the most recommended exchange for those who want to speculate. We also communicate through the media when new listed coins are released.

ExchangeGate.io
LocationCayman Island
Coin1700~
Leverage125x
CommissionMaker:0.15~0.2%
Taker:0.15~0.2%
URLHome

KuCoin

KuCoin is a virtual currency exchange established in Hong Kong, but has now moved to the Seychelles Islands. We have successfully expanded globally as a virtual currency exchange that is traded by 8 million people around the world. You can invest in over 700 virtual currencies. The operation is thorough in verifying the identity of the user, and funds can be deposited at a financial institution and international remittances can be made to the wallet.

ExchangeKuCoin
Locationseychelles
Coin700~
Leverage100x
CommissionMaker:0.1%
Taker:0.1%
URLHome

BitGet

BitGet is a cryptocurrency exchange established in Singapore. Currently, there are millions of users around the world, and it is popular because it has very solid security. The latest copy trading has been introduced in the industry, and it is very famous and has a large number of registered and participating users. The amount of money will increase because you imitate the buying and selling details of experienced traders, both short-term and long-term. You can increase it starting from a small amount.

ExchangeBitget
LocationSingapore
Coin700~
Leverage125x
CommissionMaker:0.1%
Taker:0.1%
URLHome

Points to note when trading virtual currency

One thing to keep in mind when trading virtual currencies is that taxes are payable when profits are determined, not losses. Please be aware that if you make a similar profit on overseas virtual currency exchanges, you will be required to file a tax return in the future. Downloading transaction history is also popular and quite convenient, and the technology and functions have progressed considerably. If you are buying in cash, be sure to check as there is a possibility that the prices of the stocks you are holding have soared without you knowing. Please also check the terms of use online.

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