What is Ripple's XRP?

Ripple's XRP is one of the top 10 most valuable cryptocurrencies today, with a market cap of $38 billion. But unlike most of its peers, XRP is not a smart contract platform, stablecoin or memecoin. In fact, some would argue that it’s not even a blockchain. So, what is XRP? If you invest in crypto, should you be keeping your eyes on Ripple and XRP?

What is XRP (XRP) and how does it work?

XRP is a cryptocurrency that’s used for a variety of functions in the Ripple ecosystem of products. Its main purpose is to facilitate transactions on a blockchain called the XRP Ledger, but aside from that you could also buy XRP as an investment. The XRP Ledger has many characteristics of a blockchain, but doesn’t work like your typical one.

Does SBI use XRP?

SBI Holdings has also created an app for cross-border payments, called MoneyTap, which uses xCurrent, one of Ripple’s solutions that doesn’t use XRP. In Japan, SBI Holdings has partnered with R3, a blockchain consortium which uses XRP in one of its main products, known as the Corda platform.

How much is an XRP token worth?

As of this writing, according to CoinMarketCap.com, one XRP token is valued at $3.02. Given your 15,634.77 XRP purchased one year ago, your ripple holdings would now be worth a whopping $46,904.32. This is including the $100 you spent on your initial purchase. Needless to say, your initial investment would have yielded tremendous results.