Getting to Know XRP: The Top 10 Crypto in The World

Along with the development of crypto investment and the establishment of various crypto exchanges in many countries, people no longer only focus on 1-2 types of cryptocurrencies . Now people no longer only focus on Bitcoin (BTC) or Ethereum (ETH).

Several other types of cryptocurrencies that have soared include Binance Coin (BNB), Dogecoin (DOGE), XRP and so on. Big Alpha briefly discussed a number of popular cryptocurrencies such as Bitcoin, Ethereum, and Binance Coin.

So what about XRP？ This article will discuss XRP, a cryptocurrency that is in the top 10 largest cryptocurrencies in the world in terms of market capitalization.

1. Occupants of the Top 10 Largest Market Cap

XRP is one type of crypto that is quite attractive to investors. From the market capitalization portion, quoted from the Coin Market Cap as of May 12, 2021, XRP is in seventh place with a value of US $ 53 billion. XRP was in the fifth position but its position was shifted by Cardano (ADA).

That market cap rating is of course subject to change as XRPs price changes. Apart from Cardano, cryptocurrencies that are above XRP include Bitcoin, Ethereum, Binance Coin, Dogecoin, and Tether.

2. Inspired by Bitcoin

The creation of XRP was inspired by Bitcoin, the crypto with the largest market capitalization at the moment. Three engineers from the United States, David Schwartz, Jed McCaleb and Arthur Britto, built XRP Ledger in 2011.

Fascinated by Bitcoin, they tried to create a better version of what was developed from the limitations of Bitcoin. For information, XRP was created with the aim of making digital assets more sustainable and built specifically for payments.

XRP Ledger was launched in June 2012 and founded the Company OpenCoin company which is now Ripple. XRP was created with the hope of being another version of Bitcoin that is faster, cheaper and greener.

Ripple now operates as a company that provides payment services in the financial industry. The payment service uses a coin called XRP which is now also used as an investment vehicle for crypto investors around the world.

3. Made For Payments

According to the site XRPL.org, XRP is defined as a digital asset built for payments. This digital asset is described by the site as “the best way to move money around the world; fuel for a burgeoning digital economy.”

The site explains that through RippleNet, financial institutions can use XRP to link two currencies in 3-5 seconds and ensure payments are sent quickly and received in local currency for both parties.