Among hundreds of cryptocurrency projects represented in the market, the strongest and the most successful are those bringing valuable technology to the industry, expanding the crypto application scope, and connecting the real sector with blockchain. An excellent example of such projects is Ripple. The platform developers aimed to create a quality service for fast and secure payments at low fees across the world, and they managed to do it well. Now Ripple network is used by around 200 financial establishments worldwide.
Ripple is focused on banks and financial companies that want to facilitate their payment system and have a better version of the SWIFT system. Indeed, Ripple allows cheap money transfers worldwide in a matter of minutes with no middlemen. This groundbreaking technology drew the attention of so many companies.
XRP token is at the core of the Ripple network, and it is among the top traded coins in the Coinmarketcap rating. Ripple current price is $0.37 as of late November 2022. The rate is low compared with the market leaders, and there are some reasons for it.
SEC’s Lawsuit
In 2022, the SEC filed a lawsuit against the Ripple Labs company, claiming that the XRP token is security. Since then, several court processes have passed, and the parties have yet to come to agreement. It is obvious that legal proceedings slow down the development of the project. That is why today XRP price is low.
However, many market players hold XRP tokens hoping the parties sort out the issues and come to an agreement. The platform has good prospects for development, and if it does, it will replace the SWIFT system.
Where Can I Buy XRP?
To check out the Ripple XRP price now and to buy this asset, you may use the WhiteBIT crypto exchange. This centralized trading platform allows for buying digital assets with real money via bank cards. In addition, there are over 450 different pairs of crypto and fiat currencies you can use for trading.
