Ripple has been surging on positive developments surrounding its SEC lawsuit. This is certainly good news for hodlers, some of whom have been hanging on to it for years.
This guide has everything you need to know about Ripple: what it is, would it be a valuable investment, and the top places to buy Ripple today.
Top places to buy Ripple now
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What is Ripple?
We’ll start with the difference between XRP, Ripple and RippleNet. XRP is the currency used on RippleNet, a digital payment platform running on top of XRP Ledger, a distributed ledger database.
Ripple operates RippleNet, but the XRP Ledger is open source and not based on blockchain. RippleNet is an RTGS (real-time gross settlement) system that aims to enable instant monetary transactions globally. You can use any currency in the system.
Ripple created XRP as a faster, cheaper, and more scalable payment alternative. The XRP community maintains the ledger, which processes transactions every four seconds on average.
Transactions are processed whenever validator nodes come to a consensus on the validity and order of XRP transactions, unlike Bitcoin’s proof-of-work mechanism. Anyone can be a Ripple validator.
Should I buy Ripple today?
Ripple bulls are holding their breath for an end to the lawsuit, which would mean its price shooting through the roof. And it does look like there’s one in sight.
Judge Analisa Torres ordered the unsealing of several previously inaccessible documents and granted Ripple permission to respond to an SEC memorandum. This is bullish news. According to attorney Jeremy Hogan, it will expedite the process greatly.
On the other hand, nobody expected Ripple’s lawsuit to go on this long. It started in December of 2020.
Ripple price prediction
Regardless of the outcome, CoinPriceForecast expects Ripple to break $1 this year. They forecast a year-end value of $1.07. Digital Coin concurs. They predict $1.09 by the end of 2022.
Ripple on social media
— Jono Grant (@JonoGrant1) February 7, 2022