Ripple also known as XRP coin is seeing a dramatic spike in price in last one month. Just look at the below trend captured for the month of december. It rose nearly ten times in Indian rupee. Similar is the global trend.
So what is ripple? Ripple is coin that enables faster settlement of international money transfers. You and me who have done international money transfers know that it takes 2-4 days using SWIFT etc., and till the money comes into bank account we are at the mercy of multiple intermediaries for transfer to take place smoothly. With ripple this is avoided where every transaction is recorded on block chain so that our money is safe and transfers happen in seconds. Isn't it cool?
But ripple coin is backed by a single company and they can pump the ripple in market any time to cool down the market. So not good for long term, but for short term if you can buy dips in the market you can be rewarded handsomely with this coin.
But ripple coin is backed by a single company and they can pump the ripple in market any time to cool down the market. So not good for long term, but for short term if you can buy dips in the market you can be rewarded handsomely with this coin.
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