Ripple Joining Huobi’s OTC Is The Ultimate Game Changer For XRP and XRP Investors – XRP News Today

Ripple News Today – Huobi was proud to announce the inclusion of Ripple as part of its OTC trading platforms. Huobi, with its daily trading of over $700 million, is the seventh largest crypto exchange in the world. The addition of Ripple’s XRP gives Huobi more instruments to trade with alongside Bitcoin and Ethereum. Huobi’s OTC platform is very popular in the cryptocurrency trading communities. Analysts and enthusiasts are predicting a future where Ripple’s XRP will be the main use in OTC transactions.

Ripple News Today – XRP News Today – Understanding Ripple And Ripple’s XRapid

Ripple, first and foremost, is a platform that is open source and has the capability to enable transactions in a fast and cheap manner. This feature makes it a more viable option for financial institutions and banks. Ripple stands as the third largest cryptocurrency after Bitcoin and Ethereum, but unlike Bitcoin and Ethereum, Ripple’s blockchain system is not mined.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.295
4.35%

XRapid is Ripple’s answer to over-the-counter transactions. XRapid acts as a bridge for different currencies and even cryptocurrencies. Its transactions are very fast and cheaper than other cryptocurrency transactions. Boasting a transaction time of 4 seconds, Ripple’s XRapid can make over a thousand transactions in a second.

In the world of cryptocurrencies, the aim is to create a new financial system. XRapid stands out as it acts more like a bridge or Gateway than a new financial system. The banks and financial institutions stand at one end while crypto banks stand at the other end. Ripple’s blockchain system connects both financial systems through the use of XRapid.

Another way Ripple stands out from other crypto banks is the lack of ‘mining’. Ripple’s XRP already exists and so the need for miners is not necessary. This makes transactions on Ripple’s platform faster and cheaper than other platforms.

Ripple News Today – XRP News Today – Understanding The Benefits of Ripple And XRapid

Prior to Ripple, banks and other financial institutions used USD as the currency exchange. This created double commission as banks charged to change currency to the USD and to the needed currency for that transaction. XRapid makes it easy to transact business in a different currency and also save money during the transaction. Regular bank transactions can take days and most cryptocurrency transactions can take hours. Ripple’s XRapid transactions are superfast, occurring in only seconds.

Unlike the ‘finite’ nature of some cryptocurrency, Ripple’s XRP is infinite. It can be printed when needed and destroyed afterward. Ripple’s XRapid is very centralized and completely opposite from other cryptocurrencies. This has brought Ripple under criticism as people have wondered if Ripple can be classified as true cryptocurrency.

Ripple News Today – Ripple Latest Update – XRP News Today – Ripple Is The Future

Though Ripple price has remained under a dollar for most of its existence, the future seems bright for Ripple. Ripple’s XRP is not mined and neither is it affected by inflation. Its blockchain system has attracted the attention of leading financial institutions and banks like Union Credit, Santander, and NBAD. As more banks make use of Ripple, the value of Ripple’s XRP will also increase.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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