Ripple is a blockchain technology that behaves as both a digital payment gateway as well as a cryptocurrency. It first came into existence in 2012. The main purpose of this network is to behave as a payment settlement asset exchange for financial transactions.
The symbol used by the cryptocurrency of this network is XRP. While Ripple is the name of the network and the company, the cryptocurrency for the same is XRP. XRP behaves as the medium to exchange currencies between two networks- in the form of a temporary settlement layer denomination.
It ranks among the top five most valuable cryptocurrencies by market capitalization. It requires less energy than bitcoin for transactions. The time required by ripple for transactions is also less when compared to bitcoin.
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The current price of XRP as of October 2021 is $1.06. The market cap of XRP is $49,535,146,334 while the circulating is 46.75B XRP. The total market supply of XRP is capped at 100 billion. The token achieved its all-time high on 4th January 2018 priced at a value of $3.84. The all-time low value of this cryptocurrency was $0.002 on July 7th, 2014.
Ripple is one of the most sought-after crypto networks. It has already seen a lot of positive traction from crypto enthusiasts and investors.
The top three reasons to buy ripple are:
The three-step method to buy Ripple(XRP) on CoinDCX
The very first step to buying ripple on CoinDCX is to create an account on the platform. Use a valid email id and strong password to tighten your security.
CoinDCX is very particular about the authenticity and credibility of its users. Once signed up the users are asked to complete the KYC before buying any token available on the platform. Submit the required documents and the account is verified in the next 15 minutes.
Once the KYC is done the user needs to enter a certain amount of fiat currency to buy the same amount of ripple. Once the transaction is complete ripple gets deposited in your wallet.