Ripple Price Chart (XRP)
Price of Ripple (XRP)
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Money Metals Exchange's interactive Ripple (XRP) chart allows you to check the price of Ripple today or historical Ripple prices. Hover over the chart to see the spot price for that particular day.
What is Ripple?
Ripple is a form of cryptocurrency as well as a digital payment platform. It allows people from all over the world to send and receive payments without the direct involvement of conventional money transmitters and banks.
That does not mean major financial institutions aren’t involved. A consortium of Wall Street banks is deeply invested in developing applications on and supporting the platform. Control of Ripple is not decentralized and there is no limit on the number of tokens which can be issued. Ripple Labs, which is responsible for developing the platform, has support from a who’s who of major tech and financial companies. These firms include Google and the CME Group.
For this reason, many “hard core” proponents of cryptocurrency are critical of Ripple. They hope to see truly decentralized tokens such as Bitcoin disrupt the existing financial system and even replace conventional banks.
Ripple coin is called XRP. XRP is like the middleman in a transaction—it’s the point where one currency is converted to another. Any currency exchanged between merchants is automatically converted, so there’s no delay while transactions are confirmed by the network like there is with other crypto platforms.
Ripple includes a blockchain database - something it has in common with Bitcoin - but similarities end there. Transaction fees are lower and faster, but at the expense of centralization and security.
Ripple allows the transfer of Bitcoin and altcoins, so proponents argue that it isn’t Bitcoin’s competitor. Rather, it benefits Bitcoin and other altcoin investors.
Like all cryptocurrencies, Ripple prices have been volatile. Ripple currently ranks third in the world for largest cryptocurrency platform.
What Price Will Ripple Reach?
Ripple’s price will depend on adoption over the longer term. Like other cryptocurrencies, it has no intrinsic value. It will have to prove useful and achieve a place in peoples’ tool box.
In the short run, Ripple’s value is fueled by speculation. Supporters are optimistic about the coin’s potential to be widely used. Other investors may simply buy the coin with hopes the price will rise and they can sell at a profit.
Ripple prices have risen dramatically since the coin’s launch, but that doesn’t mean they’ll go up forever. Some people predict XRP prices will eventually reach $1,000. This figure is unlikely, unless Ripple wins the battle for adoption and the people controlling issuance are conservative.
XRP is premined, which means a lot of XRP tokens were issued to the governing body prior to them being made available to the public. The amount of Ripple already issued is enormous. A market value of $1,000 would mean that Ripple tokens would have to be worth several times that of the world’s major stock exchanges like NASDAQ and the London Stock Exchange.
While Ripple doesn’t brand itself as a Bitcoin competitor, there are some areas in which they do compete. The competition for investment dollars from speculators is one such area. Bitcoin is currently winning in that area with the combined value of Bitcoin tokens at more than ten times that of Ripple.
Why Is Ripple Price Lower On Gatehub?
Despite Ripple prices going up, its value on Gatehub is currently lower than any other platform on which you can buy XRP. There are a few reasons for this, but one of the major issues is the low volume of exchange.
People don’t buy XRP on Gatehub as often or in quantities as large as on a larger exchange such as CoinBase or Binance. The lower value reflects how little investors buy. In Gatehub’s case, there are fewer buyers, which means lower demand and a lower exchange rate.
Gatehub also trades on the XRP Ledger, and Gatehub itself is a wallet as opposed to a trading platform. Gatehub also charges higher fees than other platforms, which contributes to lower Ripple prices. Some investors find Gatehub to be more challenging to use, which leads to lower exchange volume, driving Ripple prices down.
In short, Gatehub’s Ripple prices are a product of supply and demand. Because the demand is lower there than it is elsewhere, the price is also lower.
What Influences the Price of Ripple?
Several factors influence Ripple prices. The first is Ripple’s technology. Ripple technology is unlike any other crypto, and this makes it faster, more efficient, and more user-friendly. That makes it more appealing to investors who either aren’t aware or don’t care about the token being under centralized control or the quantity being unlimited. Ripple transaction are fast and efficient, which is an advantage.
The media also plays a considerable role in cryptocurrency. The buzz surrounding cryptocurrency fueled speculation. Over the past decade, funds have poured into the space – especially during time periods with huge price gains being in the news.
In our increasingly digitized world, it’s no surprise that digital currency is becoming more popular, too. The more media attention Ripple gets, the more people want to buy it.
Crypto whales — people who hold enormous amounts of cryptocurrency — can also affect the crypocurrency prices. If these investors choose to buy or sell enough tokens at once, the price will reflect these moves.
There are even governments who can affect Ripple prices. South Korea uses XRP as a popular currency, which means there are a lot of South Koreans who participate on the Ripple network. Governments can also enact laws that affects the exchange of XRP (which it has in the past), that affects trade.
How to Buy Ripple Cryptocurrency
There are a lot of ways you can buy Ripple cryptocurrency, but the easiest way is with Bitcoin or Ethereum. First, you buy Bitcoin or Ethereum on Coinbase or Binance. Then, you can exchange those currencies for XRP.
You can also buy XRP with credit, debit, PayPal, or cash, but those transactions can be trickier. Coinbase allows you to buy XRP with a debit card but not with credit. However, Coinmama and CEX.io allow both debit and credit. Just watch out for the associated fees—they can get pricy.
If you want to use PayPal to buy XRP, you still need to purchase Bitcoin or Ethereum first, and you can do that with Binance and Coinbase. The hardest (and therefore the rarest) way to buy Ripple crypto is with cash. While it can be done, it’s not something most investors prefer.
Ripple is already built on trust between investors, so it might be difficult to find someone who will let you pay with cash. However, LocalBitcoins can help with transferring cash to buy Bitcoin, which you can then use to buy XRP.