The rankings of the most popular crypto assets show that XRP is among the top ten digital currencies in the market. XRP is the native currency of the Ripple platform. The token is used to convert different currencies and facilitate money transfers around the world. The core essence of the Ripple project is to enable efficient and cheap cross-border money transfers. In November 2022, the Ripple XRP cryptocurrency price was around $0.37. What affects the price of Ripple? That’s what we want to talk about in this article.
Ripple’s technology has already been praised by some of the world’s leading financial institutions. Several major banks and financial enterprises already use the network. The reasons are as follows:
These advantages allow Ripple to compete with the SWIFT system.
Crypto charts show that the price of XRP does not change significantly over time. The reason is the legal process with the SEC that requires Ripple to recognise Ripple XRP as security. This process has been going on for several years and will hopefully be completed in the near future. However, there are a few things in favor of the XRP Ripple price. Two factors can be mentioned:
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