# **XRP: Ultimate Guide to Third Biggest Cryptocurrency by BaltEx**
![xrp_blog.png](https://strapi.velosiped.club/uploads/xrp_blog_ffa2ee9672.png)
Let's be honest, every crypto enthusiast who just entered the field of digital assets or has been there long enough knows these three words - XRP, but few really understand what it is and more importantly why it is the third largest cryptocurrency with a market capitalization of $141 billion. In this guide made for you by BaltEx, we'll try to answer once and for all all the questions about XRP - the cryptocurrency that's about to make it into the US Strategic Reserve.

#### **What is XRP?**
XRP, often referred to as the “banker’s cryptocurrency", was created by Ripple Labs in 2012. Well, actually Ripple Labs financed the creation of XRP Ledger, which XRP used as the native cryptocurrency. The protocol was firstly called Ripple Protocol, but later was renamed. Among key figures behind it are Jed McCaleb, Arthur Britto, and David Schwartz, who is current CTO at Ripple. Important to note, that XRP and Ripple are associated with each other, but are two different subjects. This may come confusing, but the crypto company just uses XRP in its operations, and is a validator in XRP Ledger, and in the meantime does not claim the ownership of neither XRPL nor XRP. Still, this does not come in the way of Ripple to amass over 37% of XRP's supply. So, unlike Bitcoin, which was designed as a decentralized peer-to-peer currency, XRP was built with a specific purpose in mind: to revolutionize cross-border payments. The novel is simple: banks and other institutions adopt XRP as intermediate currency and leverage all their operations through this asset.
#### **What Are the Use Cases of XRP?**
As we've learned, XRP isn't just another cryptocurrency; it's a utility token with real-world applications designed as an enterprise solution. Here's how XRP is being used today: Cross-border payments: XRP's primary use case is to facilitate fast and affordable international money transfers. Financial institutions such as Santander and American Express are using Ripple's technology to process cross-border payments in seconds, bypassing the traditional SWIFT system, which can take days and incur high fees. Liquidity Bridge: XRP acts as a bridge currency, enabling seamless exchange between fiat currencies and other cryptocurrencies. This eliminates the need for pre-funded accounts in destination countries, reducing costs for banks and payment providers. Micropayments: With its low fees and fast settlement times, XRP is designed for micropayments, enabling new business models in industries such as gaming, content creation, and IoT (Internet of Things).
#### **Why Is XRP So Popular?**
One can argue that any cryptocurrency can be served on the table as "future of finance" and never seen before technology, but XRP actually has something that not so many cryptocurrencies have. That is - the community known as "XRP Army" and Ripple, and the first point is even more impactful. It just happened that in 13 years, XRP and its concept as a "global standard" built this cryptocurrency into a community that many other projects dream of once building. XRP enthusiasts are truly 'deluded' in a good way and probably have the most diamond hands in the entire market. They believe that one day the coin will be accepted by every bank in the U.S., if not the world, and will replace every other payment system out there like Visa or Mastercard. Well, their patience and belief is paying off for them as well. Just imagine, in 2018 XRP hit an all-time high at $3.3, lost 85% since then, accumulated for 8 years, and this year made it to $3.4. And all this time the number of holders has only gone up. Of course, the fact that Ripple Labs has partnered with more than 300 financial institutions worldwide, including major players like MoneyGram and Standard Chartered, also played a role. This institutional support gave XRP credibility and helped drive adoption. Thus, the convergence of strong retail support and institutional adoption has brought XRP to where it is today - the third largest cryptocurrency in the world.
#### **Where to Buy XRP? BaltEx Has You Covered**
If you're ready to take the plunge and add XRP to your portfolio, look no further than BaltEx - the cross-chain exchange that rewards you! Crypto swaps are usually just that - swaps. Click, confirm, done. Functional, sure. But exciting? Not really. At BaltEx, we're changing the game. Here's what BaltEx brings to the table: - Seamless Swaps: Easily exchange XRP and other cryptocurrencies across multiple chains. - Enhanced Security: State-of-the-art encryption and multi-layer security protocols to safeguard your assets and transactions. - Community-Driven: Join a vibrant community of crypto enthusiasts and innovators shaping the future of decentralized finance. - Upcoming Features: Stay tuned for exciting new tools and integrations designed to enhance your trading experience. So why wait? Join BaltEx today and start your XRP journey with the exchange that's as innovative as the cryptocurrency itself.

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XRP: Ultimate Guide to Third Biggest Cryptocurrency by BaltEx