XRP has been making waves lately, attracting the attention of more individuals with the potential to revolutionize the global payment framework. The company behind XRP is Ripple, which is recognized for its innovative approach to utilizing blockchain technology to enhance the efficiency of money transfers for financial institutions, surpassing the capabilities of existing financial services. 

Ripple offerings are particularly suitable for financial institutions, as they offer cross-border payments in an improved manner, with lower costs and faster processing times compared to the rest. XRP is a crucial component of Ripple’s services, as it acts as a bridge between two different currencies, enabling individuals and institutions to leverage more efficient solutions. 

Additionally, XRP can be a valuable investment opportunity, offering investors the chance to speculate on potential price increases. This is why they are looking into how to buy XRP, in order to diversify their portfolios with this asset. 

In this article, we will delve deeper into XRP and its supporters. Keep reading to learn more. 

An overview of XRP

Ripple aimed to provide a more efficient and secure way to benefit from cross-border transactions. In this ecosystem, XRP holds a crucial role and fuels the network. XRP can be used both within the Ripple ecosystem and as an investment option. XRP has speculative demand and can be an alternative to traditional investment options. At the same time, compared to important assets like Bitcoin and Ethereum, XRP is also a more affordable solution, particularly for those new to the crypto landscape. 

XRP has a finite amount, which was minted by Ripple when this cryptocurrency was launched on the market. There are only 100 billion XRP, and from this amount, Ripple is slowly releasing XRP tokens into circulation.  

XRP’s community

XRP was launched in 2012, so it has had ample time to gather strong support from a community that is always there to help this digital coin reach new heights. This is why the XRP community is diverse, comprising a wide range of individuals from various groups. Here are some of them. 

Validators and developers

To function properly and release new tokens, XRP requires developers and validators. They are the people behind XRP, who maintain the integrity of this platform. The core developers are the programmers working on the XRP Ledger, who are responsible for integrating innovations and ensuring the platform operates accordingly, while fixing bugs and adding new features. 

Additionally, there are validators, who are also essential for the proper functioning of XRP. They ensure the XRP Ledger remains reliable and secure, and have several roles:

• Check transactions to ensure they are authentic
• Secure the network
• Reach consensus

In comparison with other cryptocurrencies, XRP employs an innovative method for validating transactions, utilizing a Unique Node List (UNL) that comprises a list of trusted validators, who participate in the validation process. They have essential roles, as they maintain network integrity and improve investor trust. 

Both developers and validators have an essential importance in the XRP ecosystem, as they ensure this network remains decentralized and robust. Additionally, they enhance the integrity and trust of this network. 

Investors and traders

Investors and traders also play a crucial role in the XRP ecosystem, as they are the ones who ensure XRP is utilized and help it achieve improved adoption. They also influence the direction of XRP, as they generate demand and have a significant impact on price movements. 

In addition to regular individuals, XRP also benefits from institutional investors. Ripple has designed its services to complement those of banks, which means that this development can encourage institutional interests. There are already banks that are partnering with Ripple, and as a result, they can also integrate XRP into their operations. 

Ripple members 

Other supporters of XRP are exactly the team members of Ripple. Among the most important names we can mention are Chris Larsen (co-founder and executive chairman), David Schwartz (chief technology officer (CTO)), Arthur Britto (the co-founder of the XRP Ledger), and Jed McCaleb (co-founder). At the beginning, Jed McCaleb, David Schwartz, and Arthur Britto began thinking about the XRP Ledger, aiming to offer a better alternative to Bitcoin, which was associated with a negative impact on sustainability. Then, they were also joined by Chris Larsen in September 2012. 

Why should cryptocurrencies like XRP benefit from a strong community?

Community is one of the most important assets of a digital coin, as it has the power to take a digital coin to new heights that few people expected. A prime example of community support is evident in the case of meme coins, which rely less on technological innovations and more on community support. The community is the one that helped meme coins like Shiba Inu and Dogecoin benefit from such immense popularity and become one of the most popular players in the crypto landscape. 

Therefore, community is important, and this also applies to the case of XRP. We have already seen this popularity, as represented by Ripple’s dealings with the SEC lawsuit. Its community was there to support Ripple and XRP. One important XRP enthusiast from this time was John Deaton, who played a crucial role in gathering more than 75,000 holders to support this case. The community contributed in various ways, including gathering testimonies, signing petitions, and utilizing social media campaigns to promote the positive aspects of XRP. 

The bottom line

XRP is an amazing digital coin which has started to thrive more than ever, as it has a prosperous environment to do so. Its role in the cross-border ecosystem is truly important, and it has the power to revolutionize global transactions, working alongside banks rather than replacing them. 

Besides offering real-world utility, XRP is also thankful to the community it has managed to gather.