x
XRP is designed to make cross-border transactions cheaper and faster.
Sending money cross-border the traditional way can incur fees between 5% and 7% of the total amount sent.
XRP has one of the best real-world use cases of any cryptocurrency.
When Satoshi Nakamoto mined the first Bitcoin block on Jan. 3, 2009, it was widely accepted as the first time a viable cryptocurrency had been created. Since then, there have been countless cryptocurrencies created, including XRP (CRYPTO: XRP), which was first launched in June 2012 and began trading on exchanges in August 2013.
Like virtually all cryptocurrencies, XRP has experienced extreme volatility since it began trading. Five years ago (using Sept. 10, 2020, as the starting date), XRP's price was $0.2435. Had you invested $10,000 in the coin at that time, your investment would be worth around $121,971 today at its price of $2.97 at the time of this writing.
Sending money from country to country is expensive if you go the traditional route because it typically has to go through several intermediaries. In some cases, fees could range between 5% to 7% of the total amount sent, meaning you could pay anywhere between $50 and $70 in fees for every $1,000 sent. That's a pretty sizable amount and adds up over time for people who routinely make these transactions.
XRP's main purpose at the moment is to make cross-border payments cheaper, faster, and more efficient. By acting as the neutral asset between two currencies (like the U.S. dollar and Brazilian real, for example), XRP can remove the intermediaries and complete these transactions in seconds, for a fraction of a cent.
Many cryptocurrencies appear to be no more than coins designed for a pump-and-dump scam to get their creators and early insiders rich. However, XRP has one of the best real-world use cases that we've seen from a cryptocurrency.
Before you buy stock in XRP, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and XRP wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $640,916!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,090,012!*
Now, it’s worth noting Stock Advisor’s total average return is 1,052% — a market-crushing outperformance compared to 188% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
