Comprehensive Guide to Buying Ripple (XRP) Easily
Intro
When it comes to investing in cryptocurrencies, Ripple (XRP) often stands out for its unique structure and potential. Understanding how to effectively purchase Ripple can feel daunting, especially for those who are new to the crypto scene. This guide aims to demystify the purchasing process, providing an organized roadmap for investors at all levels of experience.
In the ever-evolving world of crypto, being informed is key. Knowing where to buy Ripple—and the nuances associated with different platforms—can significantly impact your investment experience. By the end of this article, readers should not only feel equipped to make informed decisions but also understand the broader landscape of cryptocurrency investing.
Investment Products Overview
Definition of Investment Products
Investment products can be understood as financial instruments available for investment. These products can range from stocks and bonds to real estate and, in more recent years, cryptocurrencies like Ripple. Investment products typically allow individuals to grow their wealth, although they come with varying degrees of risk and return.
Types of Investment Products
While traditional investment products have been around for ages, the digital landscape has introduced several new alternatives. Here are some key categories:
- Equities: Shares of companies that can be traded on stock exchanges.
- Fixed-Income Securities: Bonds and similar instruments that provide a fixed return over time.
- Real Estate Investment Trusts (REITs): Companies that own income-producing real estate which are traded similarly to stocks.
- Cryptocurrencies: Digital currencies that utilize cryptography for security, with Ripple (XRP) as one of the prominent examples.
- Exchange-Traded Funds (ETFs): Funds that are traded on exchanges, holding different assets to track indexes or commodities.
For cryptocurrency enthusiasts, the rise of digital currency has opened up new avenues for investment and trading.
Comprehensive Investment Dictionary
Key Terms Explained
Understanding investment terminology is crucial for navigating the purchase of cryptocurrencies like Ripple. Here's a look at some fundamental terms:
- Blockchain: A decentralized digital ledger that records transactions across many computers.
- Wallet: A digital tool that allows users to store and manage their cryptocurrencies.
- Exchange: A platform where buyers and sellers can trade cryptocurrencies.
- Fiat Currency: Government-issued currency that is not backed by a physical commodity.
Glossary of Financial Terms
For investors, here's a quick glossary of essential terms:
- Liquidity: The ease with which an asset can be converted into cash.
- Market Capitalization: The total value of a company's outstanding shares, calculated by multiplying the share price by the total number of outstanding shares.
- Volatility: The degree of variation in trading prices over time, indicating the risk level involved.
By familiarizing oneself with these terms, investors can better navigate discussions and make informed decisions.
"Knowledge is power, especially in the world of investments. The more you know, the better choices you can make."
As we move forward, this guide will continue to peel back the layers of purchasing Ripple, helping readers understand where to find the best platforms and what specific steps to take.
Understanding Ripple and Its Value
Navigating the turbulent waters of cryptocurrency requires a solid grasp of the underlying assets involved. In this context, understanding Ripple and its value becomes critical for anyone looking to engage in this market. Ripple is more than just a digital currency; it represents a unique financial ecosystem. This section dives into its definitions, significance, and how it plays a pivotal role in modern transactions.
What is Ripple?
Ripple is a digital payment protocol that aims to facilitate real-time, cross-border transactions with minimal fees. Unlike traditional banking systems, which can take days to process payments, Ripple utilizes blockchain technology to enable near-instant transactions. Think of Ripple as not just a coin but a bridge across various currencies. Its distinctive features lie in its ability to maintain high levels of security while operating at a rapid pace. While often confused with XRP, which serves as the native cryptocurrency, Ripple refers more broadly to the technology behind these transactions.
The Role of XRP in the Ripple Network
XRP serves as the fuel for the Ripple network. It enables liquidity for exchanges and acts as a bridge between different fiat currencies, allowing users to transfer value without having to resort to traditional banking methods. The role of XRP can be likened to a universal translator in a multilingual conversation; it simplifies and streamlines the exchange process. Moreover, XRP transactions require a small fee paid in XRP, ensuring the network remains sustainable. The combination of speed, security, and low costs makes XRP an integral element within Ripple, catering to banks and financial institutions looking to improve their transaction processes.
Current Market Trends for XRP
Recent market trends show a growing interest in financial technologies that streamline traditional banking. XRP has not been immune to the fluctuations characteristic of cryptocurrency markets. However, certain patterns have emerged:
- Increased Adoption: More financial institutions are exploring how Ripple can optimize their international payment systems, leading to a higher demand for XRP.
- Price Variations: Like all cryptocurrencies, XRP experiences volatile price movements. Traders need to keep a close eye on market news and developments that may influence XRP’s value.
- Regulatory Scrutiny: The legal status of XRP remains under discussion, especially in relation to the ongoing SEC lawsuit. Investors need to stay informed about legal outcomes which may have lasting implications on XRP’s market presence.
"Understanding the dynamics of both Ripple as a technology and XRP as a currency is essential for any cryptocurrency investor."
As a financial enthusiast, being astutely aware of these factors not only shapes your investment strategy but also enhances your overall knowledge and confidence in making informed financial decisions. This ensures you are not just riding the waves of volatility but crafting your own path through the digital currency landscape.
Choosing the Right Platform for Purchase
Selecting the appropriate platform to buy Ripple is critical for both novice investors dipping their toes into cryptocurrency and seasoned traders looking to diversify their portfolios. The platform you choose can greatly impact your buying experience, security, and your long-term investment strategy. So, what do you need to consider?
Firstly, it's about reliability. Amidst all the noise in the crypto space, you want to be sure that you're aligning yourself with a provider that has a solid reputation. Check reviews and speak to others in the community. A few bad apples can spoil the whole barrel, so make an informed choice.
There’s also user experience to think about; you want a platform that’s easy to navigate. The last thing you need is to be caught scratching your head, unsure of how to buy Ripple when the market takes a turn. Customer support can’t be overlooked either. If something goes awry, you want to ensure there's a helping hand at the other end of the line.
Lastly, remember to consider fees. Different platforms have varying fee structures, which can influence your total investment cost and potential return. Being methodical in your approach can help you dodge several pitfalls on your journey into the world of Ripple.
It's pivotal to research and select a platform that not only offers favorable trading conditions but also aligns with your personal trading style and investment strategy.
Cryptocurrency Exchanges
Cryptocurrency exchanges serve as the main avenues for trading Ripple. These platforms facilitate transactions between buyers and sellers, functioning similarly to traditional stock exchanges. Popular ones include Binance and Coinbase, each coming with its own set of advantages and drawbacks.
Advantages of Exchanges:
- Variety of Options: Many exchanges offer a plethora of cryptocurrency options, giving you flexibility in your trading.
- Liquidity: Established exchanges often have high liquidity, allowing for quicker trades.
- Advanced Tools: If you’re into analytics, exchange platforms usually present advanced trading tools to help make informed decisions.
Drawbacks:
- Security Risks: While many are secure, breaches happen. It’s vital to conduct due diligence.
- Complicated Interfaces: Some exchanges might intimidate new users with complex interface and processes.
Peer-to-Peer Platforms
Peer-to-peer (P2P) platforms connect buyers and sellers directly, cutting out the middleman. Platforms like LocalBitcoins or Paxful are often the go-to choices. These can be beneficial for those looking for localized transactions.
Advantages of P2P Platforms:
- Convenience: Flexibility in payment methods—think cash, bank transfers, or even PayPal.
- Privacy: They tend to offer more privacy as you interact directly with the other party.
- User Control: You can negotiate prices and terms without much interference.
Considerations:
- Counterparty Risk: Always assess the reputation of the person you’re dealing with; bad actors can appear.
- Limited Support: These platforms may not offer extensive customer support in case of disputes.
Brokerage Services
Brokerage services, like eToro and Robinhood, simplify the process for users who may not have the time or expertise to trade on traditional exchanges. They act as intermediaries, handling orders on behalf of the investors.
Advantages of Brokerage Services:
- Simplicity: User-friendly interfaces can make buying Ripple straightforward, even for beginners.
- Educational Resources: Many brokerages provide resources to help you understand market trends and trading strategies, which can enhance your skill set.
- Fractional Purchases: Some brokers allow buying fractions of Ripple, making it easier to start investing.
Drawbacks:
- Higher Fees: You might end up paying more in fees compared to using exchanges, which could affect long-term ROI.
- Fewer Options: Unlike exchanges, brokerages may offer limited cryptocurrencies, so you might not find everything you want to invest in.
Evaluating Cryptocurrency Exchanges
When it comes to buying Ripple (XRP), the exchange you choose to purchase from can make a significant difference in your overall experience. Evaluating cryptocurrency exchanges requires a keen eye for several key factors, including liquidity, user interface, and supported payment methods. For investors, understanding these aspects is essential to ensure smooth transactions, minimize risks, and optimize the overall buying process.
Liquidity and Trade Volume
Liquidity refers to how easily an asset can be bought or sold in the market without affecting its price. When evaluating exchanges, it's crucial to consider their liquidity. High liquidity means that there are a significant number of buyers and sellers, allowing for quicker transactions and tighter spreads. For Ripple investors, this can translate to better prices and less waiting time when executing trades.
Factors influencing liquidity include:
- Trading Volume: Look for exchanges that consistently report high trading volumes for XRP. A higher volume typically corresponds to better liquidity.
- Order Book Depth: Examine the depth of the order book, which reflects the number of buy and sell orders at various price levels. A deeper order book means more liquidity.
- Market Presence: Established exchanges, such as Binance and Coinbase, often naturally attract higher liquidity due to their reputation and user base, improving your trading experience.
User Interface and Experience
Navigating through an exchange shouldn't feel like deciphering an ancient script. A user-friendly interface enhances your experience dramatically. When evaluating exchanges, it’s vital to find a platform that balances functionality with intuitive design.
Key aspects to consider include:
- Ease of Use: Check if the platform has a clean layout, clear menus, and a logical flow to guide you through buying XRP. A complicated interface can lead to confusion and costly mistakes.
- Mobile Compatibility: Given the rise of trading on-the-go, ensure that the exchange has a robust mobile application. This allows you to trade XRP whenever necessary without the hassle of hunting for your laptop.
- Customer Support: Evaluate the quality of customer support on offer. Quick, helpful responses can save you significant grief, especially if you encounter issues during a purchase.
"A confusing platform can turn potential profits into a learning experience you never asked for. Simplify wherever possible."
Supported Payment Methods
Your ability to purchase Ripple largely depends on the payment methods supported by the exchange. Evaluating this factor helps you determine how quickly you can fund your account and start trading. Different exchanges offer a variety of options, including:
- Bank Transfers: Commonly supported, but can take a few days to process.
- Credit/Debit Cards: Usually faster and often comes with higher fees, but some investors find the convenience worth it.
- Cryptocurrency Deposits: If you already own another cryptocurrency, some exchanges allow you to trade it for XRP, often with lower fees than fiat methods.
When selecting an exchange, it’s essential to ensure that their supported payment methods align with your preferences and timelines. For instance, if you aim to make a quick buy, options like credit cards might be more suitable than a bank transfer.
Taking the time to evaluate cryptocurrency exchanges using these factors can empower you to make informed decisions about where to buy Ripple, enhancing both your trading success and your overall experience.
Step-by-Step Purchase Process
When it comes to buying Ripple, having a systematic approach can save you from a heap of potential headaches. The Step-by-Step Purchase Process lays down a clear pathway, helping both seasoned investors and newcomers navigate through the maze of purchasing cryptocurrencies. This methodical pathway not only simplifies the buying process but also ensures that you take the necessary precautions to secure your investments. By making each step explicit, it fosters better understanding, reduces uncertainty, and encourages informed decisions.
Creating an Account
Creating an account on a cryptocurrency exchange is the very first move on your journey to owning Ripple. It’s like opening a bank account but in the digital realm. Most exchanges require you to share some personal information, like your email address and phone number.
When registering, it's crucial to use a robust password, perhaps a mix that even your grandma wouldn't guess. Keep in mind, each platform has its quirks in account setup. Some might ask you to verify your email right away, while others’ll make you jump through a few hoops later. It's about building a secure profile that will safeguard your investments down the road.
Verifying Your Identity
Verification often feels like a bureaucratic nightmare, but it’s quite essential. Most exchanges nowadays follow strict Know Your Customer (KYC) regulations. This means you will have to provide some form of ID, like a driver’s license or passport, to confirm your identity.
Why do they need this? Well, they’re trying to keep the bad apples out of the basket. Verification helps to prevent fraud and money laundering and also protects you, the investor. Don’t skimp on this step, as skipping verification could lead to your account being frozen or, worse, your funds could potentially vanish into thin air.
Depositing Funds
Once you're verified, it’s time to load your account with some funds. Most exchanges offer multiple ways to fund your account, including bank transfers, credit cards, and even cryptocurrencies.
But hold your horses! Make sure to check for fees. Some methods might be costly, eating into your investment before you even buy a single XRP. Look for exchanges that offer low fees or even zero fee deposits. Consider using a method that suits your financial habits and the urgency of your purchase—if you need the funds quick, a debit card may serve you better, while bank transfers could save you a buck or two in fees.
Executing the Purchase
Once your funds are in, the real fun begins. Executing the purchase of XRP can be as simple as clicking a few buttons on your screen. Most exchanges provide an interface that allows you to enter the amount of XRP you'd like to buy along with the price at which you're comfortable purchasing it.
But here's a tip: market prices can fluctuate more than a tightrope walker with a bad case of vertigo. Consider using limit orders to ensure you don't buy at an undesirably high price. A limit order lets you set the maximum price you’re willing to pay, protecting you against sudden jumps in price.
Transferring XRP to a Wallet
Once the purchase is finalized, the next step is to move your XRP into a wallet. This step is often overlooked but is absolutely crucial for your security. Leaving your cryptocurrency on an exchange is like keeping cash in an unlocked drawer—vulnerable to all sorts of risks.
To transfer XRP, you’ll need to set up a wallet first. There are software wallets, hardware wallets, and even paper wallets to choose from. Each has its advantages and trade-offs. When you’re ready to transfer, input your wallet address carefully—one wrong digit and your funds could be lost indefinitely.
Important: Always double-check wallet addresses before confirming any transaction. A tiny mistake can end in disappointment.
In summary, having a clear Step-by-Step Purchase Process when buying Ripple not only boosts your confidence but also fortifies your security in this volatile market. Each phase of this process is essential in maximizing the safety and benefits of your cryptocurrency investments.
Safety Measures When Buying Ripple
When purchasing Ripple (XRP), safety should be at the forefront of every investor's mind. With the rising interest in cryptocurrencies, the landscape has become a fertile ground for opportunistic fraud and security breaches. Appropriate measures not only help in safeguarding your investments but also instill confidence in your purchasing process. In this section, we'll delve into the specifics of selecting a secure exchange, implementing necessary protections, and ensuring that your XRP is stored away from prying eyes. Let's dig in deeply into these essentials.
Choosing a Secure Exchange
Not all exchanges are created equal. When choosing a platform to buy Ripple, opt for one that has a solid track record of security. Verify if the exchange uses encryption, as this greatly reduces the risk of information theft. It’s also wise to check whether they have been subject to security breaches in the past.
Key points to consider when evaluating an exchange include:
- Reputation: Look for reviews and feedback from users on forums like Reddit. A community can provide insights on the reliability of the exchange.
- Insurance: Some exchanges offer insurance for digital assets, which can provide peace of mind if there’s a breach.
- Regulations: A platform that adheres to regulatory standards is more likely to follow best practices in handling customer assets.
- Withdrawal Policies: Check withdrawal limits and how quickly you can withdraw your XRP. If the exchange imposes high limits, that could be a red flag.
You want to feel secure that your investment won’t vanish overnight. Besides these factors, consider exploring the Wikipedia page for Ripple) for understanding how Ripple functions and the exchanges that support it.
"One must always look both ways before crossing the road of investments."
Implementing Two-Factor Authentication
Once you’ve chosen a secure exchange, the next step is to bolster your account’s security. Two-Factor Authentication (2FA) is a must in today’s digital world. It adds an additional layer of protection, making it harder for unauthorized users to gain access to your account.
This process typically involves:
- Linking Your Phone: When funds or transactions are tied to your phone, it becomes more difficult for someone else to access your account.
- Using Apps: Consider utilizing apps like Google Authenticator or Authy rather than relying solely on SMS alerts. Notifications via apps are often considered more secure.
- Backup Codes: Most platforms provide backup codes when you set up 2FA. Store these codes securely; they can be lifesavers if you lose access to your authentication method.
Failing to implement 2FA can make your account susceptible to hacking attempts. In crypto investing, it's better to be safe than sorry.
Storing XRP Safely in Wallets
How you store your Ripple is just as important as how you buy it. While exchanges do provide wallets, they often aren't the safest option. To ensure that your XRP remains secure, consider using a wallet that gives you complete control over your private keys. There are two main types of wallets:
Hot Wallets
These are connected to the internet, making them user-friendly. They allow for quick access to your XRP but also make it easier for hackers to invade.
- Best for: Day traders and users needing frequent access.
- Examples: Exodus, Atomic Wallet.
Cold Wallets
These are offline wallets and provide enhanced security. They offer robust protection against hacking, which is critical for long-term investors.
- Best for: Investors looking to hold for an extended period.
- Examples: Ledger Nano X, Trezor.
In sum, when investing in Ripple, one must not only pay attention to the exchange but also how the investment gets protected post-purchase. Strong security measures can thwart most risks associated with cryptocurrency investing.
Long-Term Considerations for Ripple Investors
As the cryptocurrency landscape keeps changing like the wind, it's essential for investors to keep their eyes peeled on long-term considerations when it comes to Ripple. The volatile nature of markets demands that individuals approach their investments with a strategy, being prepared for fluctuations without losing their footing.
Understanding Market Volatility
Market volatility isn’t just a buzzword; it's the lay of the land in the world of cryptocurrencies like Ripple. What does this mean for you as an investor? Simply put, the value of XRP may shift dramatically in a short span. One day, the price could soar like a bird, and the next, it could plummet into the depths. This unpredictability stems from a myriad of factors:
- Market Sentiment: Emotional responses can drive prices up or down, often regardless of the actual utility of Ripple.
- Global Events: Political instability, regulatory news, or innovations in blockchain can create sudden surges or drops in prices.
- Speculation: Many folks still view cryptocurrencies as a great investment opportunity, leading to market bubbles that eventually burst.
Having a solid understanding of these elements helps steer clear of rash decisions. It's crucial to regularly research market trends and maintain a level-headed perspective, even in turbulent times.
Setting Investment Goals and Strategies
With Ripple's price bouncing around like a rubber ball, creating well-defined investment goals is pivotal. Without clear targets, even the savviest investors can drift like a ship without a sail. Think about what you want to achieve:
- Short-term Gains: If you're aiming for quick profits, plan to closely monitor price trends and know when to sell.
- Long-term Holdings: Investing with a long-term mindset requires patience and a hot cup of optimism. Buy in phases and reinvest profits as Ripple matures as a network.
- Diversification: Don't put all your coins in one basket. Spreading investments across different cryptocurrencies helps mitigate risks.
A well-thought-out strategy can help keep emotions in check, providing a road map for success even when things get rocky.
Regulatory Implications for Ripple
Another layer of complexity for Ripple investors is the regulatory landscape. What happens with regulations can make waves across the entire market, and Ripple is no exception. Here are some key points to ponder:
- Compliance and Legal Standing: Staying informed about Ripple's status with financial authorities is crucial. Regulatory issues can influence the price of XRP drastically.
- Geopolitical Factors: Different countries have varied regulations regarding cryptocurrencies. Be aware that what is permissible in one locale may be banned in another.
- Future Law Changes: As global acceptance of cryptocurrencies evolves, keeping abreast of potential regulations can help forecast Ripple's position in the market.
Understanding and adapting to these considerations can potentially save investors from nasty surprises down the line.
"Investing without understanding the landscape is like wandering in a maze without a map."
By treating these long-term considerations seriously, Ripple investors can navigate the complex waters of cryptocurrency investment with a clearer lens, prepared for the ebbs and flows to come.
Potential Pitfalls to Avoid
When engaging in the purchase of Ripple, or any cryptocurrency for that matter, it's paramount to steer clear of potential hazards that could undermine your investments. Recognizing these pitfalls can not only save you from financial losses but can also provide you with a clearer pathway to making sound decisions. By keeping these factors in mind, you fortify your arsenal against possible risks associated with the vibrant world of cryptocurrency.
Common Scams and Fraudulent Platforms
Navigating the crypto landscape can be akin to walking a tightrope, especially with the various scams lurking in the shadows. Phony exchanges and fraudulent platforms have made the rounds, tricking many unsuspecting investors.
Picture this: you stumble across a brand-new exchange boasting incredibly low fees and unrealistically high returns. Paints a pretty picture, doesn’t it? However, such allure often hides a nefarious motive—these platforms can vanish overnight, taking your investments with them. To avoid falling victim, always do your homework. Here are some steps to take:
- Research Background: Look for reviews on platforms like Reddit and social media. Check if others had any unfortunate experiences.
- Verify Registration: Ensure that the exchange is registered and compliant with regulatory bodies. This can lend some credibility to their operations.
- Watch for Red Flags: High promises of returns, shoddy website designs, and a lack of contact information can signal trouble.
Keeping a keen eye on these elements can help you distinguish between trustworthy and dubious platforms.
Misunderstanding Market Dynamics
Another common misstep among investors relates to a lack of understanding about how the market functions. Markets can be fickle beasts, driven by factors that often elude the average investor.
For instance, an investor might make a snap decision based on a sudden spike in XRP pricing, thinking it's going to skyrocket even higher. However, without understanding influences like regulatory news or technological updates in the Ripple network, these decisions can lead to significant losses. Here’s how to avoid this:
- Stay Informed: Regularly follow news related to Ripple and the broader cryptocurrency realm to grasp the dynamics at play.
- Learn the Basics: Familiarize yourself with key indicators such as trading volumes, market cap, and historical price movements.
- Emotional Detachment: Try to maintain a level-headed approach, making decisions based on data rather than hype or fear.
By comprehending the intricate web of market dynamics, you stand a better chance of maneuvering your investments wisely.
Overtrading and Emotional Investing
In the heat of the moment, investors often find themselves trapped by their emotions. Overtrading is a tempting pitfall, resulting from a mix of fear, greed, and frenzied excitement over price jumps.
When you’re firing off trades left and right, the chances of missing the mark increases significantly. It’s like trying to hit a bullseye with a blindfold on. Instead of making calculated moves, erratic trading can drain not only your account but also your mental clarity. To combat this:
- Set Limits: Establish clear buy or sell points beforehand, and adhere to them. Stick to your strategy without letting the market dictate your feelings.
- Avoid Overanalysis: While data is crucial, becoming engulfed by it can lead to paralysis by analysis. Know when to step back.
- Practice Mindfulness: Consciously check in with your emotional state. If you find yourself feeling overwhelmed, it may be best to take a break.
In the often turbulent waters of cryptocurrency, patience and strategy are your allies.
Remember: The cryptocurrency journey is as much a mental game as it is a financial one. Prepare yourself to navigate it wisely.
Culmination: Making Informed Decisions
Making informed decisions when it comes to buying Ripple is crucial for both new and experienced investors. The landscape of cryptocurrency is crowded and often tumultuous. With countless options available, it’s easy to get swept up in the noise. A thoughtful approach empowers investors to navigate this complex terrain effectively.
Summarizing Key Insights
Several key insights emerge when considering the purchase of Ripple. First and foremost, the choice of platform plays a vital role. Understanding the distinct types of platforms—such as cryptocurrency exchanges, peer-to-peer platforms, and brokerage services—helps investors select the method that aligns best with their needs. For instance, cryptocurrency exchanges often offer lower fees and higher liquidity, while brokerage services might appeal to those seeking simplicity and ease of use.
Next, staying informed about the market is essential. Prices can fluctuate widely, and knowing the current trends allows an investor to make more strategic decisions. Keep an eye on liquidity and trade volume as they are key indicators of a platform’s reliability. Moreover, understanding the regulatory landscape surrounding Ripple and cryptocurrency in general is another critical factor. Not only does it affect market trends, but it also determines the overall risk associated with investments in this space.
Finally, safety cannot be overstated. From using secure exchanges to implementing two-factor authentication, these steps are invaluable in protecting assets. A little vigilance goes a long way in minimizing risks and avoiding potential pitfalls.
The Importance of Ongoing Research
In the world of cryptocurrency, ongoing research is not just beneficial; it’s imperative. The market is dynamic and ever-evolving, influenced by various factors including technological advancements, regulatory changes, and market sentiment. Keeping up-to-date with these developments can provide a competitive edge.
Reading articles, participating in online forums like reddit.com, and engaging with financial news will help sharpen an investor’s insight. Understanding not only what is happening in the market but also why it’s happening will enhance decision-making capabilities.
Additionally, examining different perspectives, whether through financial analysis from trusted sources or insights shared by other investors on platforms such as facebook.com can broaden understanding. This is especially important when considering Ripple’s unique position among cryptocurrencies, given its different use case.
