Ripple has been one of the most popular cryptocurrencys for a long time. They have been on number 3 on Coinmarketcap for quite some time now and they were even on place 2 for a quick time surpassing the total market cap of Ethereum (ETH) after one of the biggest pumps we have seen in cryptocurrency. While there are a lot for supporters for the coin as the huge market cap suggests there are also a lot of critics of this currency.
The upside of Ripple
The purpose of Ripple is very easy: To create a cryptocurrency that allows for extremely cheap and fast transactions. This is why one of their big focuses is to cooperate with banks and create partnerships with them. They are pretty successful with achieving both of these goals with partnerships with a few very big banks like Santander and the Royal Bank of Canada and a very fast transaction time with 1500 transactions per second. For comparison the biggest cryptocurrency Bitcoin can only handle about 6 transactions per second.
The criticism of Ripple
While the things mentioned above are very good arguments for XRp there are still many critics of the cryptocurrency. What is criticized the most is that the currency is very centralized because 60% of the coins are owned by the founders. This is both against the fundamental principle of the origins of crypto which is a trustless and censorship resistent and it is also bad because it will caue inflation when the founders release their coins.
While I think that the criticism is valid I think that overall there is a place in most portfolios for a cryptocurrency like Ripple which is solely focused on the practical side of a currency. Even if currencys like Bitcoin fail there is still demand for payment processing which is why in this case banks could take advantage of the blockchain technology by using a currency like XRP.
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