Ripple is a global payment network, and it allows any currency anywhere in the world to be transferred at an affordable cost in seconds. The goal of Ripple is to enable international money transfers in real time. Pat White, CEO of Bitwave, has said that Ripple was originally designed to replace SWIFT, which is a leading money transfer network, or to replace the consensus layer between major financial institutions. Ripple can facilitate exchanges for fiat currencies and cryptocurrencies such as Bitcoin. For example, a person or bank can convert TRY to XRP using Ripple and then send the XRP to a buyer.
XRP is up 6.34% in the last 24 hours. And XRP’s trading volume in all markets has increased by about 155% in the last 24 hours. The CFTC's classification of some tokens as a commodity in the lawsuit against a global crypto asset platform and the ongoing Ripple-SEC case claiming that XRP is a commodity, not a security, caused some expectations in the Ripple community. This development may have been instrumental in the rise of XRP.
