Ripple (XRP) is one of the most popular cryptocurrencies in the market today. Officially called just XRP, the cryptocurrency was developed by the California-based technology company Ripple Labs. Ripple (XRP) is built for very high-speed and low-cost transactions across national borders, and competes directly with international bank transfer systems like SWIFT. The clear benefit of transacting with Ripple (XRP) is the speed, with one transaction usually taking only a few seconds to go through.
Many forex brokers are happy to accept Ripple XRP since the transfers can be made so quickly and at an extremely low cost. However, high price volatility of XRP may pose challenges for traders who want to fund a trading account with this cryptocurrency. Over the past few years, the cryptocurrency has experienced huge price swings relative to US dollars.