Ripple (XRP) Explained Simply 2022

A general video on What is Ripple (XRP) for Beginners. We talk about RippleNet, XRP Token, The Supply, Jed McCaleb, the SEC Lawsuit & more!

🙌 H E L P F U L L I N K S 🙌
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▶️ W A T C H N E X T ▶️

Timestamps:
0:00 - Starting Zone
0:46 - Format for Today’s Video
1:04 - What is RippleNet?
4:05 - What is XRP?
6:49 - The SEC Lawsuit vs Ripple
8:10 - Factors to Consider If You’re Thinking About Investing
9:51 - Where You Can Buy XRP
10:19 - Free Bitcoin + Stocks

1. What is RippleNet
RippleNet was created by Ripple Labs and is the network that aims to move money as quickly as information moves.

Created in 2012, the problem Ripple was looking to solve is a pretty common one if you've ever sent money to someone outside of your host country.

RippleNet wants to decentralize the current system through their "consensus protocol". In this protocol, there are nodes and validators that process and validate transactions.

They want it to have certain benefits:

- Real time settlement, so transactions take 3 seconds instead of 3-5 business days.
- Up to 1500 transactions per second across the netowrk, and the potential to scale even higher to match Visa's transactions per second of 65k. For context, Ethereum allows for about 20 transactions per second and Bitcoin runs at 4-5 transactions per second.
- They also want it to have virtually zero transaction fees.
- Also, since XRP the currency isn't mined - there are very little environmental concerns as well.

2. What is XRP
XRP is the token used for representing value on the Ripple Network. This article written by Bernard Marr on Forbes sums it up better than I could:

"XRP – which is the actual cryptocurrency – is a token which is used on the Ripple network to facilitate transfers of money between different currencies."

3. SEC Lawsuit
The SEC has alleged that XRP is not a currency but rather, a security.

Since XRP is not a currency that you can mine, the SEC has said that the Ripple co-founders raised capital to finance the companies business and exchange XRP for non-cash considerations.

Essentially what the SEC is saying is, Hey Ripple, you're treating XRP like a stock or equity in a company rather than a currency.... and because you are doing that, we have jurisdiction over it, and you should have registered it as a security.

That lawsuit was filed in December of 2020 and the result was that XRP was delisted off of major exchanges, including Coinbase.

4. Factors to Consider
1. Supply, SEC Lawsuit

2. Use Case is Really Strong for Ripple and XRP - with a lot of institutions using it now.

3. Lastly, you should consider the market right now - it's currently close to all time highs, do you expect it to stay this high, get higher? Do you believe in this coin for the long haul? Do you believe in it's mission?

📲SOCIALS:

😺 WHO AM I: I am not a cat. My name is Humphrey Yang, I've built multiple businesses and am passionate about Personal Finance, Investing, among other things! If you're trying to build a solid foundation of financial literacy, learn to invest, or become financially free - then I'm here for you!

PS: I am not a Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for.

#XRP

[humphrey]

After watching more videos and researching XRP, I realize I may have mis-stated some parts of this video. XRP and Ripple are much harder to understand than I originally understood. This video should still serve as a good starting point for learning about the general basics, but there is much more to settlement and payments that I did not cover in this video, and XRP is much more nuanced than I originally gave it credit for.

[jacklewismusic]

These videos explaining coins are absolute gold, please keep making these!!

[ThreeTwentyTech]

Love these kinda beginner videos as I'm still learning and need everything kinda dumbed down for me HAHA! 🤣

[ogheneroemavwodia]

Very professional presentation with a well balance view of critical analysis.
Thanks so much

[austinbeckd]

XRP has the most clear and effective utility.

[dusthat]

Fairly good explanation of XRP for the beginner. You pointed out the hundreds of banks are using XRP and the RippleNet. This point is why the SEC's claim XRP is a security is weak.

[ritvikyaduvanshi]

This video was like idiot proof explanation for XRP i absolutely loved it hope you keep making more of these 👍 great work you earned a subscriber today man

[investorsray]

*RICH PEOPLE PLAYS THE MONEY GAME TO WIN. POOR PEOPLE PLAYS THE MONEY GAME NOT TO LOSE. THE GOAL OF THE TRULY RICH PEOPLE IS TO HAVE MASSIVE WEALTH AND THE POOR SEES A SURPLUS AS AN OPPORTUNITY FOR CONSUMPTION INSTEAD OF INVESTING IT. CHANGE YOUR MINDSET AND DO WHAT THE RICH DOES, WHICH IS INVESTING, INVESTING AND INVESTING.*.

[blue]

you don't understand how great you are with explaining stuff Like thank you so much man
i am speed running ur videos right now cuz this channel has some amazing content
and the way you explain things makes it even better
Thanks

[matthewtaylor]

I recently quit stock trading and started trading bitcoin and crypto. Is it possible for one to make sustainable profit and how best can i go about it ?

[ryanlunde]

Happy HODLer of XRP!! I think you captured the questions well.

On Jed McCaleb — I think it’s pretty obvious that Jed is looking to dump the price action on XRP out of spite as well as to curry price action on Stellar. HOWEVER he recently bought a number of XRP tokens back… which would suggest that he’s anticipating price action 🚀🚀🚀

[jrichardsonel]

The most professionally done video to date

[kabil]

Great Video on the XRP. It is also available to purchase on BitMart using BTC, ETH, or USDT

[lw_frankie]

The other way to get XRP is to buy XLM then send it to an atomic wallet and convert that to XRP and when certain places relist you're able to send the xrp to your account.

[AK-hihm]

but what does it do, like what's the demand/ benefit for holding xrp tokens. example with ethereum if you wanna use any cool applications on the blockchain you need to burn eth, and people stake to secure the network. but what's the incentive to hold xrp besides price go up

[FrankChouFinance]

This is a great summary/intro for those unfamiliar with XRP. I cover it daily on my channel and Digital Perspectives is another fantastic resource for those interested in learning more.

[starrysloth]

converted my ETH to XRP couple of months back because of the low transfer fees (had to transfer out of Binance as it was banned in my country), I didn't know anything about XRP but was recommended by my friend to do so, thanks so much for this video, new subbie here! ♡

[Im_Oblivion]

This explains why the SEC filled a lawsuit on them. It’s basically wanting to get rid of fees and taking money from the governments. I didn’t know this about XRP cause I send money to Central America. And there’s fees and time. This is trying to make it instant like it should be

[simsimmauk]

Sold my XRP last year in December thank god.

[mrmkburke]

I am an RPH and MBA in finance. I hold XRP. NINTY percent of xrp volume is out side the US. XRP can be purchased on the Uphold exchange in the US. I purchased at an average price of $0.25. XRP will facilitate the international flow of money. XRP will go to $1000 in the next 5 years. Yes it will !!!