Ripple XRP, the rebellious one in the crypto world that people both love and hate.

A cross-border remittance can be completed in 3-5 seconds, with costs so low they are almost negligible, but the debates about "centralization" and "identity" have never stopped in the crypto world.

"This is the coin in the crypto world that looks the least like a 'coin.'" An old player commented this way about Ripple (XRP). It was born in 2012 and developed by Ripple Labs.

While Bitcoin pursues the ideal of decentralization and Ethereum builds a new world of smart contracts, Ripple has chosen a completely different path: it has turned around and warmly embraced the traditional financial system that was once viewed as the "old world" by Bitcoin.

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01 King of Technology: A Lightning-Fast Payment Network

The core appeal of Ripple comes primarily from its crushing-level technical performance. In the finance world where efficiency is paramount, speed is money.

According to official data from Ripple, the XRP network can process up to 1500 transactions per second (TPS). To give you a sense of this number, you can see the comparison below:

• Ripple (XRP): Processing speed 1,500 TPS, settlement time 3-5 seconds
• Bitcoin (BTC): Processing speed 7 TPS, settlement time 10-60 minutes
• Ethereum (ETH): Processing speed 15-30 TPS, settlement time approximately 15 seconds

This means that an international remittance through the XRP network can be confirmed and credited in just 3 to 5 seconds, while traditional banking systems via SWIFT may take several days.

02 Cost Killer: Almost Free Cross-Border Transactions

In addition to being fast, another feature that makes traditional financial institutions' hearts race is its low cost. The average transaction fee on the Ripple network is only $0.0002.

Compared to the dozens of dollars in fees and hidden exchange rate losses associated with traditional cross-border remittances, this cost is almost negligible.

The "on-demand liquidity" solution launched by Ripple allows financial institutions to use XRP as a bridge currency for real-time settlements without the need to pre-fund large amounts of capital in the target market, greatly enhancing capital efficiency.

03 Pragmatists: Dancing with Banks in the Crypto World

Unlike most crypto assets, Ripple has had a clear and pragmatic goal since its inception: to improve the existing cross-border payment systems rather than overthrow them.

As of now, more than 400 financial institutions worldwide have adopted Ripple's technology, including well-known banks such as MUFG Bank and Standard Chartered Bank. Ripple is building a global payment network called RippleNet, providing cross-border payment solutions.

This strategy of "embracing regulation and serving institutions" makes Ripple appear somewhat unconventional in the crypto world, and it has even been criticized for being "too centralized."

04 Identity Crisis: Security or Digital Asset?

The most dramatic chapter in the development of Ripple is the years-long legal battle with the U.S. Securities and Exchange Commission (SEC).

In 2020, the SEC sued Ripple Labs, accusing it of conducting an unregistered securities offering by selling XRP. This lawsuit led many U.S. exchanges to temporarily delist XRP, and its price was severely impacted.

A turning point occurred in August 2025 when Ripple reached a settlement with the SEC. The key outcome is that XRP is classified as a "digital asset" rather than a security. This decision cleared legal uncertainties for XRP in the United States and paved the way for its relisting on major exchanges and institutional adoption.

05 The Battle of the Future: Challenging SWIFT's Ambitions

Ripple CEO Brad Garlinghouse has publicly stated that the goal of the Ripple ecosystem is to take market share in international payments from the existing SWIFT network.

SWIFT, as a global interbank communication system that has been in operation for decades, handles most of the cross-border payments worldwide, but it has also been criticized for its slow speed and high costs.

Ripple's solutions enable banks to make near-instant, around-the-clock payments, allowing customers to pay individuals or businesses in over 90 markets worldwide using stablecoins or local currencies. If this vision can be realized, XRP will transition from a purely speculative asset to a payment tool with practical use.

06 Controversies and Challenges: The "Contradictory Complex" of the Crypto World

Despite its bright prospects, Ripple remains one of the most controversial assets in the crypto world. Some admire its pragmatism and technical advantages, while others question the purity of its "decentralization."

The sharpest criticisms focus on the issue of centralization. Unlike other major cryptocurrencies, Ripple Labs holds a significant amount of pre-issued XRP (over half of the total supply of 100 billion coins is controlled by the company) and has a certain influence over the validating nodes.

In addition, although it is technically possible to process 1,500 transactions per second, some analyses indicate that it is still unclear whether the actual usage of XRP in international payments can truly pose a substantial threat to SWIFT. Moreover, the competition in this field is fierce, and the transaction processing capabilities of some emerging blockchain networks have already surpassed Ripple.

07 Market Sentiment: From Frenzy to Calm Investors

Unlike the frenzy of investors towards XRP during the bull market in 2017, the market sentiment in 2025 is more complex and calm. Data analysis shows that long-term XRP holders have shifted from the "euphoria-greed" range to the "belief-denial" stage.

This shift in sentiment reflects the market's contradictory attitude towards XRP: while recognizing its technological advantages and reduced legal risks, there is a cautious stance regarding its ability to replicate past glories.

Especially, the trading pair of XRP against Bitcoin is still about 90% lower than its peak in 2017, showing that the challenges faced by XRP in the increasingly competitive crypto market should not be underestimated.

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Currently, 11 companies, including BlackRock, have submitted applications for a spot XRP ETF. If approved, these ETFs could act as a gateway, potentially bringing billions of dollars into traditional financial markets for XRP.

At the same time, Ripple is transforming from a pure payment technology company into a "comprehensive financial services group" through a series of acquisitions.

The future of XRP still wanders between hate and love, struggling in the gap between the old world and the new world. It may never become a totem of faith like Bitcoin; but it is very likely to become a bridge, a truly practical bridge connecting the crypto world and traditional finance. $SOL #加密市场小幅回暖