Ripple (XRP) is making a name for itself as one of the most relevant cryptocurrencies in the market today.
With a current market cap of almost $12 billion, it is the third-largest cryptocurrency by market value.
Rather than simply being used for speculative trading, it has a practical use too, with many big financial firms using XRP for their international payments.
It’s no surprise then that several subreddits have been created with a focus on all things related to Ripple.
What is XRP?
XRP is the cryptocurrency used by the Ripple payment network, which was created to speed up the transfer of money between institutions.
Ripple connects banks, payment providers, and digital asset exchanges via RippleNet to provide a frictionless experience when sending money globally.
XRP is the fastest and most scalable digital asset, enabling real-time payments anywhere in the world. Banks can source liquidity on demand in real time without having to pre-fund nostro accounts.
Payment providers use XRP to expand their reach into new markets, lower foreign exchange costs, and provide faster payment settlement services.
XRP can be sent to anyone in the world virtually instantly for a low fee, but you can also hold on to it as an investment, sell it, or convert it into Bitcoin.
XRP on Reddit
Reddit is a social news aggregation and discussion website which is fast becoming one of the most useful websites for cryptocurrency supporters to share information with one another.
Dubbed “the front page of the internet”, it is home to an array of cryptocurrency communities, enabling newcomers, experienced traders, and miners to find out the latest market news, get trading tips, and receive guidance from their peers.
It’s particularly useful if you want to find out information about coins other than Bitcoin, which tends to be the focus of the mainstream media.
There are lots of forums dedicated to Ripple (XRP), ensuring you can stay on top of its price movements, adoption, and latest developments.
Subreddits explained
Subreddits are like individual forums devoted to a particular topic. All subreddit names begin with a lowercase “r” followed by a slash, then the name of the subreddit. Each subreddit is hosted by a moderator and has its own rules regarding posts.
Members can essentially decide what is newsworthy by posting links and information. Users then vote on these posts, and the ones with the most votes rise to the top.
Once you’ve found a subreddit you like, click on “join” and posts from that subreddit will appear on your Reddit homepage.
Three popular XRP subreddits you might want to consider following are:
r/Ripple
This is by far the most popular XRP subreddit with an impressive 207,000 members. The forum lets you discuss anything about Ripple and XRP.
The rules note that all posts, articles, and videos must be related to Ripple, XRP, or any projects and businesses related to Ripple/XRP. Altcoin discussions and comparisons belong in r/XRP and r/cryptocurrency.
The subreddit contains lots of useful links, including a YouTube video explaining what Ripple is, a beginner’s guide, and how to buy XRP. There are also links to the official Ripple website, cryptocurrency exchanges, wallets, and charts.
r/XRP
With 38,690 members, this subreddit is also dedicated to all things Ripple/XRP, with a heavier focus on price. Trading XRP is not permitted, although a few technical analysis-type posts are allowed as long as they’re of good quality.
There is a list of 10 rules members have to follow, such as treating everyone with dignity and respect and not posting fake news.
There is also a link to an official Discord channel dedicated to r/XRP, which aims to foster a more relaxed environment.
r/RippleTalk
With 8,600 members, this subreddit describes itself as the home of the latest free and open Ripple news, discussions, and much more.
The majority of posts are to external news sites or Twitter feeds, which talk about the latest banks and corporations that have adopted Ripple, price movements, and predictions.
The subreddit is helpful if you have any technical problems you can’t solve yourself or need general support from the community.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.