XRP (XRP) And Stellar (XLM) Price Analysis – 28 October 2021

Josh Olszewicz, a prominent crypto market analyst looks into the price action of two payment networks’ native tokens XRP (XRP) and Stellar (XLM).

XRP (XRP)

Rippleis a privately-held fintech company that provides a global payment solution via its patented payment network called Ripple Network (also known as RippleNet). RippleNet is a payment network that is built on top of Ripple’s consensus ledger, called XRP Ledger (also known as XRPL). Ripple funded the development of the open-source XRP Ledger.

Unlike most cryptocurrencies out there that cater to peer-to-peer needs, Ripple was made to connect banks, payment providers anddigital asset exchanges, enabling real-time settlement expeditions and lower transaction fees.

XRP is the native token and the ticker symbol of the XRP Ledger.

Stellar (XLM)

The Stellar network is an open source, distributed, and community owned network used to facilitate cross-asset transfers of value. Stellar aims to help facilitate cross-asset transfer of value at a fraction of a penny while aiming to be an open financial system that gives people of all income levels access to low-cost financial services. Stellar can handle exchanges between fiat-based currencies and between cryptocurrencies. Stellar.org, the organization that supports Stellar, is centralized like XRP and meant to handle cross platform transactions and micro transactions like XRP. However, unlike Ripple, Stellar.org is non-profit and their platform itself is open source and decentralized.

Stellar was founded by Jed McCaleb in 2014. Jed McCaleb is also the founder of Mt. Gox and co-founder of Ripple, launched the network system Stellar with former lawyer Joyce Kim. Stellar is also a payment technology that aims to connect financial institutions and drastically reduce the cost and time required for cross-border transfers. In fact, both payment networks used the same protocol initially.

Through the use of its intermediary currency Lumens (XLM), a user can send any currency that they own to anyone else in a different currency.