CRO vs XRP compare

CRO vs XRP Comparison

Are you hesitating over which crypto to buy — CRO or XRP? This quick CRO vs XRP analysis provides an in-depth and easy-to-understand assessment of these tokens. 

CRO Overview

CRO is the token of Crypto.com, which was launched in June 2016 by K. Marszalek, R. Melo, G. Or, and B. Bao. They created this platform and the CRO blockchain to increase the speed of transactions and offer clients a way around traditional banking systems. 

Their proof-of-stake model was meant to facilitate trading on their website. Using this token, site users can stake their coins, become validators, and earn up to 12 percent interest. The token can also be used to pay fees on the site or earn cashback by using CRO to pay merchants.

CRO has performed very well recently, having reached a record high of $0.90 in November 2021. 

XRP Overview

The Ripple team created XRP as a solution to the notoriously slow SWIFT system and traditional banking systems. 

XRP uses a proprietary ledger instead of a blockchain, which is managed by the XRP community, with Ripple playing an active role. Independent validators confirm transactions, and anyone can be a validator, so long as they are part of the XRP community.

The fact that it uses a proprietary ledger has raised concerns among crypto users who prefer decentralized blockchains. However, that did not stop XRP from reaching $1.84 per token in the spring of 2021, and its all-time high of $3.37 per token in January 2018. 

Crypto.com Coin vs Ripple: Which Is Preferable?

Each of these tokens has its respective advantages and disadvantages. 

As earlier stated, CRO’s most significant advantage is that users can stake their tokens and collect on fees paid to Crypto.com. Another thing CRO has going for it is that the site issues a debit card that can be used to pay merchants in cryptocurrency. The issuance of these crypto-debit cards makes it much easier for crypto owners to use their coins as mediums of exchange for everyday items. 

One of the major disadvantages of CRO is that the exchange requires users to buy and stake the native token, which smacks of centralization. 

XRP also has several advantages. On the practical side, it is very fast, completing transactions in seconds, and it reduces costs by as much as 70 percent. Finally, several large institutions are using XRP, which helps to ensure its stability and increases its potential to grow in value over the years. 

The only con is that critics claim that XRP is centralized, which has resulted in civil litigation against the company. Ripple denied these accusations and repeatedly fought these lawsuits out in court. Still, these allegations have hampered its growth. 

A Quick Review of CRO vs. XRP Live Price

CRO’s price was very low relative to other coins before 2021, but it jumped significantly in the autumn of 2021 and has managed to retain some of its value despite recent declines. 

XRP has also not been very valuable relative to other coins and tokens, but the potential for significant growth is there, and perhaps that growth is starting now. For example, 2020 saw it steadily rise in value from $0.25 in the summer of 2020 to $0.75 in January 2022 — a 200 percent increase. 

Conclusion: CRO vs XRP

There is much to be said about Crypto.com Coin versus Ripple, but XRP looks to be a better long-term investment because it appears to have more institutional interest. Institutional interest means more potential for long-term growth. If CRO wants to stay relevant, it should attract more institutional investors.