Ripple (XRP)

This is a source of contention but the short answer is yes. However, there is still a perceived centralization aspect. XRP operates on its decentralized, open-source blockchain known as the XRP ledger (XRPL), and transactions are facilitated by the Ripple transaction protocol (RTXP). Ripple owns and controls roughly 3% of the nodes however node ownership doesn't mean any voting control. UNL control the voting power which up until recently Ripple held the most of any other single entity.

The classification of XRP as a security is a matter of ongoing legal dispute in the United States. The Securities and Exchange Commission (SEC) filed a lawsuit back in December 2020 against Ripple Labs Inc which is yet to be ruled on. In most other countries across the world, such as the UK, local regulators have ruled that XRP is not a security.

“XRP to Hit $589” - is a common thing you may have heard of. It relates to a meme / viral image of Bart Simpson "predicting" XRP's future price action of $589. It was a joke/hoax that is often repeated. Such a price would put the XRP market cap at 20+ trillion. A very unlikely event. However, there is a belief amongst some investors that XRP / XRPL could replace traditional banking for cross-border payments and replace the SWIFT system. If this were to happen, it would increase demand by many magnitudes, but a $100+ XRP seems very unlikely.