XRP
Ripple is the catchall name for the cryptocurrency platform, the transactional protocol for which is actually XRP, in the same fashion as Ethereum is the name for the platform that facilitates trades in Ether. Like other cryptocurrencies, Ripple is built atop the idea of a distributed ledger network which requires various parties to participate in validating transactions, rather than any singular centralized authority. That facilitates transactions all over the world, and transfer fees are far cheaper than the likes of bitcoin. Unlike other cryptocurrencies, XRP transfers are effectively immediate, requiring no typical confirmation time.
Ripple was originally founded by a single company, Ripple Labs, and continues to be backed by it, rather than the larger network of developers that continue bitcoin’s development. It also doesn’t have a fluctuating amount of its currency in existence. Where bitcoin has a continually growing pool with an eventual maximum, and Ethereum theoretically has no limit, Ripple was created with all of its 100 billion XRP tokens right out of the gate. That number is maintained with no mining and most of the tokens are owned and held by Ripple Labs itself — around 60 billion at the latest count.
Even at the recently reduced value of around half a dollar per XRP, that means Ripple Labs is currently sitting on around $20 billion worth of the cryptocurrency (note: Ripple’s price crashed hard recently, and may be worth far less than $60 billion by time you read this). It holds 55 billion XRP in an escrow account, which allows it to sell up to a billion per month if it so chooses in order to fund new projects and acquisitions. Selling such an amount would likely have a drastic effect on the cryptocurrency’s value, and isn’t something Ripple Labs plans to do anytime soon.
In actuality, Ripple Labs is looking to leverage the technology behind XRP to allow for faster banking transactions around the world. While Bitcoin and other cryptocurrencies are built on the idea of separating financial transactions from the financial organizations of traditional currencies, Ripple is almost the opposite in every sense.
XRP by Ripple price can be found on this page alongside the market capitalization and additional stats.
Cryptocoins News / The Cointelegraph - 11 hours ago
Bitcoin and most major altcoins are struggling to hold on to their higher levels, indicating that the bears have not given up yet. After rising for four successive mo...
Cryptocoins News / The Cointelegraph - 12 hours ago
Bitcoin is about to close its worst-performing month since FTX collapsed, but a handful of altcoins posted noteworthy gains in May. The cryptocurrency market experienc...
Bitcoin News / Google News Bitcoin - 13 hours ago
Bitcoin played second fiddle as KAVA, XRP, TRX, RPL and RNDR led the crypto market in May& & Cointelegraph
by COINS NEWS - 1 day ago
Whales have been actively buying XRP, accumulating over 52 million tokens in just three weeks. https://twitter.com/ali_charts/status/1662215112659456000 Judge Torres recently rejected the SEC's motion to seal the Hinman documents, further...
Bitcoin News / Bitcoin.com - 1 day ago
XRP rallied to a six-week high in today’s session, as the token extended a recent bull run to a sixth day. Prices have risen by as much as 10% in that period, with the latest surge sending the cryptocurrency above $0.50. Solana was also higher...
Cryptocoins News / CoinJournal - 1 day ago
The US dollar trades with a bearish tone following the debt ceiling agreement
Ripple gained more than 8% in one week
The technical picture looks bullish as the $0.55 resistance level looms large
The dollar is under pressure after the over-the-week...
by COINS NEWS - 2 days ago
I’m Canadian, where should I keep my BTC, ETH and XRP now that Binance and NEXO are pulling out? So like the title says, I’ve been pretty happily keeping my BTC, ETH and XRP on Nexo. I liked the borrowing aspect of Nexo, but recently discovered that...
Cryptocoins News / The Cointelegraph - 2 days ago
The news of a tentative debt ceiling deal bolstered Bitcoin’s price above $28,000, but higher levels continue to attract selling from the bears. Bitcoin and the S&...
Cryptocoins News / The Cointelegraph - 3 days ago
BTC and stocks look to rally after US lawmakers potentially reach a deal on the debt ceiling. The United States looks to avoid a catastrophic debt default after the Wh...
by COINS NEWS - 4 days ago
Money_talk_tok is a Tiktokker with 56.5K followers https://preview.redd.it/r36dc4o2ce2b1.png?width=427&format=png&auto=webp&s=27a9fa7c09c886cb9fac73dbcc3bc80120273f15 Money_talk_tok announced on 24 February 2022 th...
Bitcoin News / Bitcoin.com - 4 days ago
One of Saturday’s biggest movers is XRP, which rose to a 30-day high earlier in today’s session. The token rose for a third consecutive day, as bulls returned to the market to start the weekend. Cardano was another notable gainer today....
Bitcoin News / Google News Bitcoin - 4 days ago
‘It’s A Big Deal’—Crypto Suddenly Braced For A Huge China Earthquake After Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana Price Swings& & Forbes
Cryptocoins News / The Cointelegraph - 5 days ago
The highly accessible introductory text mentions all the concepts and names a curious reader would need, along with some assessments. The Federal Reserve Bank of Atlan...
Cryptocoins News / The Cointelegraph - 5 days ago
The recovery in the U.S. stock market seems to have acted as a catalyst for the relief rally in Bitcoin and select altcoins. Bitcoin remains pinned below $27,000, and...