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.
Bitcoin News / Bitcoinist - 18 hours ago
In yesterday’s court filing opposing the US Securities and Exchange Commission’s (SEC) motion for remedies and final judgment, Ripple disclosed significant changes to its On-Demand Liquidity (ODL) operations in the United States. The filing cla...
Bitcoin News / Bitcoin.com - 1 day ago
Ripple Labs has filed its opposition to the request by the U.S. Securities and Exchange Commission (SEC) for the company to pay $2 billion in fines in the XRP case. “The SEC’s draconian remedial requests are ungrounded in law or pri...
Bitcoin News / Bitcoinist - 1 day ago
On-chain data shows the number of big money investors has gone up for XRP recently, something that could be bullish for the coin’s price.
XRP Holders With At Least 1 Million Tokens Are Back Near All-Time High
According to data from the on-chain...
Bitcoin News / Google News Bitcoin - 3 days ago
Bitcoin, Ethereum and XRP Price Prediction: Can we See Post-Halving Rally This Week?& & Coinpedia Fintech News
Bitcoin News / Bitcoinist - 6 days ago
Crypto analyst Javon Marks has laid out an ultra-bullish narrative for the XRP price, predicting that the crypto token’s price could increase exponentially to triple figures. The analyst also alluded to XRP’s historical price pattern to show that thi...
Bitcoin News / Bitcoinist - 6 days ago
Dogecoin and XRP have seen varying performances over the last few weeks, going from bullish to bearish. As the market progresses into the highly anticipated Bitcoin halving event, crypto analysts have begun to give their predictions for where the mar...
Bitcoin News / Bitcoinist - 6 days ago
The XRP lawsuit between Ripple Labs and the US Securities and Exchange Commission (SEC) over the status of XRP as a security is poised to escalate to the US Supreme Court. This anticipation has been reinforced by a recent ruling in the Coinbase case,...
Bitcoin News / Bitcoinist - 1 week ago
Ripple developers Aanchal Malhotra and Vito Tumas have introduced a ground-breaking proposal for a native lending protocol on the XRP Ledger (XRPL). If passed, this proposal is expected to expand the network’s decentralized finance (DeFi) capabilitie...
Bitcoin News / Bitcoinist - 1 week ago
In the world of cryptocurrency, where values soar and plunge unpredictably, David Schwartz, Ripple’s Chief Technology Officer, addresses community speculation about his wealth.
Ripple CTO: Clarification Amidst Confusion
The latest clarificatio...
Bitcoin News / Bitcoinist - 1 week ago
Cross-border payment company, Ripple has sent out an urgent message to XRP members and the broader cryptocurrency community. In its message, the payments firm warns about the risks associated with crypto scams and provides valuable information on how...
Bitcoin News / Bitcoinist - 1 week ago
John Deaton, a vocal advocate for XRP and broader cryptocurrency rights as well as current US Senate candidate, is reportedly considering involvement in Coinbase’s ongoing legal battle with the Securities and Exchange Commission (SEC). This new...
Bitcoin News / Bitcoinist - 1 week ago
Amidst the volatile landscape of cryptocurrency markets, Australian attorney Bill Morgan has voiced concerns about the action of XRP against notable crypto assets like BTC, noting an extreme decline in performance over time.
XRP Versus Bitcoin Plumme...
Bitcoin News / Google News Bitcoin - 1 week ago
Bitcoin (BTC) Price Crash, Shiba Inu (SHIB) Developments, Ripple (XRP) Forecasts: Bits Recap April 15& & CryptoPotato
Bitcoin News / Google News Bitcoin - 1 week ago
Bitcoin, Ethereum and XRP Price Prediction For This Week: Will Bears Dominate Halving Spree?& & Coinpedia Fintech News
Bitcoin News / Google News Bitcoin - 1 week ago
Israel-Iran War Fears Suddenly Spark $500 Billion Bitcoin And Crypto Price Crash—Hitting Ethereum, BNB, XRP ...& & Forbes
Bitcoin News / Bitcoinist - 1 week ago
John Deaton, a pro-XRP lawyer and crypto advocate, is running for a seat in the US Senate against Elizabeth Warren, known for her skepticism on cryptocurrencies, when US regulators are stepping up their enforcement actions and crackdowns on the crypt...
Bitcoin News / Bitcoinist - 1 week ago
Since the Spot Bitcoin Exchange-Traded Funds (ETFs) were approved, market experts have continued to give their opinions on the possibility of other crypto ETFs, such as an XRP ETF launching soon. Ripple’s CEO Brad Garlinghouse has now joined the conv...