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 / Bitcoin.com - 3 hours ago
Tesla and Spacex CEO Elon Musk addressed XRP and cryptocurrency during a town hall in Pittsburgh, acknowledging crypto’s potential amid regulatory scrutiny. Musk emphasized that cryptocurrency plays a crucial role in promoting individual freed...
Bitcoin News / Bitcoin.com - 5 hours ago
Ripple’s chief legal officer has highlighted two potential outcomes for the U.S. Securities and Exchange Commission (SEC)’s appeal in the Ripple lawsuit over XRP. He explained the SEC’s best-case scenario and noted that Ripple...
Bitcoin News / Google News Bitcoin - 6 hours ago
XRP Shows Weakest Performance in Top 10, Unless This Happens, Biggest Bitcoin (BTC) Breakout of 2024 Is in, Solana (SOL) Explodes Above $165: Is $200 Next?& & U.Today
Bitcoin News / Bitcoinist - 8 hours ago
On-chain data shows the XRP network has seen a burst of activity and address creation recently, something that could turn out to be a bullish signal.
XRP Active Addresses & Network Growth Have Both Spiked Recently
According to data from the on-ch...
Bitcoin News / Bitcoinist - 9 hours ago
Ripple Labs co-founder Chris Larsen has significantly increased his backing of Democratic presidential nominee Kamala Harris, making headlines with substantial donations over the past month.Β
In a recent announcement, Larsen disclosed a $10 million d...
Bitcoin News / Bitcoinist - 11 hours ago
The crypto market is a highly speculative community. A lot of what-if scenarios are constantly thrown at the wall as investors wonder βwhat could beβ for their favorite cryptocurrencies. This time, the question is, βHow high will the Shiba Inu price...
Bitcoin News / Bitcoin.com - 11 hours ago
Chris Larsen, a well-known figure in the world of American business and angel investing, is making headlines once again. This time, the co-founder of multiple Silicon Valley tech ventures, including Ripple, has pledged a whopping $10 million to suppo...
Bitcoin News / Bitcoinist - 11 hours ago
Popular altcoin XRP is gaining traction in the crypto market as the digital asset continues to attract bold predictions from inspired crypto enthusiasts following a recent price recovery due to a general market rebound and strong investor sentiment....
by COINS NEWS - 12 hours ago
Chris Larsen announced on the social media platform X. submitted by /u/Silver-Maximum9190 [link] [comments]
Bitcoin News / Bitcoinist - 17 hours ago
As the XRP price shows signs of recovery, a new contender, RCO Finance (RCOF), emerges as a potential game-changer in the DeFi space.Β
With predictions of a staggering 2,000% ROI, RCOF could surpass XRP’s growth, making it an attractive investm...
Bitcoin News / Bitcoinist - 20 hours ago
Elon Musk, CEO of Tesla and SpaceX, directly mentioned XRP for the first time during a Town Hall meeting in Pittsburgh, Pennsylvania. The dialogue unfolded when an attendee, seemingly a supporter, asked Musk: “Do you envision the XRP Ledger bei...
Bitcoin News / Bitcoin.com - 2 days ago
Ripple’s legal chief has reaffirmed that the core ruling declaring XRP not a security remains intact despite the appeal by the U.S. Securities and Exchange Commission (SEC). The regulator’s move challenges several other aspects of the J...
Bitcoin News / Bitcoinist - 3 days ago
DeFi ecosystem expert has given an eye-opening investment alert that could help you make millions of dollars if you take early action. This expert has predicted the ETFSwap (ETFS) price to make a meteoric 20,700% rally from its current presale price...
Bitcoin News / Bitcoinist - 3 days ago
A prominent crypto analyst has sparked a thought-provoking debate on social media platform X, suggesting that the Dogecoin price may mirror XRPβs performance during the previous bull market.Β
While most major cryptocurrencies surged to new all-time h...
Bitcoin News / Google News Bitcoin - 3 days ago
XRP to Dodge Death Cross? Bitcoin (BTC) $70,000 Mark Close But There's a Problem, Massive Dogecoin (DOGE) Breakthrough in Progress& & U.Today
Bitcoin News / Bitcoinist - 3 days ago
While past Shiba Inu and XRP price surges have made the tokens a darling to most crypto investors, a new AI token has emerged and has already seen a significant price surge in its ongoing presale.
With its innovative features and potential for explos...
Bitcoin News / Bitcoin.com - 4 days ago
The U.S. Securities and Exchange Commission (SEC) has officially appealed the XRP ruling by Judge Analisa Torres, reigniting the legal battle over whether XRP sales on crypto exchanges qualify as securities. The regulator challenges key aspects of th...
Bitcoin News / Bitcoinist - 5 days ago
A political action committee supporting former President Donald Trump has raised approximately $7.5 million in crypto donations since early June, according to a recent filing with the Federal Election Commission. The Trump 47 joint fundraising commit...