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 - 2 hours ago
In a searing critique, John E. Deaton, a prominent legal advocate for XRP, has issued a forceful condemnation of SEC Chairman Gary Gensler, accusing him of undermining ethical standards and fostering an environment of deceit at the US Securities and...
Bitcoin News / Google News Bitcoin - 7 hours ago
$300 Billion 'Perfect Storm' Bitcoin Price Crash Under $60,000 Suddenly Accelerates As Ethereum, XRP And Crypto ...& & Forbes
Bitcoin News / Google News Bitcoin - 1 day ago
'Perfect Storm'—Bitcoin Price Now Braced For A Shock Fed Inflation Flip As Ethereum, XRP And Crypto Crash Back& & Forbes
Bitcoin News / Google News Bitcoin - 1 day ago
'Perfect Storm' Sparks Sudden Bitcoin Price Crash Under $60,000 As Ethereum, XRP And Crypto Brace For Shock Fed ...& & Forbes
Bitcoin News / Bitcoinist - 1 day ago
In a significant move that underscores Ripple Labs‘ global expansion strategy, the popular American-based payment firm and Hashkey DX – a subsidiary of Hashkey Group have formed a strategic alliance to launch enterprise solutions powered...
Cryptocoins News / CoinJournal - 1 day ago
Ripple partners with SBI Group & HashKey DX to introduce XRPL solutions in Japan.
HashKey DX to leverage XRPL’s features for innovative blockchain solutions in Japan.
SBI Group to pioneer the use of XRPL technology in supply chain manageme...
Bitcoin News / Bitcoinist - 1 day ago
In the XRP lawsuit, the Securities and Exchange Commission (SEC) has countered Ripple Labs’s recent motion to strike the declaration of SEC summary witness Andrea Fox. The agency’s filing asserts that the testimony is permissible as summary evi...
Bitcoin News / Bitcoinist - 4 days ago
Pro-XRP lawyer and crypto advocate John Deaton has filed an amicus brief supporting Coinbase’s motion to certify an interlocutory appeal in the exchange’s ongoing case with the US Securities and Exchange Commission (SEC). In this petition submitted t...
Bitcoin News / Google News Bitcoin - 5 days ago
Bitcoin’s Chop Continues, XRP Gains as Ripple v. SEC Trial Begins, and More: This Week’s Crypto...& & CryptoPotato
Bitcoin News / Bitcoinist - 1 week 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 week 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 week 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 - 1 week ago
Bitcoin, Ethereum and XRP Price Prediction: Can we See Post-Halving Rally This Week?& & Coinpedia Fintech News
Bitcoin News / Bitcoinist - 1 week 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 - 1 week 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 - 1 week 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 - 2 weeks 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...