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 / CoinJournal - 2 months ago
Ripple Payment services for US customers will soon go live.
Render’s (RNDR) network activity increased towards the end of 2023.
NuggetRush& presale continues to turn heads after selling 170 million tokens.
XRP will launch Ripple payment s...
Bitcoin News / Bitcoinist - 2 months ago
Fred Rispoli, senior managing partner at Hodl Law, has shared his updated view on the XRP lawsuit between Ripple and the US Securities and Exchange Commission (SEC) via X (formerly Twitter). This updated prediction comes after the SEC gained a partia...
Cryptocoins News / Blockchain - 2 months ago
Ripple's CTO David Schwartz emphasizes his cybersecurity savvy, responding to phishing scam concerns after Cory Doctorow's $8000 loss. Ripple educates on scam identification and prevention, amidst increasing social media-based crypto frauds. (Read Mo...
Bitcoin News / Bitcoin.com - 2 months ago
A federal judge has ruled in favor of the U.S. Securities and Exchange Commission (SEC) and ordered Ripple to comply with the regulator’s post-complaint discovery requests concerning XRP. Ripple must also answer an interrogatory regarding the...
Cryptocoins News / Blockchain - 2 months ago
A US district judge has ordered Ripple to disclose XRP's financial and institutional sales data, a significant victory for the SEC amid allegations of unregistered sales. (Read More)
Bitcoin News / Google News Bitcoin - 2 months ago
βA Big ProblemββShock Fed Warning Sparks Fears A $34 Trillion Meltdown Could Be About To Cause Bitcoin, Ethereum, XRP And Crypto Price Chaos& & Forbes
Cryptocoins News / CoinJournal - 2 months ago
XRP price hovers above $0.50 amid latest Ripple vs.SEC case.
Dogecoin price is ranged and could dip further, but is seeing renewed interest.
Memeinator (MMTR) presale has surpassed $4.2 million amid massive investors confidence.
XRP price defied la...
Bitcoin News / Bitcoinist - 2 months ago
Yesterday, in a significant development in the ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC), US District Judge Sarah Netburn granted the SEC’s request for Ripple to disclose more comprehensive financial d...
Bitcoin News / Bitcoinist - 2 months ago
A significant development has occurred in the ongoing legal battle between the US Securities and Exchange Commission (SEC) and Ripple Labs. The SEC has succeeded in its motion to compel the blockchain payment company to produce its 2022-2023 financia...
Bitcoin News / Bitcoin.com - 2 months ago
After the unauthorized access of Ripple co-founder Chris Larsen’s personal holdings, Binance CEO Richard Teng revealed that the platform had successfully “managed to freeze $4.2 million” of the compromised assets. Teng el...
Bitcoin News / Bitcoinist - 2 months ago
On Wednesday, the news of a 213 million XRP exploit shocked the Ripple community as speculation of a security breach in the security of the payment firm. Later details provided by Ripple executives clarified that the company did not manage the compro...
Cryptocoins News / Finance Magnates - 3 months ago
Binance took action to freeze
$4.2 million worth of XRP believed to be associated with the $112 million
Ripple hack. This marks the largest cryptocurrency hack of 2024 thus far,
stirring concerns within the digital asset community.XRP Ledger Foundati...
Bitcoin News / Bitcoinist - 3 months ago
Bob Ras, the co-founder of the Smart-contract proof-of-stake blockchain Coreum and Sologenic, has revealed that XRP users can earn passive income with the Automated Market Maker (AMM).
XRP Ledger Users Poised For Possible Gains
The exciting update wa...
Bitcoin News / Bitcoinist - 3 months ago
RippleX, the development wing of Ripple Labs, has recently addressed a critical technical issue identified in the XRP Ledger’s Automated Market Maker (AMM). The problem emerged during extensive integration testing, aimed at ensuring the AMMR...
Bitcoin News / Bitcoinist - 3 months ago
The XRP community is once again buzzing with fresh hopes. Santiment, a well-known intelligence platform, has revealed an optimistic insight for the crypto asset, which might lead to a firm price rebound.Β
XRP Is Poised For Significant Rebound
Santime...
Bitcoin News / Bitcoinist - 3 months ago
Kraken has secured a major victory in an ongoing legal battle between Ripple and a group of XRP investors. The crypto exchange intervened in the lawsuit to protect its customers’ data, arguing that the information of these individuals shouldnβt...
Bitcoin News / Bitcoinist - 3 months ago
Crypto analyst Jaydee recently highlighted a notable pattern on the XRP price chart ahead of its monthly close. The analyst hinted that this all but confirms that a parabolic move was on the horizon for the crypto token, going by what happened the la...
Bitcoin News / Google News Bitcoin - 3 months ago
Ripple Exec Chris Larsen's XRP Accounts Illicitly Accessed, Crypto Exchanges Freeze Assets β Bitcoin News& & Bitcoin.com News