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 - 2 years ago
XRP risks declining further in the coming weeks despite its eye-grabbing intraday price moves. XRP price saw a major spike on Aug. 26, hinting at a possible effect fro...
Bitcoin News / Bitcoinist - 2 years ago
In recent years, payment company Ripple has seen important growth due to its XRP-based solution On-Demand Liquidity (ODL). In collaboration with exchange platforms and other partners, the company has provided people across the world with an alternati...
Bitcoin News / Google News Bitcoin - 2 years ago
‘The Future Is Here’—Visa, Mastercard And Binance Are Suddenly Making Bitcoin, Ethereum, XRP, Solana, Cardano And Tether Payments A Reality Despite Price Crash& & Forbes
by COINS NEWS - 2 years ago
Just looked on Bitboys twitter to see the fallout of his poor life choices and noticed that David Schwartz himself called out Bitboy. Congrats on destroying what credibility you had left, Bitboy. I can only imagine Ben is at home now screaming...
Cryptocoins News / The Cointelegraph - 2 years ago
Crypto traders expect a range expansion once the Jackson Hole symposium is complete and the Fed’s perspectives on inflation, interest rate hikes and the health of the economy are made pub...
Cryptocoins News / NewsBTC - 2 years ago
XRP Price was constantly consolidating on its four hour chart. The bulls have faded out from the market but are consistently trying to protect price from falling below the immediate support level. Despite the 1.5% appreciation over the last 24 hours,...
Cryptocoins News / NewsBTC - 2 years ago
XRP price has demonstrated a significant uptick that come with engaging social media tweets and discussing. Does this hint a potential bull run? XRP price amplified by social media mentions during summer Ripple now an official Worl...
Bitcoin News / Google News Bitcoin - 2 years ago
$1 Trillion Crypto Knife-Edge Now Hinged On A Fed Bombshell After $200 Billion Bitcoin, Ethereum, BNB, XRP, Solana, Cardano And Dogecoin Price Crash& & Forbes
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin and altcoins sold-off sharply on Aug. 19, leading technical traders to forecast a possible drop to new yearly lows. Bitcoin (BTC) and most major altcoins witn...
Bitcoin News / Google News Bitcoin - 2 years ago
A Massive $10 Trillion Crypto Game-Changer Is Closer Than You Think—Suddenly Boosting The Price Of Bitcoin, Ethereum, BNB, XRP, Solana, Cardano And Dogecoin& & Forbes
Cryptocoins News / CryptoNinjas - 2 years ago
Kraken, the popular crypto exchange, has announced the results of its second 2022 Proof of Reserves audit, which has now been expanded beyond *BTC, and ETH* to include USDT, USDC, XRP, ADA*, and DOT.
*Indicates Proof of Reserves audit covered assets...
Bitcoin News / Google News Bitcoin - 2 years ago
‘Opening The Floodgates’—Crypto Braced For A $10 Trillion Earthquake As The Price Of Bitcoin, Ethereum, BNB, XRP, Solana, Cardano And Dogecoin Swing& & Forbes
Bitcoin News / Google News Bitcoin - 2 years ago
The SEC Is Quietly Cracking Down On Crypto As Price Of Bitcoin, Ethereum, BNB, XRP, Solana, Cardano, Luna, Shiba Inu, And Dogecoin Recover& & Forbes
Bitcoin News / Google News Bitcoin - 2 years ago
Upgrade Still ‘Not Priced In’—Ethereum Cofounder Issues Shock Price Prediction Amid Huge Bitcoin, BNB, XRP, Solana, Cardano And Dogecoin Rally& & Forbes
Bitcoin News / Google News Bitcoin - 2 years ago
Ripple's Counsel Urges US Lawmakers to Urgently Pass 'Sensible' Crypto Legislation Amid SEC Lawsuit Over XRP – Regulation Bitcoin News& & Bitcoin News
Bitcoin News / Bitcoin.com - 2 years ago
Ripple’s general counsel has urged U.S. lawmakers to pass “sensible crypto legislation” amid a Securities and Exchange Commission (SEC) lawsuit over the sale of xrp. “Rather than providing regulatory clarity th...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin price has hit resistance at the $24,000 level, resulting in a slight pullback in select altcoins. Is the rally over? Bitcoin (BTC) hit a six-week high above $2...
Cryptocoins News / NewsBTC - 2 years ago
Ripple (XRP) has walked the last mile after it waded lows at $0.326 and surged by 16% in the last 48 hours. While everything is looking green and bullish, XRP is still faced with the $0.381 resistance, and if the coin fails to shoot over that means a...
Bitcoin News / Google News Bitcoin - 2 years ago
Recession Fears Prime Bitcoin And Crypto For A ‘Sharp’ Fed U-Turn As The Price Of Ethereum, BNB, XRP, Solana, Cardano And Dogecoin Roar Back& & Forbes
by COINS NEWS - 2 years ago
A U.S. judge recently quashed the Securities and Exchange Commission’s (SEC) request to block XRP holders from aiding in Ripple’s defence and prohibit attorney John E. Deaton from further participating in the proceedings.
XRP Holders Can Continue Ai...
by COINS NEWS - 2 years ago
tldr; XRP has won their right to retain their Amici status, this is a major relief to XRP holders. Judge Torres has denied SEC’s motion to revoke the amici status. The date for filing statements on undisputed facts and motion for the summary judgeme...
Bitcoin News / Google News Bitcoin - 2 years ago
Ripple’s chief executive has shared his views on possible outcomes of the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) over the sale of xrp, which the regulator claims to be an unregistered securities offering.
Ripple’s...