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 years ago
Fresh gains for BTC above $51,000 could trigger XRP's move towards a new 4-month high
XRP is trading around $1.32, close to 6% up on the day after a slight sell-off necessitated by traders taking profit across the market.
But like most cryptocurrenci...
Cryptocoins News / The Cointelegraph β - 2 years ago
This weekβs sharp rally in Bitcoin and Ether signals that bulls are back in control and altcoins are likely to follow. Bitcoin (BTC) finally broke above the $50,500 re...
Cryptocoins News / The Cointelegraph β - 2 years ago
In the ongoing SEC vs. Ripple lawsuit, the judge has sided with the latter over its request for "fair use" access to internal documents from the U.S. regulator. The pr...
by COINS NEWS - 2 years ago
From Trustmode: Tried to link the article but automod deletes it instantly. Here is the entire article. The United States Securities and Exchanges Commission (SEC), which has claimed jurisdiction over XRP, has no rules against holding or trading the...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin price continues to press higher within its range and altcoins broke out after ETH rose above a key resistance level. Bitcoin (BTC) is struggling to break above...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and select major altcoins are still facing selling at overhead resistance levels, indicating that the next leg of the uptrend may have to wait. There is an old...
Cryptocoins Exchanges / Binance - 2 years ago
Huge Ripple Army speculation that there will be a positive annoucement on 31st August re SEC lawsuit, this is priced into the valuation already but a slew of Ripple directors who were former bankers have left this last 5 months and I've heard of...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and altcoins saw a strong bounce off their respective support levels, a sign that traders are still buying on dips. Asset managers and companies currently hold...
Cryptocoins News / The Cointelegraph β - 2 years ago
Even with Wednesday's pullback, Bitcoin and most major altcoins are finding buyers on minor dips to underlying support levels, signaling that the trend remains bullish....
Cryptocoins News / CoinJournal - 2 years ago
If upside momentum increases, XRP/USD could test resistance at $1.28 and possibly move towards $1.42
XRP price is struggling for upside near a critical resistance level, with its value just in the green at time of writing. The XRP/USD pair is current...
Cryptocoins News / The Cointelegraph β - 2 years ago
Select altcoins are likely to move higher even as Bitcoin price takes a breather after hitting $50,000 for the first time in months. Bitcoin (BTC) rallied above the ps...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin has resumed its move toward $50,000 and this is likely to send altcoin prices higher. Wells Fargo, in partnership with NYDIG and alternative assets manager FS...
Cryptocoins News / CoinJournal - 2 years ago
Double-digit gains for XRP have seen it break higher, mirroring Cardano's stellar performance.
Ripple (XRP) price has jumped 11% against the US dollar in the past 24 hours, and 5% against Bitcoin (BTC) to continue its smooth recovery following recent...