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
Bitcoin (BTC) plunged below $40,000 on March 4 and has been trading below the level throughout the weekend.Although the crypto price action has been volatile in the past few days, Glassnode data shows that institutional investors have been gradually...
Cryptocoins News / The Cointelegraph - 2 years ago
The equity markets in Europe and the United States are seeing a sea of red as traders continue to sell risky assets due to the geopolitical situation. Bitcoin (BTC) and several major cryptocurrencies are also witnessing profit-booking after the recen...
Cryptocoins News / CoinJournal - 2 years ago
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial...
Cryptocoins News / The Cointelegraph - 2 years ago
The speculation regarding the U.S. Federal Reserve’s tightening cycle and recent geopolitical developments may have resulted in panic selling by short-term traders. Analysis from Glassnode suggested that traders who had purchased Bitcoin (BTC) near t...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin (BTC) soared above $40,000 on Feb. 28 even though the S&P 500 remained soft. This suggests that the correlation between Bitcoin and the U.S. equity markets may be showing the first signs of decoupling. If bulls sustain the price above $38...
Cryptocoins News / The Cointelegraph - 2 years ago
The U.S. equity markets and Bitcoin (BTC) have rebounded sharply from their Feb. 24 lows while gold has made a retreat from its recent highs. This indicates that investors may be buying risky assets and reducing exposure to assets perceived as a safe...
Cryptocoins Exchanges / Binance - 2 years ago
I have some leftover Ripple in my Binance account and I am trying to cash out before my account is locked, but I am having some trouble as Binance does not allow me to convert or sell the Ripple for Bitcoin. What wallet can I transfer my Ripple to, c...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin (BTC) and several altcoins have bounced off their immediate support levels after buyers attempted to arrest the current decline. Bloomberg senior commodity strategist Mike McGlone highlighted in a recent tweet that Bitcoin was trading roughly...
by COINS NEWS - 2 years ago
Man, I remember this sub back in December '20, so many memes appearing with that dude laughing at the funeral near the tombstone with xR(I)P. The entire crypto twitter going wild: "XRP gonna drop out of top ten by the end of January '21&...
Bitcoin News / Bitcoin.com - 2 years ago
XRP fell by over 10% on Tuesday, as bearish pressure once again intensified in crypto markets. As of writing, the global cryptocurrency market capitalization was almost 5% lower, following marginal gains this morning.
Biggest gainers
The bleeding in...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin (BTC) dipped below $38,000 on Feb. 21 but the bulls are attempting to arrest the decline and start a recovery. The sustained weakness in 2022 seems to have toned down expectations of a strong rally.Huobi crypto exchange co-founder Du Jun said...
Cryptocoins News / NewsBTC - 2 years ago
The returns on Ripple were promising in the past decade, but it largely missed out on significant crypto gains. However, it did succeed during the early parts of last year until April, when its value grew significantly higher than before, only to be...
Cryptocoins News / Blockchain - 2 years ago
Christopher Giancarlo, the former Chairman of the Commodity Futures Trading Commission (), has shared his thought on the status of XRP Coin as the legal brawl between Ripple Labs and the Securities and Exchange Commission (SEC) rages on.
While app...
Bitcoin News / Bitcoinist - 2 years ago
The legal battle between payment company Ripple and the U.S. Securities and Exchange Commission (SEC) carries on. Going in on its second year, newly released documents could provide the payment company with an advantage over the Commission.
Related R...
Cryptocoins News / CoinJournal - 2 years ago
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial...
Cryptocoins Exchanges / Kraken - 2 years ago
We’re thrilled to announce that we’ll be supporting the Songbird (SGB) token airdrop for XRP holders! The airdrop’s snapshot of XRP balances was taken on December 12, 2020 at ~00:00 (UTC). Client accounts (both spot and margin) that held XRP at this...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin (BTC) sold off along with the U.S. equity markets on Feb. 17 on reports that Russia expelled Bart Gorman, the second highest-ranking American official from the U.S. Embassy in Moscow and U.S. President Joe Biden cautioned that the threat of a...
Cryptocoins News / The Cointelegraph - 2 years ago
Ripple (XRP) addresses that hold at least 10 million native units have returned to accumulating more in the past three months, a similar scenario that preceded a big rally for the XRP/USD and XRP/BTC pairs in late 2020.The return of XRP 'mega whales'...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin (BTC) and the U.S. equity markets are facing selling on Feb. 16 as traders seem to be trimming positions in assets perceived to be risky on the accusation by NATO that Russia continues to build troops near the Ukrainian border. This is contra...
Cryptocoins News / NewsBTC - 2 years ago
Ripple is one of the altcoins that has strived comparative well within the cryptocurrency space. The price-performance and the general trend in the protocol’s ecosystem have made this crypto one of the outstanding long-term and short-term investment...