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 Exchanges / Binance - 2 years ago
I don’t understand what is the difference between someone that own the token of the project like xrp and someone that is a shareholders of the company that make the token ? Does the shareholders as more power and can vote for something that the holde...
Cryptocoins Exchanges / Binance - 2 years ago
I don’t understand what is the difference between someone that own the token of the project like xrp and someone that is a shareholders of the company that make the token ? Does the shareholders as more power and can vote for something that the holde...
Cryptocoins Exchanges / Binance - 2 years ago
I don’t understand what is the difference between someone that own the token of the project like xrp and someone that is a shareholders of the company that make the token ? Does the shareholders as more power and can vote for something that the holde...
Cryptocoins Exchanges / Binance - 2 years ago
I don’t understand what is the difference between someone that own the token of the project like xrp and someone that is a shareholders of the company that make the token ? Does the shareholders as more power and can vote for something that the holde...
Cryptocoins News / The Cointelegraph - 2 years ago
Traders are hopeful that Bitcoin’s bounce from $29,000 to $40,000 and the strong rally seen in altcoins is a signal that the bull market has resumed. Bitcoin (BTC) so...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin and most major altcoins are meeting resistance at higher levels but the bearish sentiment of the last two months seems to be reducing. Bitcoin’s (BTC) recovery...
Cryptocoins Exchanges / Binance - 2 years ago
I used to just send USD but it’s a little expensive with all the fees. Is this possible and would it be a lot cheaper? submitted by /u/yrmansabanga [link] [comments]
Cryptocoins News / The Cointelegraph - 2 years ago
The strong recovery in Bitcoin and altcoins shows there is aggressive buying at lower levels but bears are unlikely to give up without a fight. Bitcoin (BTC) is leadi...
Cryptocoins News / The Cointelegraph - 2 years ago
Analysts and traders prepare for the worst after Bitcoin price broke below $31,000 and triggered a sell-off in major altcoins. Bitcoin (BTC) broke below the immediate...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin bulls defended the $31,000 level again, but data shows demand for BTC and altcoins is weak and this heightens the chase of further downside. Bitcoin (BTC) is...
by COINS NEWS - 2 years ago
What is the general feeling towards XRP here? With the ongoing SEC case is the risk greater than the potential reward, or are we looking at an untapped gold mine with the case looking favourable toward the XRP/Ripple team? I guess no one really knows...
Cryptocoins Exchanges / Binance - 2 years ago
Hi , It is impossible to withdraw XRP in Binance using XRP chain because they ask in Binance a tag memo while XRP doesn’t require one .. the only possibility is to use BSC2 or BSC20 … can somebody tell me why please . submitted by /u/Cr...
Cryptocoins News / CoinJournal - 2 years ago
All along, the XRP team has maintained that the cryptocurrency should not be treated as a security, citing the ex-SEC official’s comments on ETH.
Ripple has been allowed to question William H. Hinman, an ex-director of the US Securities and Exc...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin and most major altcoins are bouncing off strong support levels, indicating possible accumulation by the bulls. Bitcoin (BTC) has once again held the critical s...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin price is drifting lower, pulling altcoins to critical support levels and testing the resolve of traders who were looking for a bullish reversal. Bitcoin’s (BTC...
Cryptocoins News / The Cointelegraph - 2 years ago
Technical indicators and Bitcoin’s tightening price range suggest that a sharp, trend-changing breakout in BTC and altcoins is brewing. Earlier this week, Fan Yifei, t...
Cryptocoins News / The Cointelegraph - 2 years ago
Altcoin prices are moving higher as Bitcoin price holds a pattern of daily higher lows, a sign that the downtrend could be coming to an end. Bitcoin’s (BTC) range-boun...
Cryptocoins News / The Cointelegraph - 2 years ago
Altcoins continue to move higher as Bitcoin trades in a predictable range but it’s still too early to know if the market is flashing any strong buy signals. The weeken...
Cryptocoins News / The Cointelegraph - 2 years ago
The NFT marketplace plans to integrate Ripple’s XRP Ledger blockchain. An oversubscribed funding round has netted the Mintable nonfungible token (NFT) minting platfor...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin and altcoins are witnessing selling near key overhead resistance levels, but a shallow pullback may suggest further upside is in store. Bitcoin price staged a...
Cryptocoins News / The Cointelegraph - 2 years ago
Select altcoins are looking to capitalize on Bitcoin’s range-bound trading below the 20-day moving average. Bitcoin (BTC) is attempting to stage a relief rally but ana...
Cryptocoins News / The Cointelegraph - 2 years ago
The commission argued that Ripple’s motion, if granted, would open the floodgates for the company to request testimony from high-ranking government officials. The ongo...
Cryptocoins News / The Cointelegraph - 2 years ago
Sellers are jumping on top of every breakout from Bitcoin and altcoins, indicating that the bears are in no hurry to let go of their advantage. Bitcoin (BTC) price rem...