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
Ripple (XRP/USD) is the best of both worlds. It was established by Ripple Labs in 2012 as a cheaper and faster means of payment compared to traditional platforms like SWIFT and digital currencies.&
Transactions are confirmed by a small number of...
Bitcoin News / Bitcoin.com - 2 years ago
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says he has zero interest in investing in anything with litigation from the U.S. Securities and Exchange Commission (SEC). “That is a very bad idea,” he said. Discussing t...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and most major altcoins are on the verge of starting a deeper correction, which will signal that a short-term top may be in place. Bitcoin (BTC) and most major...
Cryptocoins Exchanges / Binance - 2 years ago
How is that possible that Binance suspended withdrawals with two of the cheapest cryptos? Seriously, I am really upset with this exchange. submitted by /u/JonniRos10 [link] [comments]
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and most major altcoins are struggling to find bullish momentum, a possible signal that prices could continue to erode. Bitcoin (BTC) and most major altcoins c...
Bitcoin News / Bitcoin.com - 2 years ago
Ripple CEO Brad Garlinghouse says that he expects the lawsuit over XRP by the U.S. Securities and Exchange Commission (SEC) to come to a conclusion next year. The executive explained: “We’re seeing pretty good progress despite a slo...
Cryptocoins Exchanges / Binance - 2 years ago
I want to remove my xrp from Binance onto xumm wallet or similar. Trouble is xrp have disabled xrp protocol withdrawals, only options are bep2 and bep20 neither of which are supported by many places out the bsc smart chain. Suggestions? I donβt want...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and most major altcoins have turned down from their respective overhead resistance levels, indicating that the short-term sentiment has turned negative. Bitco...
Cryptocoins Exchanges / Binance - 2 years ago
https://preview.redd.it/w2wfrz9xs4181.jpg?width=1155&format=pjpg&auto=webp&s=ae59f0475925862b848abe73541675f6488f97b6 XRP Network Suspended Again wtf Binance? i use XRP for cheap and fast transfers between Exchanges what is...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and most major altcoins are attempting a recovery, but higher levels are still likely to attract strong selling. Bitcoin (BTC) dropped below $56,000 on Nov. 19...
Cryptocoins Exchanges / Binance - 2 years ago
Hi Can someone from Bianance confirm if they will support the Solo (SOLO) Airdrop Program for XRP (XRP) Holders?? Thanks submitted by /u/IllustriousVictory43 [link] [comments]
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and most major altcoins are attempting to hold above their immediate resistance levels, a sign that bulls could be buying on each dip. Bitcoin (BTC) and Ether...
Cryptocoins Exchanges / Binance - 2 years ago
I had a depositing pending when the XRP suspending was in power, now it has been lifted. But never received my XRP. I checked my transaction on Xrpscan, and it was succesfully withdrawn. What now ? submitted by /u/Crypto_Malik [link]...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and large-cap altcoins are meeting strong overhead resistance, which could be a signal that bears are attempting to stall the next upward move. Bitcoin (BTC) c...
Cryptocoins Exchanges / Binance - 2 years ago
I have sent XRP from another exchange to Binance, but I did not know that XRP deposits are suspended temporary. Have I lost my XRP? submitted by /u/Crypto_Malik [link] [comments]
Cryptocoins News / The Cointelegraph β - 2 years ago
Bearish pressures mount against Bitcoin price and this could lead to sharp short-term pullbacks in the prices of many altcoins. Bitcoin (BTC) price continues to weaken...
Bitcoin News / Bitcoin.com - 2 years ago
Amid an ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC) over XRP, Ripple is launching a new product, Liquidity Hub, which aims to be “a one-stop shop for enterprises to source any tokenized asset.” The pro...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoinβs new all-time high at $69,000 and Etherβs slow climb toward $5,000 are clear signals that bulls are in control and a hint that altcoins intend to follow. Bi...
Cryptocoins Exchanges / Binance - 2 years ago
Iβm writing this because I wanted to see what peopleβs thoughts are on this next bull run? The charts clearly identify that the major cryptos are about to moon to astronomical levels but I was wondering if anyone had any solid advice on when to pull...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and Ethereum are taking full control of the market and technical analysis shows altcoins intend to keep pace with the top 2 cryptocurrencies. Bitcoin (BTC) is...
Cryptocoins Exchanges / Binance - 2 years ago
I Can't withdraw my XRP since yesterday. It said it will be fixed around 16:53 (Philippine time) yesterday but I still can't withdraw now. Does anybody know when it will be back up? submitted by /u/deadsea29 [link] [comm...
Cryptocoins News / The Cointelegraph β - 2 years ago
Avalanche Foundation showcases a six-figure ecosystem fund, wXRP set to launch smart contracts on Ethereum, and AllianceBlock joins forces with Flare β all coming to you in this weekβs Fi...