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 - 3 years ago
After joining Ripple’s board of directors in May, Rosa Rios is bashing Bitcoin for being a supposed speculative tool. Amid the ongoing legal battle between Ripple and...
Bitcoin News / Bitcoin.com - 3 years ago
As the lawsuit with the U.S. Securities and Exchange Commission (SEC) continues, Ripple CEO Brad Garlinghouse insists that the Commission has provided no clarity in crypto regulation. He said the SEC is using its meetings with crypto companies as lea...
Cryptocoins Exchanges / Binance - 3 years ago
Hey all, Does anyone know what is happening with the Flare drop? Im seeing comments that people were meant to claim it but I'm assuming that's not for users on Binance? submitted by /u/SockShock [link] [comments]
Cryptocoins Exchanges / Binance - 3 years ago
Hey guys, I just deposited some XRP to my binance account from another platform as they dont offer much altcoins. I tried looking at convert but it seems that it is a market order. I am quite new to binance and would like to find out how I can purch...
Cryptocoins News / The Cointelegraph - 3 years ago
Bitcoin and altcoins made a sharp downside move to their recent lows after news that China banned crypto trading surfaced. The crypto market’s recovery was rocked on S...
Cryptocoins News / The Cointelegraph - 3 years ago
Positive news about China’s Evergrande meltdown and the Fed’s intent to continue its current monetary policy catalyzed a strong recovery in the price of Bitcoin and altcoins....
Cryptocoins News / The Cointelegraph - 3 years ago
Bitcoin and most major altcoins have dropped to their critical support levels, which is likely to attract strong buying from the bulls. The crypto markets and the U.S....
Bitcoin News / Bitcoin.com - 3 years ago
Amid the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC), Ripple’s legal team reportedly said that they have no plans to settle with the securities watchdog. They are confident that SEC Chairman Gary Gensler will be conv...
Cryptocoins News / The Cointelegraph - 3 years ago
Bitcoin is sustaining above its immediate support, but several altcoins are showing signs of profit-booking. Bitcoin’s (BTC) recovery is facing stiff resistance near...
Cryptocoins News / CoinJournal - 3 years ago
XMR, MIOTA and XRP price outlook as the market heads towards the weekend with Bitcoin's price poised around the $48k level
Here is a brief technical look at Monero, XRP, and IOTA prices going into the weekend, with the broader outlook for Bitcoin (BT...
Cryptocoins News / The Cointelegraph - 3 years ago
Buyers continue to scoop up Bitcoin and altcoins on dips, a signal that there is strong demand at lower levels and that bullish momentum is building. Bitcoin (BTC) i...
Cryptocoins News / The Cointelegraph - 3 years ago
Bitcoin’s quick dip below $44,000 sent altcoin prices into a freefall and has some traders worried that the correction could deepen. Bitcoin’s (BTC) failure to make a...
Cryptocoins Exchanges / Binance - 3 years ago
Which One of These Will Be The Best Investment In Long Term binance #crypto #ADA #MATIC #XRP View Poll submitted by /u/imshivamsingh [link] [comments]
Cryptocoins News / The Cointelegraph - 3 years ago
Altcoins are still flashing bullish signals but Bitcoin’s steady slide toward its swing low could put a damper on the market’s positive sentiment. Bitcoin’s recent pl...