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.
Bitcoin News / Bitcoinist - 6 months ago
In the recent public questionnaire, titled “Money and Payments: The US Dollar in the Age of Digital Transformation,” the XRP army has done its best to let the US Federal Reserve know what the XRP Ledger (XRPL) is capable of. This initiative, aimed at...
Cryptocoins News / The Cointelegraph - 6 months ago
Bitcoin is struggling to sustain above $38,000, but the bulls have not given up much ground, which some analysts say increases the chance of a rally to $40,000. Bitcoi...
Cryptocoins News / CoinJournal - 6 months ago
ScapesMania:& Innovatively positioned for growth in the crypto market.
Ripple (XRP):& Resilient despite legal challenges, with fluctuating market performance.
Cardano (ADA): At a pivotal point, with potential for significant price movements...
Bitcoin News / Bitcoinist - 6 months ago
As the much anticipated Evernode airdrop approaches, XRP enthusiasts are swarming to Xumm to capitalize on the forthcoming opportunity. This unexpected surge in interest has resulted in the massive adoption of Xumm Wallet, with over 10,000 new users...
Bitcoin News / Bitcoinist - 6 months ago
Amid the downturn in the global financial technology market, the rumored Ripple Initial Public Offering (IPO), a highly anticipated event, could be affected by a potential delay.
Ripple IPO Might Be Delayed In The Thick Of Fintech Downturn
Director o...
Bitcoin News / Google News Bitcoin - 6 months ago
About $1,000,000,000 in Bitcoin Yanked From Exchanges in Two Weeks As Whales Accumulate Ethereum and XRP: Trader& & The Daily Hodl
Cryptocoins News / The Cointelegraph - 6 months ago
Bitcoin is witnessing profit-booking near $38,000, but the correction is likely to be shallow as lower levels are likely to attract buyers. Bitcoin (BTC) has started t...
Cryptocoins News / CoinJournal - 6 months ago
Ripple (XRP): Navigating a critical legal battle with the SEC, Ripple (XRP) faces price volatility, and its future hinges on the lawsuit’s resolution.
Cardano (ADA) and Dogecoin (DOGE): Cardano (ADA) benefits from increasing staking rewards...
Bitcoin News / Google News Bitcoin - 6 months ago
Bitcoin (BTC) Developments, Ripple (XRP) Price Tags, Bullish Cardano (ADA) Prediction: Bits Recap Nov 27& & CryptoPotato
Bitcoin News / Bitcoinist - 6 months ago
XRP has had a relatively quiet price performance over the past week. However, recent data revelation points to massive on-chain activity for the altcoin in the last seven days. Large investors appear to be taking advantage of the cryptocurrency’s slu...
Bitcoin News / Google News Bitcoin - 6 months ago
China ‘Hostile Takeover’ Suddenly Spurring U.S. Dollar ‘Collapse’ Amid Bitcoin, Ethereum, XRP And Crypto Price Surge& & Forbes
Cryptocoins News / The Cointelegraph - 6 months ago
XRP may need to undergo a short sell-off period before confirming the upside continuation setup as whales demonstrate bullishness. XRP (XRP) price may rally over 20% i...
Bitcoin News / Bitcoinist - 6 months ago
A prominent figure in the XRP community has revealed how the XRP price can hit $10,000. In his view, this gigantic milestone will be attained through the utility XRP will provide to users globally. His view happens to be something similar to that of...
Cryptocoins News / The Cointelegraph - 6 months ago
Bitcoin has risen above $38,000, clearing the path for a rally higher. Will altcoins follow? Bitcoin (BTC) broke above the overhead resistance of $38,000 on Nov. 24, i...
Bitcoin News / Google News Bitcoin - 6 months ago
Money ‘Flooding’ In—Crypto Now Braced For A Huge Multi-Trillion Wall Street Earthquake Amid Bitcoin, Ethereum, XRP And Crypto Price Boom& & Forbes
Bitcoin News / Bitcoinist - 6 months ago
Pseudonymous crypto analyst CryptoBull has taken to X (formerly Twitter) to paint a rather bullish picture of the future of the XRP price. The crypto analyst sees a massive breakout that would push the altcoin’s price above its previous all-time high...
Bitcoin News / Bitcoinist - 6 months ago
Crypto Exchange, BitTrade has announced it has added two new cryptocurrencies, XRP and Shiba Inu (SHIB), to its crypto lending platform.
BitTrade Adds XRP And Shiba Inu For Lending
Centralized Japanese cryptocurrency exchange, BitTrade has expanded...