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 - 6 months ago
XRP has entered a strong correction cycle after testing a multiyear resistance trendline. Is the bull market on pause for now? XRP price has dropped 18.5% from its lo...
Cryptocoins News / CoinJournal - 6 months ago
Ripple’s XRP looks to be breaking from a descending channel, suggesting further upside momentum.
Dogecoin price is poised amid a notable surge in DOGE transactions.
Both coins traded lower this week as markets reacted to Binance news.
The Rip...
Bitcoin News / Bitcoinist - 6 months ago
In a move signaling the increasing convergence of traditional finance and digital assets, DeFi Technologies Inc. has announced the launch of an XRP Exchange Traded Product (ETP) in Europe. Scheduled for early December 2023, this initiative is underta...
Bitcoin News / Bitcoinist - 6 months ago
In a recent conversation on X, David “JoelKatz” Schwartz, the Chief Technology Officer of Ripple, delved into the intricate dynamics between XRP and the company’s decision to move away from a traditional Initial Public Offering (IPO). Thi...
Cryptocoins News / The Cointelegraph - 6 months ago
The sharp rebound in Bitcoin and select altcoins suggests that bulls remain in charge and continue to buy at lower levels. Traders hate uncertainty; hence, the settlem...
Bitcoin News / Google News Bitcoin - 6 months ago
Serious Crypto Warning Issued As Binance Collapse ‘Countdown’ Suddenly Begins—BNB Leads Bitcoin, Ethereum And XRP Price Lower& & Forbes
Bitcoin News / Bitcoinist - 6 months ago
The US SEC, in its lawsuit against Kraken, has deliberately excluded XRP from the list of cryptocurrencies it has classified as securities. The action has sparked speculation in the crypto community about a potential victory for XRP given the regulat...
Bitcoin News / Bitcoinist - 6 months ago
In an unprecedented analysis, the Basel Committee on Banking Supervision (BCBS) has unveiled a comprehensive report detailing the involvement of banks in crypto assets like Bitcoin, Ethereum, and XRP. The data, which marks a significant step in under...
Bitcoin News / Bitcoinist - 6 months ago
As another trading week opens up for investors, metrics for various cryptocurrencies, including the XRP price, are beginning to turn bullish once again. Amid this, there are key events that could drive the altcoin’s price toward $10 in the coming yea...
Bitcoin News / Bitcoinist - 6 months ago
One crypto analyst has taken a unique route when it comes to predicting the XRP price. The analyst who believes that the altcoin’s price is bound to cross the $100 level used Bitcoin’s performance to make the argument for why the token is well-positi...
Bitcoin News / Bitcoinist - 6 months ago
A pro-XRP lawyer has disclosed the final dates of the Ripple and SEC case, sharing insights into the upcoming dates and what could transpire during the hearing.
Ripple And SEC Case Final Dates Disclosed
Pro-XRP lawyer, John E. Deaton has revealed th...
Cryptocoins News / The Cointelegraph - 6 months ago
The weakness in the U.S. Dollar Index suggests that risky assets such as Bitcoin and the S&P 500 Index may remain in favor of the buyers. The S&P 500 Index (SP...
Bitcoin News / Google News Bitcoin - 6 months ago
Elon Musk's X Post Triggers Bullish Response From XRP Army, Bitcoin Sets New All-Time High, Shibarium Debuts New Feature: Crypto News Digest by U.Today& & U.Today
by COINS NEWS - 6 months ago
Ripple has a Major WIN expected against what SEC has going against Them. All this News and Technical Analysis are setting up for 3 Major Technical Indicators to Collide. Lets Find out What that means for XRP Price going forward. submitte...
Bitcoin News / Bitcoinist - 6 months ago
Amid the bullish sentiment around the cryptocurrency market, decentralized public blockchain XRP Ledger (XRPL) has recently witnessed a significant increase in its transactions marking yet another milestone for the decentralized blockchain.
The XRP L...
Bitcoin News / Google News Bitcoin - 6 months ago
Ripple (XRP) Price Swings, Bitcoin (BTC) Price Predictions, Solana’s (SOL) Potential: Bits Recap Nov 20& & CryptoPotato
Bitcoin News / Bitcoinist - 6 months ago
Ripple CTO David Schwartz recently sat down to chat about how the XRP Ledger is enabling a revolution in the tokenization of real-world assets. While speaking in a recent interview, Schwartz noted his excitement around the XRP ecosystem graduating fr...
Bitcoin News / Google News Bitcoin - 6 months ago
U.S. Dollar Collapse ‘Acceleration’—$33.7 Trillion Shock Fed Inflation Warning Makes The ‘Bullish Case’ For Bitcoin, Ethereum, XRP And Crypto Price Surge& & Forbes
Bitcoin News / Google News Bitcoin - 6 months ago
Whales Move Over $880,000,000 in Bitcoin, Solana, XRP and Dogecoin – Here’s Where the Crypto’s Headed& & The Daily Hodl
Bitcoin News / Google News Bitcoin - 7 months ago
Coinbase Reveals ‘Massive’ $48 Trillion Opportunity Amid Bitcoin, Ethereum, XRP And Crypto Price Pump& & Forbes
Bitcoin News / Google News Bitcoin - 7 months ago
Important Ripple (XRP) Developments, Bitcoin (BTC) Volatility, Solana (SOL) Rollercoaster: Bits Recap Nov 17& & CryptoPotato
Bitcoin News / Bitcoinist - 7 months ago
The bullishness around the XRP price has still not waned even after an eventful week. As the asset has been able to maintain critical support levels, expectations surrounding its eventual resurgence remain, especially as crypto analysts give reasons...
Bitcoin News / Google News Bitcoin - 7 months ago
BlackRock XRP Trust Filing Revealed as Fake, SEC Deadline Approaches for Bitcoin ETFs& & Coinpedia Fintech News