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 / Google News Bitcoin - 6 months ago
Crypto Now Braced For A ‘Massive’ $300 Billion Price Earthquake Following Bitcoin, Ethereum And XRP Surge& & Forbes
Bitcoin News / Bitcoinist - 6 months ago
A number of intriguing developments have emerged, all of which point to cryptocurrency giant Ripple may be in the works of launching an Initial Public Offering (IPO). As expected, concerns have been raised among the XRP community about whether a Ripp...
Cryptocoins News / CoinJournal - 6 months ago
Hey, crypto enthusiasts! We all know the festive season brings surprises, but this one is off the charts. The crypto world is buzzing about& Borroe Finance ($ROE), and word on the street is, it might just overshadow giants like XRP and BNB.
Let&r...
Bitcoin News / Bitcoin.com - 6 months ago
Dubai’s financial regulator, the Dubai Financial Services Authority, has approved XRP as a recognized crypto token for use within the Dubai International Financial Centre (DIFC), a special economic zone. “Licensed virtual asset firm...
Bitcoin News / Bitcoinist - 6 months ago
The crypto community is running with a mix of optimism and caution as rumors fly about Google’s possible engagement with the XRP Ledger.
Google And XRP Ledger Buzz
CEO of Alpha Lions Academy and Head of Social Adoption at XRP Healthcare, Edo Farin...
Bitcoin News / Bitcoinist - 6 months ago
An interesting development is the rumors that are circulating on social media regarding the XRP price and the lesser-known Ripple co-founder Arthur Britto. Apparently, Britto had given an ultra-bullish forecast for the digital asset, with the expecta...
Bitcoin News / Bitcoinist - 6 months ago
In a recent development, a crypto analyst has provided hope to XRP holders as they predict that the token could see a major uptick in its price soon. However, they highlighted certain resistance levels that it must overcome for that to happen.
$0.55...
Cryptocoins News / The Cointelegraph - 6 months ago
Bitcoin price is losing its upward momentum, but data suggests traders are gearing up to buy any significant dips. Bitcoin (BTC) soared above $35,000 on Nov. 2 and tha...
Bitcoin News / Bitcoinist - 6 months ago
Ripple has announced a major achievement in the XRP ecosystem as the cryptocurrency has been officially approved for use within Dubai’s financial ecosystem by the Dubai Financial Services Authority (DFSA).
XRP Gets Greenlight in DIFC
Ripple reveale...
Cryptocoins News / Finance Magnates - 6 months ago
Ripple has announced the approval of its digital
asset XRP for use within the Dubai International Financial Centre (DIFC). This
decision marks a significant milestone for the blockchain and crypto solutions
firm as XRP becomes the first virtual asset...
Bitcoin News / Google News Bitcoin - 6 months ago
‘Everything’s Going To Rally’—Huge Predicted Fed Flip To Spark ‘Exponential’ Bitcoin, Ethereum, XRP And Crypto Price Boom To Rival Gold& & Forbes
Bitcoin News / Bitcoinist - 6 months ago
John Deaton, a crypto and pro-Ripple lawyer, thinks there is “no way Ripple,” the blockchain company whose two key executives were sued by the United States Securities and Exchange Commission (SEC), will abandon XRP, the native currency o...
Bitcoin News / Bitcoinist - 6 months ago
In another regulatory win for Ripple, the company made a significant announcement regarding the approval of XRP by the Dubai Financial Services Authority (DFSA), which will allow licensed virtual asset firms in the Dubai International Financial Centr...
Cryptocoins News / The Cointelegraph - 6 months ago
The new tokens join the ranks of BTC, ETH and LTC for use by the 4,000-plus companies located in the zone, which is considering new legal measures as well. The Dubai...
Bitcoin News / Bitcoinist - 6 months ago
Ripple recently released its Q3 2023 XRP Markets Report as part of the company’s efforts to provide transparency and updates on “key industry developments and crypto markets movements.” The report also highlighted some of the impressive strides the c...
Cryptocoins News / CoinJournal - 6 months ago
Ripple says approval allows licensed firms to incorporate XRP into their crypto asset services.
CEO Brad Garlinghouse notes that Dubai continues to grow as a global leader in crypto regulation and innovation.
Other cryptocurrencies allowed under the...
Bitcoin News / Google News Bitcoin - 6 months ago
Imminent $3 Trillion ‘Watershed Moment’—300% Crypto Price ‘Panic’ Could Be About To Blow Up Bitcoin, Ethereum And XRP& & Forbes