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 - 7 months ago
Bitcoin and other cryptocurrencies are likely to witness a pick up in volatility following the Fed’s rate decision on Sept. 20. Bitcoin’s (BTC) recovery is facing sell...
Bitcoin News / Bitcoin.com - 7 months ago
XRP was a big mover on Wednesday, despite cryptocurrency markets mostly consolidating in today’s session. Traders have moved to secure recent gains, ahead of September’s Federal Reserve interest rate decision. Polygon was also in the gr...
Cryptocoins News / CoinJournal - 7 months ago
The popular messaging platform Telegram has been at the forefront of innovation with its foray into the crypto world. Telegram aims to provide a secure and user-friendly platform for handling digital assets with its Web3-ready crypto wallet launch on...
Bitcoin News / Bitcoin.com - 7 months ago
New York’s financial regulator has significantly reduced the number of pre-approved cryptocurrencies that licensed crypto trading platforms can list. XRP, dogecoin, litecoin, and ethereum classic are among the coins removed from the Greenlist....
Bitcoin News / Bitcoinist - 7 months ago
In a notable development, the New York Department of Financial Services (NYDFS) has undertaken a substantial revision of its virtual currency framework, resulting in XRP, Dogecoin, Litecoin, among others being removed from the state’s “...
Bitcoin News / Bitcoinist - 7 months ago
Latest data from Kaiko, a blockchain analytics firm, reveals that while XRP prices are down 46% from July 2023 highs, its liquidity has significantly improved in the past two months, expanding 50% from $8 million to $12 million as of early September....
Bitcoin News / Bitcoinist - 7 months ago
Death crosses appearing in the chart of any digital asset can be bad and the XRP price is no different in this regard. The token presently looks to be heading toward another notable drop in price as an analyst points out a looming death cross.
XRP De...
Cryptocoins News / The Cointelegraph - 7 months ago
Bitcoin and select altcoins are attempting to make a comeback as traders expect the Fed to hold rates steady during its meeting this week. The failure of the bears to...
Bitcoin News / Google News Bitcoin - 7 months ago
‘Mind-Bogglingly Massive’—Crypto Suddenly Braced For A Fed Shock That Could Actually Pump The Price Of Bitcoin Ethereum, BNB And XRP& & Forbes
Bitcoin News / Google News Bitcoin - 7 months ago
Ripple CEO: The Billion-Dollar Problem That Will Make XRP The Next Bitcoin | Bitcoinist.com& & Bitcoinist
Bitcoin News / Bitcoinist - 7 months ago
Ripple’s XRP token is believed to boast huge potential, but many have wondered how valuable the token can become. Ripple’s CEO Brad Garlinghouse seems to have an answer as he claims the token could become the next Bitcoin.
How XRP Can Become The Next...
Bitcoin News / Bitcoinist - 7 months ago
In a series of tweets that have captured the attention of the crypto community, John E Deaton, a lawyer known for his pro-XRP stance, alluded to the existence of damning information about ETH Gate that could be disclosed soon. His comments come in th...
Bitcoin News / Bitcoin.com - 7 months ago
Many crypto proponents have warned that despite a small connection between Blackrock and XRP, the news of the world’s largest asset manager shifting focus from bitcoin to XRP is fake. Blackrock is currently waiting for the U.S. Securities and...
by COINS NEWS - 7 months ago
See what happens when the SEC gets out the way? submitted by /u/cajunrajing [link] [comments]
Bitcoin News / Google News Bitcoin - 7 months ago
XRP is the next Bitcoin if we solve a multi-trillion-dollar problem, Ripple CEO Brad Garlinghouse& & FXStreet