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 / Bitcoin.com - 7 months ago
After being the victim of a red wave on Thursday, XRP rebounded in today’s session, as crypto bulls remained resilient. The global market cap is up by 0.40% at the time of writing, following a 2% drop yesterday. Stellar was another strong move...
Bitcoin News / Bitcoinist - 7 months ago
Renowned attorney and staunch XRP advocate, John E. Deaton, who currently represents an impressive 75,000+ token holders in the ongoing Ripple Labs versus the U.S. Securities and Exchange Commission (SEC) lawsuit, has the crypto community on the edge...
Bitcoin News / Bitcoinist - 7 months ago
The possibilities for where the XRP price might end up have been a hot topic for debate recently. Many analysts have given their mostly bullish forecasts as the market progresses. Now, another analyst has jumped in with a bullish prediction for the d...
Bitcoin News / Bitcoinist - 7 months ago
XRP has defied all expectations of a bearish outlook to become the most traded altcoin on crypto exchanges in the United States. The cryptocurrency has overtaken prominent cryptocurrencies like Solana, Litecoin, and Shiba Inu, despite being blacklist...
Bitcoin News / Google News Bitcoin - 7 months ago
Shibarium, XRP, and Bitcoin Spark are rumored to be in the Spotlight of Wall Street Investors | Bitcoinist.com& & Bitcoinist
Bitcoin News / Google News Bitcoin - 7 months ago
BNB, XRP Lead Slide in Crypto Majors as Mt. Gox's Repayment Delay Fails to Bouy Bitcoin Prices& & CoinDesk
Cryptocoins News / CoinJournal - 7 months ago
In the ever-evolving world of cryptocurrencies, some of the top crypto traders are setting their sights on two alt coins to watch: Ripple ($XRP) and InQubeta ($QUBE). These industry experts are throwing their support behind these blockchain projects,...
Bitcoin News / Bitcoinist - 7 months ago
Since June, XRP has been on an upward trajectory in terms of liquidity. This liquidity has continued to maintain high levels even after the euphoria of the Ripple victory over the US Securities and Exchange Commission (SEC) has worn off, which could...
Cryptocoins News / The Cointelegraph β - 7 months ago
Bitcoin and other cryptocurrencies are likely to witness a pick up in volatility following the Fedβs rate decision on Sept. 20. Bitcoinβs (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 - 8 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 “...