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.
by COINS NEWS - 9 months ago
Anyone who’s been following Ripple over the past few years has known SBI Holdings was infatuated with their ODL product. I’m just glad it’s final official now :) Let the bullish news keep on coming in submitted by /u/RunsOnJava98...
Cryptocoins News / The Cointelegraph - 9 months ago
Bitcoin and several altcoins are taking a breather after the sharp rally of the past two days, but the general trend remains bullish. Ripple Labs’ victory in the case...
Bitcoin News / Google News Bitcoin - 9 months ago
Bitcoin Tumbles Below $30K, Crypto Prices Buckle After Altcoin Frenzy on XRP Ruling& & CoinDeskBitcoin hovers near 13-month high as investors cheer Ripple ruling& & ReutersBitcoin Dips Below $30K to Lowest Since Late June as Altcoins Pare Gains From...
Bitcoin News / Bitcoin.com - 9 months ago
Since July 12, 2023, the cryptocurrency market has expanded by a staggering $60 billion within a mere 48 hours. The majority of this growth transpired after the decisive Ripple Labs case verdict, resulting in bitcoin’s dominance dipping from 5...
Bitcoin News / Bitcoin.com - 9 months ago
XRP soared by as much as 70% higher on Friday, as markets continued to react to a court ruling that the token is not a security. On Thursday, U.S. judge Analisa Torres ruled that XRP is not “necessarily a security on its face.”...
Cryptocoins News / CoinStats - 9 months ago
XRP, the cryptocurrency that powers the XRP Ledger launched by U.S. fintech company Ripple, soars 75% after a U.S. judge ruled on Thursday that Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges.
A...
Cryptocoins News / EthereumWorldNews - 9 months ago
Coinbase, KrakenPro, and Crypto dot com are some of the crypto exchanges that reopened trading for XRP after a partial ruling in Ripple’s favor.Winklevoss-founded platform Gemini also said it is mulling listing Ripple’s coin for spot and...
Cryptocoins News / The Cointelegraph - 9 months ago
Following a partial win in its long-running court battle with the SEC, Ripple’s XRP token surged over 90% on July 13, reaching a new yearly high of $0.91. Trading volu...
Cryptocoins News / The Cointelegraph - 9 months ago
XRP price almost doubled after Ripple’s legal win against the U.S. SEC. But can its rally continue after nearly reaching $1? The price of XRP (XRP) has skyrocketed aft...
Cryptocoins News / The Cointelegraph - 9 months ago
Bitcoin may have tagged new yearly highs, but BTC price performance still needs to prove itself with a range breakout, traders argue. Bitcoin (BTC) consolidated near $...
Cryptocoins News / The Cointelegraph - 9 months ago
The XRP price rallied over 70% — bringing up its value from $0.47 to $0.82 in a day. The incident also marks the biggest price jump for XRP in the past year. A court...
Cryptocoins News / Finance Magnates - 9 months ago
In a landmark judgment yesterday (Thursday), a US court ruled that XRP's token sale to retail investors on public exchanges did not violate the securities law. However, the token sale to sophisticated investors did violate federal securities law.Ripp...
Cryptocoins News / The Cointelegraph - 9 months ago
Bitcoin market dominance briefly dipped below 50% as altcoins deemed securities by the SEC notched double-digit gains. Bitcoin (BTC) dominance has taken a tumble in th...
Cryptocoins News / The Cointelegraph - 9 months ago
The crypto community has gathered to celebrate the recent ruling on XRP’s security status, but lawyers warn there’s more to it than meets the eye. Ripple Labs’ split-d...
Cryptocoins News / CoinJournal - 9 months ago
Key takeaways
XRP rallied by more than 70% on Thursday following favourable ruling in Ripple’s legal case against the US Securities and Exchange Commission (SEC).
Shiba Memu’s presale nears $800k as more investors enter the market....
Cryptocoins News / Blockchain - 9 months ago
Ripple Labs achieved a partial victory in its case with the U.S. Securities and Exchange Commission (SEC) on July 13, 2023. (Read More)
Bitcoin News / Google News Bitcoin - 9 months ago
‘Altcoin season’ anyone? Bitcoin dominance tumbles after XRP victory& & CointelegraphBitcoin, Ether surge after Ripple notched partial win against SEC; Ripple’s XRP leads crypto rally& & Yahoo Finance‘A Big Deal’—Crypto Braced For A $30 Trillion Eart...
Cryptocoins News / CoinJournal - 9 months ago
A New York court dealt a major blow to the Securities and Exchange Commission.
The court ruled that XRP was not a financial security, pushing cryptocurrencies higher.
AltSignals token sale gained steam, with 52% of stage 2 tokens being sold....
Cryptocoins News / The Cointelegraph - 9 months ago
XRP’s market capitalization surged by more than $21 billion in just three hours. Ripple (XRP) has now become the fourth largest cryptocurrency by market capitalization...
Bitcoin News / Bitcoinist - 9 months ago
In a surprise victory in court, XRP has been declared “not a security.” The win immediately resulted in an abrupt change in sentiment surrounding altcoins.
Although the ruling only impacted the Ripple case outcome, it could have a lasting influence o...
Bitcoin News / Bitcoin.com - 9 months ago
Ripple Labs’ chief legal officer has broken down Thursday’s ruling on the U.S. Securities and Exchange Commission (SEC) v. Ripple case. Emphasizing that the landmark ruling is “a huge win” for the crypto firm, he s...