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 / CoinJournal - 1 year ago
At press time, XRP was trading at $0.5281, up 3.53% in the last 24 hours.
The XRP price has been soaring in correlation with Bitcoin’s (BTC) price.
Ripple has today launched a business liquidity hub.
Today’s launch of the business liqui...
Bitcoin News / Google News Bitcoin - 1 year ago
Bitcoin fluctuates at US$30,000; Ether gains; Litecoin, XRP drop; U.S. equities fall on recession concern& & Yahoo Finance
Cryptocoins News / The Cointelegraph - 1 year ago
Today's CPI report highlighted a slight decline in inflation, a development which could put a strong price floor beneath Bitcoin and select altcoins. The March consum...
Cryptocoins News / The Cointelegraph - 1 year ago
He’s best known as the “pro-XRP lawyer,” but John Deaton was actually “10 times more into Bitcoin and four times more into Ethereum.” From childhood dreams of becoming...
Cryptocoins News / The Cointelegraph - 1 year ago
XRP nears key breakout, but lackluster volumes may spoil its 30% rally setup. XRP (XRP) rose 2.1% to $0.52 on April 11, extending its daily gains from $0.50 alongside...
Bitcoin News / Google News Bitcoin - 1 year ago
Is This The Real Reason Behind Crypto’s $200 Billion Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana Price Boom?& & Forbes
Cryptocoins News / Blockchain - 1 year ago
Jeremy Hogan, partner at Hogan & Hogan, argues that Ripple’s XRP does not fit the definition of an investment contract and is therefore not a security. The SEC lawsuit against Ripple claims that the company illegally sold XRP as an unregistered...
Cryptocoins News / The Cointelegraph - 1 year ago
After days of consolidation near the local high, Bitcoin is trying to breakout and challenge the $30,000 level. Bitcoin’s (BTC) tight consolidation near its local top...
Cryptocoins News / The Cointelegraph - 1 year ago
Lawyer Jeremy Hogan believes the United States Securites and Exchange Commission has failed to legally demonstrate that XRP is a security. Ripple’s XRP (XRP) is not a...
Cryptocoins News / The Cointelegraph - 1 year ago
Bitcoin’s failure to clear the overhead resistance at $30,000 is attracting profit-booking in select altcoins. Bitcoin (BTC) has been trading below $29,000 for the pas...
Cryptocoins News / The Cointelegraph - 1 year ago
More gains for XRP price appear likely due to a classic bullish continuation pattern alongside strong whale accumulation. XRP (XRP) has risen by an impressive 60% in t...
Cryptocoins News / CoinJournal - 1 year ago
Cryptocurrency prices went nowhere this week as focus remained on the happenings in the United States, where data revealed that the economy was weakening. Bitcoin price remained in a consolidation phase even as the US dollar index (DXY) plunged. Ethe...
Cryptocoins News / The Cointelegraph - 1 year ago
Bitcoin continues to face resistance near $29,000 and Ether has decided to take charge of the wider crypto markets' bullish momentum. Bitcoin (BTC) remains pinned belo...
Bitcoin News / Bitcoin.com - 1 year ago
Xrp rose for a second consecutive session on Wednesday, as the token continued to move away from a recent price floor. Since hitting an eleven-month high a week ago, the token has mostly consolidated. Avalanche was also in the green, as prices hit a...
Cryptocoins News / The Cointelegraph - 1 year ago
Macroeconomic headwinds continue to pressure the crypto market, but bulls appear steadfast on holding $28,000 for support, and this could provide tailwinds for altcoins....
Cryptocoins News / CoinJournal - 1 year ago
The XRP price prediction suffered recently after its parent company, Ripple, was the subject of a high-profile lawsuit with US regulators. However, recent news has come to light that could boost the long-term prospects of Ripple and XRP.
Elsewhere in...
Bitcoin News / Google News Bitcoin - 1 year ago
Bitcoin And Crypto Are Suddenly Braced For A $1 Billion U.S. Earthquake After Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana Price Surge& & Forbes