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 / Bitcoinist - 1 year ago
XRP community attorney John E. Deaton, who is representing the holders of the token in the lawsuit between Ripple and the US Securities and Exchange Commission (SEC), has outlined in a new Twitter thread why the definitions of “investment”...
by COINS NEWS - 1 year ago
Maybe its due to the "banking crisis" or maybe its wishful thinking that the SEC will lose its case against Ripple. Maybe its both. XRP is up 16% in the last 7 days and XLM is up 20%. What hype is driving this run in the midsts of the bear...
by COINS NEWS - 1 year ago
We saw some hard pumping of XRP over the past few days, even when the entire rest of the market was falling. For those wondering, it is because speculators believe XRP will be deemed a commodity and (mostly) win the Ripple v. SEC case. This is...
Bitcoin News / Bitcoinist - 1 year ago
XRP, the cryptocurrency of the Ripple network, has experienced significant price growth in recent weeks, registering an increase of 14% in the last week alone. This marks an appreciation of over 40% for the asset in the last 30 days, positioning it a...
Cryptocoins News / The Cointelegraph β - 1 year ago
Signs of easing inflation could push Bitcoin and select altcoins above their respective overhead resistance levels in the short term. Data from the Personal Consumpti...
Cryptocoins News / The Cointelegraph β - 1 year ago
Most altcoins posted a below-par performance in March, but XRP, XLM, CFX, XDC and MASK defied the trend by posting double-digit gains. Bitcoinβs dominance over the cry...
Cryptocoins News / The Cointelegraph β - 1 year ago
XLM price is playing catchup to XRPβs March gains, quickly rising 25% versus the U.S. dollar while the XLM/XRP pair bounces from record lows. The price of Stellar (XLM...
by COINS NEWS - 1 year ago
This may seem obvious, but this is by far the longest drawn out legal battle in the space, Ripple is one of the large players in this space (capital) money wise. This explains why the SEC have been unable to simply threaten them and get them to settl...
Cryptocoins News / CoinJournal - 1 year ago
Ripple price predictions have plateaued since the start of the company’s SEC troubles, which has led many investors to seek out alternative investment opportunities. While the XRP price remains stagnant, one of the most exciting opportunities a...
Bitcoin News / Google News Bitcoin - 1 year ago
Crypto Whales Move Over $600,000,000 in Bitcoin, Ethereum, XRP and The Sandbox β Hereβs Where Itβs Going& & The Daily Hodl
Bitcoin News / Bitcoinist - 1 year ago
On-chain data shows XRP profit taking has surged to its highest level since August 2021 as the price has climbed another 17% in the last 24 hours.
XRP Profit-Taking Volume Is Currently More Than Two Times The Loss-Taking Volume
According to data from...
Cryptocoins News / The Cointelegraph β - 1 year ago
Bitcoin and select altcoins are close to breaking out of their overhead resistance levels, indicating that bulls remain in control of the crypto market. Bitcoin (BTC)...
Bitcoin News / Bitcoin.com - 1 year ago
Xrp climbed to its highest level since last May, as bullish sentiment returned to cryptocurrency markets. The token rose by as much as 17% in Wednesday’s session, with the global market cap over 5% higher. Cardano also rallied, rising by over...
Cryptocoins News / The Cointelegraph β - 1 year ago
A U.S. regulator called Bitcoin, Ether and Litecoin commodities in its court filing against Binance; it did not mention XRP anywhere. XRP (XRP) outperformed its top-ra...
Cryptocoins News / CoinJournal - 1 year ago
Bitcoin has recovered from lows of $26,690 reached after Binance-related regulatory news.
XRP has outperformed after breaking above $0.50, while Ethereum reclaims $1,800.
Bitcoin faces tough resistance at $28k-$30k.
Bitcoin price is back above $28,...