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 - 1 year ago
If Ripple Labs and the SEC reach a settlement agreement in the XRP lawsuit, it could have a significant impact on the crypto market. Here are some potential affects i can think of: XRP price could surge: If the SEC drops the lawsuit or rea...
Bitcoin News / Bitcoin.com - 1 year ago
Xrp rose higher in Tuesday’s session, as prices continued to move away from a long-term support point. Overall, sentiment in cryptocurrencies remained largely bearish, with the global market cap down 0.34% as of writing. Polygon was also in th...
Cryptocoins News / The Cointelegraph β - 1 year ago
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Bitcoin News / Google News Bitcoin - 1 year ago
Crypto Price Today: Bitcoin holds $22,000; XRP, Solana, Dogecoin, Shiba Inu shed up to 3%& & Business Today
Bitcoin News / Bitcoin.com - 1 year ago
The CEO of Ripple Labs has warned of the harm to the crypto industry if the U.S. Securities and Exchange Commission (SEC) is able to prevail in its lawsuit against Ripple over xrp. He cautioned that the SEC’s enforcement-centric approach to re...
Bitcoin News / Google News Bitcoin - 1 year ago
Ripple CEO Warns of Harm to Crypto Industry if SEC Wins Lawsuit Over XRP β Regulation Bitcoin News& & Bitcoin News
Bitcoin News / Google News Bitcoin - 1 year ago
$100 Billion Game-Changer: Crypto Could Be Heading Into Its Biggest Week Ever After Wild Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana Price Swings& & Forbes
Bitcoin News / Bitcoin.com - 1 year ago
Xrp rebounded from a two-month low to start the weekend, as prices moved back above a key support point. The token, which fell to its lowest point since January on Friday, rose by as much as 2% on Saturday. Cardano also recovered yesterday’s l...
Cryptocoins News / The Cointelegraph β - 1 year ago
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Cryptocoins News / The Cointelegraph β - 1 year ago
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Cryptocoins News / The Cointelegraph β - 1 year ago
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Bitcoin News / Google News Bitcoin - 1 year ago
Crypto Now Primed For A Massive Fed Bombshell That Could Play Havoc With The Price Of Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana& & Forbes
Cryptocoins News / The Cointelegraph β - 1 year ago
Strong inflation data has pulled Bitcoin and select altcoins below their immediate support levels, signaling a few days of corrective action. Bitcoin is struggling to...
Bitcoin News / Google News Bitcoin - 1 year ago
Dogecoin (DOGE), Bitcoin (BTC), Ethereum (ETH) and XRP Whales Move Over $790,000,000 Worth of Crypto in 24 ...& & The Daily Hodl
Bitcoin News / Bitcoin.com - 1 year ago
Software engineers and members of the development lab Ripplex want to create a cross-chain bridge for the XRPL network to bolster cross-chain transfers between different blockchain networks. According to a recent Github draft, the proposal outlines h...
Cryptocoins News / CoinJournal - 1 year ago
Ripple’s rally lags behind other cryptocurrencies’ rallies for 2023
A bullish flag pattern suggests more upside
Once the bullish flag is confirmed, a double bottom pattern projects the price even higher
Ripple rallied against the US do...
Cryptocoins News / The Cointelegraph β - 1 year ago
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Bitcoin News / Google News Bitcoin - 1 year ago
Bitcoin And Crypto Now Braced For A China Earthquake After $100 Billion Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana Price Rally& & Forbes