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
XRP has stalled for the last 3 weeks
The price has been tied to the crypto sentiment and case with SEC
Garlinghouse expects a “breakthrough” in crypto regulation in 2023
Ripple (XRP/USD) trades around $0.33, a level it started for...
Bitcoin News / Google News Bitcoin - 1 year ago
Markets: Bitcoin, Ether little changed; Polygon, XRP lead losers; Cardano holds onto gains& & Yahoo Finance
Cryptocoins News / The Cointelegraph β - 1 year ago
Bitcoin and select altcoins are showing signs of starting a sustained recovery over the next few days. Gold made a strong start to the new year and is trading close t...
Bitcoin News / Bitcoinist - 1 year ago
Ripple CTO David Schwartz and self-proclaimed Bitcoin inventor Craig Wright clashed for the first time around the Christmas holidays in a verbal altercation on Twitter. As Bitcoinist reported, the dispute ended with Schwartz ignoring his counterpart...
Cryptocoins News / The Cointelegraph β - 1 year ago
The DXY has turned bearish and that could prove to be a boon for SPX, cryptocurrency and Bitcoin. The S&P 500 index (SPX) fell 19.4% and the Nasdaq nosedived 33.1%...
Cryptocoins News / The Cointelegraph β - 1 year ago
Bitcoin and select altcoins remain under pressure as bounces off support levels are being sold into. Investors have faced a tumultuous year in 2022 as stocks, bonds,...
Bitcoin News / Bitcoinist - 1 year ago
Whoever thinks of XRP in 2022 will probably first think of the Ripple court case with the U.S. Securities and Exchange Commission (SEC), which is approaching its grand finale in the upcoming months. But there is also news about XRP that concerns the...
Cryptocoins News / The Cointelegraph β - 1 year ago
Bitcoin and select altcoins have turned down from overhead resistance levels, indicating that bears remain in control. Gold has been an outperformer in 2022 compared t...
Cryptocoins News / CoinJournal - 1 year ago
ReFi is a regenerative, stable approach to navigating the financial system&
In the new financial system, one can address climate change&
Xrp Classic has been audited by leading security firm SolidProof
After its launch, Xrp Classic is i...
Cryptocoins News / CoinJournal - 1 year ago
XRP price has remained tied to the ongoing Ripple case with SEC
SEC recently filed a motion to restrict the Hinman documents
$0.40 is the level to watch on the bull side or $0.30 on the bear side
Ripple (XRP/USD) has been on a short recovery...
Cryptocoins News / CoinJournal - 1 year ago
The Republic of Palau is working with Ripple Labs to explore the creation of a national stablecoin.
XRP is up by more than 5% today and could rally higher soon.
The total cryptocurrency market cap stands above $813 billion.
Ripple Labs partne...
Cryptocoins News / The Cointelegraph β - 1 year ago
The S&P 500 may try to move up in the short term and that could trigger a recovery in Bitcoin and select altcoins. The cryptocurrency markets are trading at record...
Bitcoin News / Google News Bitcoin - 1 year ago
Cryptocurrency Prices Today: Bitcoin (BTC) Drops 0.14%, Ethereum (ETH) Falls 0.47%, Ripple (XRP) Gains 0.10%& & Outlook India
Cryptocoins News / The Cointelegraph β - 1 year ago
Bitcoin and most major altcoins are trading close to their overhead resistance levels, increasing the likelihood of an upward push. Bitcoin (BTC) is on track to end th...