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 / 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...
Bitcoin News / Bitcoin.com - 1 year ago
Cardano climbed for a second consecutive session on Dec. 23, as the token surged to its highest point since Monday. Overall, crypto prices were marginally higher as of writing, with the global market cap currently up 0.49%. Xrp, formerly known as rip...
Cryptocoins News / The Cointelegraph β - 1 year ago
Learn what Wrapped XRP is and how to use wXRP on blockchains other than Rippleβs XRP Ledger. Wrapped XRP (wXRP) is a crypto asset pegged to XRP (XRP) and can be used...
Cryptocoins News / CoinJournal - 1 year ago
XRP has been correcting as the SEC case drags
Whales have been accumulating the cryptocurrency
XRP could continue sliding to find support at $0.30
Ripple (XRP/USD) enthusiasts have been anxious for the past weeks. As investors awaited a possi...
Bitcoin News / Bitcoinist - 1 year ago
Data shows an XRP whale has withdrawn $52 million in the token from Binance, something that might help the crypto turn around from its recent bearish trend.
XRP Remains Weak, Declines Another 10% During Past Week
This month of December hasn’t b...
Cryptocoins News / CoinJournal - 1 year ago
XRP whales and sharks bought more coins in December to bring total addresses and percentage of supply to new highs.
Large holders appear strongly bullish on the coin’s price, despite Ripple Labs’ ongoing battle with regulators.
There are...
Cryptocoins News / The Cointelegraph β - 1 year ago
Bitcoin and select altcoins are showing signs of a possible recovery in the near term but higher levels may continue to attract sellers. As the year comes to an end, i...
Bitcoin News / Bitcoinist - 1 year ago
Data shows XRP whales have deposited around $32 million in the token to crypto exchange Coinbase, a sign that could lead to further decline in the asset’s price.
Whales Transfer $32 Million In XRP To Coinbase
As per data from the crypto transac...
Bitcoin News / Google News Bitcoin - 1 year ago
Crypto Price Today Live: Bitcoin below $17,000; XRP, Shiba Inu and Dogecoin drop up to 3%& & Economic Times
Bitcoin News / Google News Bitcoin - 1 year ago
Trader Who Sold Bitcoin at the Top Returns to Crypto Markets, Accumulating BTC, Ethereum, XRP and One Addit...& & The Daily Hodl
Bitcoin News / Google News Bitcoin - 1 year ago
Huge $600 Billion 2023 Bitcoin Price Prediction Comes With An Ethereum Upgrade Bet And A Shock Ripple XRP Warning& & Forbes