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 been trading at or slightly below the $0.4 resistance
Gene Hoffman expects SEC to win the case against Ripple
XRP awaits further triggers for a breakout or drop
Ripple (XRP/USD) is still in waiting mode. The cryptocurrency clings to t...
by COINS NEWS - 1 year ago
Longtime CNBC host Jim Cramer has offered a scathing critique of cryptocurrencies during his Thursday appearance on "Squawk Box," describing the whole thing as a "gigantic" con. "The whole thing seems so bottomless that I don...
Cryptocoins News / CoinJournal - 1 year ago
Ripple (XRP) has been falling sharply due to ongoing regulatory uncertainty surrounding the coin. In contrast, investors are showing an increased interest in Metacade (MCADE).
Metacade is selling out in the presale as investors flock to Web3 gaming,...
Cryptocoins News / The Cointelegraph β - 1 year ago
The current weakness in BTC and major altcoins shows that investor sentiment remains negative and that bears are active at higher levels. The FTX crisis kept the pric...
Cryptocoins News / CoinJournal - 1 year ago
XRP has been trading on a short-term uptrend
The cryptocurrency is facing pressure at the $0.40 resistance
Watch for the daily candlestick close for confirmation of a bearish move
Ripple (XRP/USD) looked poised for a breakout at $0.40. The cr...
Bitcoin News / Google News Bitcoin - 1 year ago
Peter Schiff And Jim Cramer Present Their Doom Scenarios For Bitcoin, Cardano, XRP, Dogecoin& & newsbtc.com
Cryptocoins News / The Cointelegraph β - 1 year ago
An AI chatbot alleged Ripple can secretly control its blockchain through an undisclosed backdoor in the networkβs code and has been ridiculed by the firmβs chief technology officer....
Cryptocoins News / The Cointelegraph β - 1 year ago
Crypto markets appear to be losing some of their recent bullish momentum, but a favorable tailwind from equities markets could catalyze a breakout in Bitcoin and select altcoins....
by COINS NEWS - 1 year ago
The SEC sued Ripple (XRP) expressing XRP is a security. By not registering their sales with the SEC supposedly Ripple broke the law. That will be determined in court. Hopefully we will hear the results of that by early 2023 or the first half of 2023....
Cryptocoins News / CoinJournal - 1 year ago
Crypto lawyer expects a sweeping ruling in Ripple case with SEC
XRP has met resistance at $0.40
The cryptocurrency is bullish but needs a breakout for further gains
Ripple (XRP/USD) has been trading on short-term bullish momentum but within a...
Cryptocoins News / The Cointelegraph β - 1 year ago
Bitcoin and altcoins are beginning to flash signals of a potential trend change, but a handful of downside risks remain. Non-farm payrolls in the United States rose b...
Cryptocoins News / The Cointelegraph β - 1 year ago
BTC and many altcoins are kicking up dust after the Federal Reserve chairman Jerome Powell discussed the possibility of smaller rate hikes in 2023, but is the momentum sustainable?...
Cryptocoins News / EthereumWorldNews - 1 year ago
Coinbase will delist XRP on 5 December, 2022The crypto giant will stop supporting BCH, ETC, and XLM as well.Low usage has been cited as the reason for this move.This news had minimal impact on the prices of these tokens.&
As of 5 December 20...
by COINS NEWS - 1 year ago
The crypto wallet plans to stop support for the four tokens on Dec. 5, but added any remaining funds would still be tied to users' existing addresses. Starting on Dec. 5, the Coinbase Wallet will no longer support four major tokens. In a N...
Bitcoin News / Google News Bitcoin - 1 year ago
Coinbase Wallet to End Support for Bitcoin Cash, Ethereum Classic, Ripple's XRP and Stellar's XLM& & CoinDesk
Cryptocoins News / The Cointelegraph β - 1 year ago
The crypto wallet plans to stop support for the four tokens on Dec. 5, but any remaining funds will still be tied to users' existing addresses. Coinbase Wallet will no...
Cryptocoins News / The Cointelegraph β - 1 year ago
Turmoil in China, concerns over the global economy and BlockFiβs bankruptcy filing are all weighing on crypto markets this week. China witnessed a spike in COVID-19 ca...
Bitcoin News / Bitcoin.com - 1 year ago
Dogecoin was down by as much as 10% to start the week, as the token retreated from Sunday’s high. The meme coin raced to a three-week high over the weekend, however bulls appeared to have abandoned their positions, opting to secure profits. Xr...