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 - 2 years ago
Ripple’s XRP has gained by 4% in 24 hours.
Most cryptocurrencies are having relief rallies.
Technical indicators suggest that the XRP relief rally could continue in the short term.
After staging a bear market for a week, Ripple’s...
Bitcoin News / Google News Bitcoin - 2 years ago
Bitcoin BTC , ethereum and other major cryptocurrencies have bounced from June lows after a brutal crypto crash.
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The b...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and altcoins have held their immediate support levels, suggesting the start of a relief rally in the short term. The crypto markets have remained relatively st...
Bitcoin News / Bitcoin.com - 2 years ago
After selling billions of xrp tokens since 2014, the former Ripple Labs executive Jed McCaleb only has 81.53 million xrp left to sell. In mid-February 2021, it was expected that McCaleb’s stash would run dry that year in May. However, the sell...
Cryptocoins News / The Cointelegraph β - 2 years ago
Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulat...
Cryptocoins News / The Cointelegraph β - 2 years ago
Traders expect Bitcoin to swoop below its swing low before the price flattens out and altcoins begin to recover. Bitcoin dropped 56.2% in the second quarter of 2022, a...
Bitcoin News / Bitcoinist - 2 years ago
Blockchain development company Peersyst worked with Ripple in the implementation of the Colombian National Land Registry on top of the XRP Ledger (XRPL). Part of a national initiative to improve the countryβs blockchain capabilities, the announcement...
by COINS NEWS - 2 years ago
Former Ripple Labs founder Jed McCaleb is nearing the end of his eight-year Ripple (XRP) dump marathon, with only 81.53 million XRP, worth $26.55 million at the time of writing, remaining in his walletβs balance.According to Jed Balance, a website tr...
Cryptocoins News / The Cointelegraph β - 2 years ago
The United States equities markets have given back some of the gains made last week and that has pulled Bitcoin to the psychological support at $20,000. This suggests that investors are nervous to buy risky assets at higher levels.Meanwhile, while sp...
Cryptocoins News / NewsBTC - 2 years ago
XRP and other market movers have continued to face the wrath of the bears. The altcoin has fallen considerably over the last 24 hours. It had secured gains over the past week but since the bulls are back, the coin lost what it had gained.
Profit boo...
Cryptocoins News / NewsBTC - 2 years ago
XRP and other market movers have continued to face the wrath of the bears. The altcoin has fallen considerably over the last 24 hours. It had secured gains over the past week but since the bulls are back, the coin lost what it had gained.
Profit boo...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and altcoins are facing profit-booking after the recent relief rally, but charts suggest that a revisit to recent swing lows could be in store. Bitcoinβs (BTC)...
Cryptocoins News / CoinJournal - 2 years ago
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial...
Cryptocoins News / NewsBTC - 2 years ago
XRP has been moving laterally over the last few days and the price has steadied at $0.36. After facing consistent resistance at the $0.35 price mark, the coin finally managed to move past the aforementioned price ceiling.
The altcoin has been tradin...
by COINS NEWS - 2 years ago
Jed McCaleb initially has eight billion XRP given to him for his initial work with a past project that is now named Ripple. He left Ripple to work on Stellar (XLM) in 2014, and ever since he has been dumping his XRP tokens in the market, but no...
Cryptocoins News / The Cointelegraph β - 2 years ago
A handful of on-chain metrics suggest that Bitcoin could be close to bottoming, and if true, the eventual relief rally could induce sharp gains from altcoins. The Unit...
Bitcoin News / Bitcoin.com - 2 years ago
XRP rose by nearly 15% during today’s session, climbing to its highest point in over a week in the process. This rise in momentum within the crypto market also saw AVAX hit a 12-day high, following a gain of over 11% on Friday.
XRP
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Cryptocoins News / CoinJournal - 2 years ago
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial...
Cryptocoins News / CoinJournal - 2 years ago
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial...