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 - 3 years ago
Bitcoin remains strong above its recent breakout level, but several major altcoins will be under pressure until BTC reveals its next move. Bitcoin (BTC) has been susta...
Cryptocoins News / CoinJournal - 3 years ago
The Ripple coin is currently trading at $1.08 and the token could rally soon if the volumes continue to build up in the future. The whales seem to be in accumulation mode and the token’s price could rise higher as the trading volume keeps on ri...
Cryptocoins Exchanges / Binance - 3 years ago
The new era of XRP, MXRP, but SEC proof and ready for takeoff. Only smaller in size, not by impact. | ???? | low MC presale on Oct 29th|100% Doxxed dev | BSC Token | ???? 100x potential ???? Presale will be coming on DxSale on October 29th! ???? ???...
Cryptocoins News / The Cointelegraph β - 3 years ago
Analysts say Bitcoin has started its journey toward a new all-time high and the sideways action from altcoins suggests traders are shifting funds into BTC. Bitcoin (BT...
Cryptocoins News / The Cointelegraph β - 3 years ago
The XRP price chart is painting a golden cross while rising inside an ascending channel. XRP has a good chance of hitting $1.50 in the fourth quarter of 2021 after pai...
by COINS NEWS - 3 years ago
Where are my long time HOLDers at? I am holdin XRP for 3-4 year now. Dont have much, but it is honest work. Just curios how much of you fellow crypto dudes are in XRP. Just opened my binance account and saw XRP going on a steady up trend? Is that be...
Cryptocoins News / The Cointelegraph β - 3 years ago
Bitcoin and select altcoins are facing selling at higher levels, indicating that short-term traders may be booking profits after the recent rally. Bitcoinβs (BTC) rall...
Cryptocoins News / The Cointelegraph β - 3 years ago
Bitcoin has surged above the overhead resistance and that has pulled several altcoins higher. Bitcoin (BTC) skyrocketed above the $1 trillion market capitalizationΒ on...
Cryptocoins News / CoinJournal - 3 years ago
The Ripple (XRP) token has seen strong consolidation near the $1 region and the coin could rally soon if the bulls can push prices in the future
The Ripple coin has seen a marked improvement in volumes in the past 24 hours. The XRP token is currently...
Cryptocoins News / CoinJournal - 3 years ago
The judge however rejected a request seeking to have XRP holders as defendants
A judge in the Ripple versus SEC case has allowed six XRP holders to participate in the lawsuit with amicus status.
On Monday, US District Judge Analisa Torres said that s...
Cryptocoins News / The Cointelegraph β - 3 years ago
The judge ruled that the SEC would be required to launch enforcement actions against each individual XRP holder should they be allowed to participate in the case as defendants....
Cryptocoins News / The Cointelegraph β - 3 years ago
Bitcoin bulls have set their sights on $50,000 and this renewed push is also boosting large and small-cap altcoin prices. Bitcoin (BTC) is facing rejection near $50,00...
Cryptocoins Exchanges / Binance - 3 years ago
Living in UK, thought I would put my XRP into binance earn but the moment I type in my amount and hit subscribe nothing happens, anyone else got this issue? submitted by /u/Savato28 [link] [comments]
Cryptocoins News / The Cointelegraph β - 3 years ago
Historical data suggests that October is a good month for Bitcoin bulls, and the push above $47,600 on Oct.1 could be a signal of what's to come for BTC and altcoins....
Cryptocoins News / The Cointelegraph β - 3 years ago
A week-long pattern of daily lower highs suggests bulls will be unable to flip $43,000 to support and this could weigh on the fledgling recovery seen across many altcoins....
Cryptocoins News / The Cointelegraph β - 3 years ago
Like other large-cap legacy altcoins, XRP is stuck in a rut and data suggests investors are content just to sit and watch. Ripple's (XRP) rallied 72% from Aug. 7 to A...
Cryptocoins Exchanges / Binance - 3 years ago
Anyone else has this problem? The app on computer or on my phone won't let me inveat Ripple for 0.4 % interests or something like that. I can do so with other currenciea. submitted by /u/Asamsin [link] [comments]
Cryptocoins News / The Cointelegraph β - 3 years ago
Bitcoin and most major altcoins have recovered from last weekβs sell-off, but they are still facing selling at higher levels, suggesting that the market could remain range-bound for a few...