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 - 3 years ago
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Cryptocoins News / The Cointelegraph - 3 years ago
Traders expect altcoins to move higher now that Bitcoin price finally pierced the $41,000 resistance. Bitcoin (BTC) and most major altcoins seem to be faltering near...
Cryptocoins Exchanges / Binance - 3 years ago
I’m trying to sell my xrp to GBP then withdraw but binance won’t let me … what can I do ? Coinbase doesn’t trade XRP ! submitted by /u/Distinct-Security [link] [comments]
Cryptocoins Exchanges / Binance - 3 years ago
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Cryptocoins News / NewsBTC - 3 years ago
Payment’s solution company Ripple revealed the launch of a new corridor between Japan and the Philippines. This is the company’s first On-Demand Liquidity (ODL), a payment solution leveraging token XRP, in Japan.
The corridor has been launched in col...
Cryptocoins News / The Cointelegraph - 3 years ago
Bitcoin's defense of the $38,000 level and renewed interest from institutional investors could be a sign that the bull trend is resuming. Bitcoin (BTC) and most major...
Bitcoin News / Bitcoin.com - 3 years ago
Ripple has launched its first On-Demand Liquidity (ODL) service implementation in Japan in partnership with SBI Remit, a large Japanese money transfer provider, and Philippine crypto exchange Coins.ph.
Ripple, SBI, Coins.ph Collaborate to Launch Ripp...
Cryptocoins News / The Cointelegraph - 3 years ago
Ripple’s XRP token is in the middle of a bullish breakout, which could open the door to $1 next. XRP’s price swung higher on Wednesday as its parent company, Ripple, e...
Cryptocoins News / CoinJournal - 3 years ago
Ripple has launched new features recently and appears to have the upper hand in its SEC case, and has been buoyed by the crypto market’s upward momentum
Ripple (XRP) is up 17% on the day, easily one of Wednesday’s best performers in the l...
Cryptocoins Exchanges / Binance - 3 years ago
I don’t understand what is the difference between someone that own the token of the project like xrp and someone that is a shareholders of the company that make the token ? Does the shareholders as more power and can vote for something that the holde...
Cryptocoins Exchanges / Binance - 3 years ago
I don’t understand what is the difference between someone that own the token of the project like xrp and someone that is a shareholders of the company that make the token ? Does the shareholders as more power and can vote for something that the holde...
Cryptocoins Exchanges / Binance - 3 years ago
I don’t understand what is the difference between someone that own the token of the project like xrp and someone that is a shareholders of the company that make the token ? Does the shareholders as more power and can vote for something that the holde...
Cryptocoins Exchanges / Binance - 3 years ago
I don’t understand what is the difference between someone that own the token of the project like xrp and someone that is a shareholders of the company that make the token ? Does the shareholders as more power and can vote for something that the holde...
Cryptocoins News / The Cointelegraph - 3 years ago
Traders are hopeful that Bitcoin’s bounce from $29,000 to $40,000 and the strong rally seen in altcoins is a signal that the bull market has resumed. Bitcoin (BTC) so...
Cryptocoins News / The Cointelegraph - 3 years ago
Bitcoin and most major altcoins are meeting resistance at higher levels but the bearish sentiment of the last two months seems to be reducing. Bitcoin’s (BTC) recovery...
Cryptocoins Exchanges / Binance - 3 years ago
I used to just send USD but it’s a little expensive with all the fees. Is this possible and would it be a lot cheaper? submitted by /u/yrmansabanga [link] [comments]
Cryptocoins News / The Cointelegraph - 3 years ago
The strong recovery in Bitcoin and altcoins shows there is aggressive buying at lower levels but bears are unlikely to give up without a fight. Bitcoin (BTC) is leadi...
Cryptocoins News / The Cointelegraph - 3 years ago
Analysts and traders prepare for the worst after Bitcoin price broke below $31,000 and triggered a sell-off in major altcoins. Bitcoin (BTC) broke below the immediate...
Cryptocoins News / The Cointelegraph - 3 years ago
Bitcoin bulls defended the $31,000 level again, but data shows demand for BTC and altcoins is weak and this heightens the chase of further downside. Bitcoin (BTC) is...
by COINS NEWS - 3 years ago
What is the general feeling towards XRP here? With the ongoing SEC case is the risk greater than the potential reward, or are we looking at an untapped gold mine with the case looking favourable toward the XRP/Ripple team? I guess no one really knows...
Cryptocoins Exchanges / Binance - 3 years ago
Hi , It is impossible to withdraw XRP in Binance using XRP chain because they ask in Binance a tag memo while XRP doesn’t require one .. the only possibility is to use BSC2 or BSC20 … can somebody tell me why please . submitted by /u/Cr...
Cryptocoins News / CoinJournal - 3 years ago
All along, the XRP team has maintained that the cryptocurrency should not be treated as a security, citing the ex-SEC official’s comments on ETH.
Ripple has been allowed to question William H. Hinman, an ex-director of the US Securities and Exc...
Cryptocoins News / The Cointelegraph - 3 years ago
Bitcoin and most major altcoins are bouncing off strong support levels, indicating possible accumulation by the bulls. Bitcoin (BTC) has once again held the critical s...
Cryptocoins News / The Cointelegraph - 3 years ago
Bitcoin price is drifting lower, pulling altcoins to critical support levels and testing the resolve of traders who were looking for a bullish reversal. Bitcoin’s (BTC...