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
Despite the cryptocurrency bear market, there were some flashes of hope for the major coins. Traders had high expectations with the Ethereum Merge and that helped to spur gains in Ethereum Classic (ETC). For Ripple (XRP) it was the potential end to t...
Cryptocoins News / The Cointelegraph β - 1 year ago
Bitcoin and most major altcoins are witnessing a relief rally but higher levels are likely to attract strong selling by the bears. FTXβs collapse dealt a major blow to...
Bitcoin News / Bitcoin.com - 1 year ago
Xrp rallied to a three-week high on Friday, breaking out of a long-term resistance level in the process. The token rose to its highest level since early November, as prices surged for a fifth straight session. Dogecoin also hit a multi-week high, ris...
Cryptocoins News / CoinJournal - 1 year ago
XRP is the best performer amongst the top 10 cryptocurrencies by market cap.
The rally comes after Ripple revealed that STASIS had integrated its XRPL technology.
XRP could surge toward the $0.50 resistance level in the near term.&
XRP o...
Cryptocoins News / CoinJournal - 1 year ago
Lawyers expect Ripple vs. SEC case to end soon
XRP trades in a short-term ascending trendline
The cryptocurrency eyes a breakout
Are you wondering when the Ripple case with the SEC will end? Probably, too soon, according to Australian crypto...
Cryptocoins News / The Cointelegraph β - 1 year ago
Crypto markets have started the week on a weak note, suggesting that buyers remain skeptical about buying any significant dips. Continued selling in the cryptocurrency...
Cryptocoins News / CoinJournal - 1 year ago
Ripple (XRP/USD) trades at $0.35. a decline of 7% in the day. For another time, the cryptocurrency was rejected at the $0.4 resistance. However, it should be remembered that positive developments of the Ripple case with SEC were a significant bull tr...
Cryptocoins News / CoinJournal - 1 year ago
LuLu Financial Holdings, a company based in Abu Dhabi with a number of financial service investments in the APAC region, was distinguished as the best Network Accelerator in the respective category at Ripple’s annual Swell Conference’s Bl...
Bitcoin News / Google News Bitcoin - 1 year ago
Crypto Price Today Live: Bitcoin slips below $16K; Dogecoin, XRP, Polygon tank up to 12%& & The Economic Times
Cryptocoins News / The Cointelegraph β - 1 year ago
Bitcoin and select altcoins are struggling to rise above their immediate resistance levels, indicating that the bears remain in full control. The sentiment across the...
Bitcoin News / Bitcoinist - 1 year ago
Just yesterday, the Ripple Swell conference wrapped up, with CEO Brad Garlinghouse announcing massive milestones for the adoption of RippleNet and On-Demand Liquidity (ODL). One of the main focuses of the conference was on the development of Central...
by COINS NEWS - 1 year ago
Please also check the edit at the bottom for an update regarding lack of proof of reserves on the stables on BNB as well: TLDR: Binance fails to provide adequate proof of reserves for assets in the BNB chain. Binance encourages users to withdra...
Cryptocoins News / The Cointelegraph β - 1 year ago
The recovery in BTC and altcoins fizzled out fast, suggesting that investors continue to maintain a risk-off stance to all cryptocurrencies. The collapse of the FTX cr...
Cryptocoins News / NewsBTC - 1 year ago
Data shows an XRP whale has made a massive withdrawal of $134 million from Binance, something that could prove to be bullish for the price of the crypto.
Whale Transfers $135 Million In XRP Out Of Crypto Exchange Binance
As per data from the crypto t...
Cryptocoins News / NewsBTC - 1 year ago
Shiba Inu (SHIB) and XRP have shown strength in the present recovery in the market. The crypto market decline had been triggered by the FTX collapse, and even now, the negative effects are still being felt all across the space. However, it has also b...
Cryptocoins News / NewsBTC - 1 year ago
The XRP price cannot escape the broader market sentiment at the moment and was trading at $0.3781 at press time. With this, XRP was unable to defend yesterday’s gains of over 9%, and continues to show itself trapped in a price channel between $...
Cryptocoins News / CoinJournal - 1 year ago
Ripple token (XRP) continues to send clear signals. It is ready for takeoff once it is confirmed that XRP is not a security, as alleged by the US SEC. On Tuesday, the token surged by 10%, becoming the top gainer among its peers. The gains come after...
Bitcoin News / Bitcoin.com - 1 year ago
Uniswap rose to a one-week high in today’s session, as crypto markets seemed to have settled following recent turbulence. The last seven days were filled with increased levels of fear, uncertainty, and doubt in the marketplace, as participants...