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 / EthereumWorldNews - 1 year ago
Ripple has announced a second wave of creators that have joined its newly launched Ripple Creators Fund.The fund was initially launched to deliver financial and technical assistance to budding NFT creator platforms.
Blockchain giant Ripple is onb...
Cryptocoins News / The Cointelegraph - 1 year ago
The EVM-compatible XRP Ledger sidechain is set to undergo its second phase in early 2023, which will make the chain permissionless and improve scalability. Ripple user...
Bitcoin News / Bitcoin.com - 1 year ago
According to an announcement from Ripple’s core development team Ripplex, developers have introduced the first step toward Ethereum Virtual Machine (EVM) compatibility with the XRP-based sidechain XRPL. The XRPL is now live on Devnet and devel...
Cryptocoins News / The Cointelegraph - 1 year ago
These altcoins are carving out gains as Bitcoin price continues to trade within a tightening range. The United States equities markets have made a bullish start to the...
Cryptocoins News / EthereumWorldNews - 1 year ago
Ripple announced phase one of its EVM sidechain for XRP Ledger developed by Peersyst.
The sidechain will enable the deployment of Ethereum-based smart contracts on Ripple’s XRP Ledger
The EVM-compatible sidechain is currently live on XRP Ledger dev...
Bitcoin News / Bitcoinist - 1 year ago
Back in September, David Schwartz, the Chief Technology Officer (CTO) of Ripple and one of the original architects of the XRP Ledger, presented his thoughts on an Ethereum Virtual Machine (EVM) sidechain. His idea was to enable the execution of Ether...
Cryptocoins News / The Cointelegraph - 1 year ago
A mix of on-chain, fundamental and technical indicators hints at a big XRP price rally in the works. XRP (XRP) has made considerable gains over the past month as trade...
Bitcoin News / Google News Bitcoin - 1 year ago
‘A $28 Trillion Opportunity’—Crypto Braced For A Huge Earthquake As The Price Of Bitcoin, Ethereum, BNB, XRP, Solana, Cardano And Dogecoin Swing& & Forbes
Cryptocoins News / The Cointelegraph - 1 year ago
Buyers could not build upon the strong recovery of Oct. 13, indicating that higher levels continue to attract selling in the U.S. equities markets and Bitcoin. The Uni...
Cryptocoins News / EthereumWorldNews - 1 year ago
55 seasoned crypto analysts and experts believe that XRP could soon break past $3.81 per unit by the end of 2025. 27% of Finder.com’s panellists stated that it’s time to buy XRP, while 38% are in favour of holding XRP and 36% said thats it’s t...
Bitcoin News / Bitcoin.com - 1 year ago
Xrp rebounded from recent drops in price on Friday, as the token surged by nearly 10% in today’s session. Cosmos was another notable gainer, as it snapped a four-day losing streak. Overall, cryptocurrency markets were mostly higher, with the g...
Bitcoin News / Google News Bitcoin - 1 year ago
Finder's Experts Expect XRP to Spike to $3.81 by 2025 if Ripple Wins SEC Lawsuit – Markets and Prices Bitcoin News& & Bitcoin News
Bitcoin News / Bitcoin.com - 1 year ago
Following the recent ethereum price predictions report, 55 crypto and fintech experts chosen by the product comparison web portal, finder.com, shared their forecasts associated with the crypto asset xrp, often referred to as ripple. Finder’s e...
Cryptocoins News / CoinJournal - 1 year ago
Stellar and Ripple are two of the biggest payment-focused cryptocurrencies in the world. Ripple’s XRP has a market cap of over $25 billion while Stellar’s XLM is valued at over $2.5 billion. Another similarity between the two is that Stel...
Cryptocoins News / NewsBTC - 1 year ago
Ripple struggled to clear the $0.550 resistance against the US Dollar. XRP price is now moving lower and might drop further similar to bitcoin.
Ripple faced a strong selling interest near the $0.55 zone against the US dollar.
The price is now tradin...
Bitcoin News / Bitcoin.com - 1 year ago
Ripple CEO Brad Garlinghouse says he thinks “we’ll have an answer in the first half of next year” in the U.S. Securities and Exchange Commission (SEC) lawsuit over xrp. Maintaining that xrp is not a security, the executiv...
Cryptocoins News / The Cointelegraph - 1 year ago
Bitcoin and most altcoins are likely to witness a pick in volatility following the CPI print on October 13. The United States Federal Reserve has been aggressively hik...
Cryptocoins News / NewsBTC - 1 year ago
XRP price slows down after several days as price remains bullish despite showing weakness.
XRP trades above 50 and 200-day Exponential Moving Average as price struggles to regain bullish signs with the emergence of bearish divergence.
The price of...
Cryptocoins News / The Cointelegraph - 1 year ago
Optimistically speaking, Brad Garlinghouse thinks the case will be concluded in three to four months, though it could take longer. According to Ripple CEO Brad Garlin...