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
Key takeaways
XRP, XLM and LINK added more than 20% to their values over the past seven days, outperforming Bitcoin.&
Shiba Memu has now raised more than $1 million in its presale.
XRP, XLM and LINK have been the best performers amongst th...
Bitcoin News / Bitcoin.com - 1 year ago
Bitcoin dropped below the $30,000 level on Jul 21, as market sentiment continued to trend lower in today’s session. This comes a week after cryptocurrency markets surged following the XRP ruling, however momentum has since faded as a result of...
Bitcoin News / Bitcoinist - 1 year ago
Bitcoin and Ethereum might be the two top cryptocurrencies by market cap, but according to a “parabolic” high timeframe signal, Litecoin and XRP could soon lead the market higher.
The lack of the technical tool being triggered in BTC and ETH suggests...
Cryptocoins News / The Cointelegraph - 1 year ago
XRP is currently mirroring a trend from April–June 2021 that preceded the price falling by 65% in the following months. The double-digit percentage gains for XRP (XRP)...
Bitcoin News / Google News Bitcoin - 1 year ago
‘A Big Deal’—Ethereum Cofounder Teases New Upgrade That Be A ‘100x’ Game-Changer After XRP-Led Bitcoin And Crypto Price Boom& & Forbes
by COINS NEWS - 1 year ago
https://www.cryptopolitan.com/iso-20022-compliant-crypto-list/ ISO 20022 will replace the SWIFT financial messaging system in the next few years and will pave the way for central bank adoption and use of cryptos. Currently, there is a short but growi...
Bitcoin News / Bitcoinist - 1 year ago
XRP rocketed higher by nearly 100% last week, and is up 8% on the day today following last week’s ruling, revealing the asset is not a security.
The recent surge to the upside has pushed momentum through a six-year long resistance line, according to...
Bitcoin News / Google News Bitcoin - 1 year ago
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Last recourse for BTC and ETH, but XRP will not yield& & FXStreet