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.
Bitcoin News / Google News Bitcoin - 1 year ago
XRP surpasses Bitcoin as the most traded asset in South Korea following partial win against SEC& & FXStreet
Bitcoin News / Google News Bitcoin - 1 year ago
‘We Can Rally Now’—The Fed’s $15 Trillion Reason Behind This Crypto Legend’s Sudden Flip After Huge XRP Bombshell Triggered A Bitcoin And Ethereum Price Boom& & Forbes
Cryptocoins News / CoinStats - 1 year ago
The crypto markets are showing signs of entering a bullish phase, marking a significant turnaround after enduring nearly two challenging years characterized by a bearish market, project failures, and exchange collapses. Since the beginning of 2023,...
Bitcoin News / Google News Bitcoin - 1 year ago
Bitcoin, Ethereum, Dogecoin Trade Mixed After XRP Rally Simmers Down: Analyst Predicts $50K Level For Kin& & Benzinga
Bitcoin News / Bitcoin.com - 1 year ago
U.S. Securities and Exchange Commission Chairman Gary Gensler has stated that the regulator is “disappointed” with the SEC v. Ripple ruling on XRP regarding retail investors. “We are still looking at it and assessing...
Bitcoin News / Bitcoinist - 1 year ago
The recent ruling in favor of XRP has dispelled any negative regulatory challenges it had been facing, resulting in a head-turning rally over nearly 100% in 24 hours.
Enough people are now paying attention to Ripple’s cryptocurrency, that it’s starti...
Bitcoin News / Google News Bitcoin - 1 year ago
Why XRP Is Poised To Wildly Outperform Bitcoin And Ethereum | Bitcoinist.com& & BitcoinistThis Week in Coins: XRP Leads Alt Week as Solana, Cardano and Polygon Outperform Bitcoin and Ethereum& & DecryptBitcoin Tumbles Below $30K, Crypto Prices Buckle...
Bitcoin News / Bitcoinist - 1 year ago
Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), addressed the XRP case and the recent verdict. A U.S. court ruled that the token is not a security, granting a win for payment company Ripple.
Related Reading: Ripple CEO Ga...
Bitcoin News / Bitcoinist - 1 year ago
Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), addressed the XRP case and the recent verdict. A U.S. court ruled that the token is not a security, granting a win for payment company Ripple.
Related Reading: Ripple CEO Ga...
Bitcoin News / Bitcoinist - 1 year ago
Following Ripple’s recent legal win against the U.S. Securities and Exchange Commission (SEC), the crypto community is abuzz with speculation about possible appeals and their potential impact on XRP investors.
On July 13, Judge Analisa Torres...
Cryptocoins News / The Cointelegraph - 1 year ago
XRP gained 1% over Bitcoin in volume between June 17 and July 17, with U.S. exchanges listing it again and international support never failing, Kaiko found. The July...
Cryptocoins News / The Cointelegraph - 1 year ago
Bitcoin bulls have failed to step in, increasing the chance for a retest of the $29,500 support. Bitcoin remains stuck inside a narrow range, making it difficult to pr...
by COINS NEWS - 1 year ago
So Gary Gensler was asked about XRP ruling at the press conference and it is the first words he said about since the ruling was done. Here is a 1 minute video of his answer: https://twitter.com/AltcoinDailyio/status/1681002052221108224 Basically says...
Cryptocoins News / The Cointelegraph - 1 year ago
A July 13 court ruling in Ripple’s legal battle with the SEC suggested XRP may not necessarily be a security, a decision that has already made significant waves in the space....
Bitcoin News / Bitcoinist - 1 year ago
In a recent interview with CNBC, Ripple’s Chief Legal Officer (CLO), Stuart Alderoty, expressed his optimism about American banks and financial institutions returning to using the XRP token for cross-border transactions. The positive outlook fo...