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.
by COINS NEWS - 2 years ago
The Ripple CEO certainly went hard in his recent speech. You can take a look at it here: https://twitter.com/bgarlinghouse/status/1669805367688331267?s=20 In it he makes some very strong allegations, such that former SEC director "Hinman receive...
by COINS NEWS - 2 years ago
The Ripple CEO certainly went hard in his recent speech. You can take a look at it here: https://twitter.com/bgarlinghouse/status/1669805367688331267?s=20 In it he makes some very strong allegations, such that former SEC director "Hinman receive...
Bitcoin News / Google News Bitcoin - 2 years ago
Top Bitcoin Maxi Downplays Impact of Hinman Emails, Foresees SEC Winning Against XRP and ETH& & Coinpedia Fintech News
Bitcoin News / Bitcoinist - 2 years ago
John Deaton, the lawyer representing XRP holders, recently ignited a discussion on Twitter that delved into the vast potential of Bitcoin. He posed an intriguing question, contemplating whether the cryptocurrency could one day rival the market capita...
Bitcoin News / Google News Bitcoin - 2 years ago
Bitcoin expert: It's a matter of when, not if XRP 'Ponzi' gets cut down by SEC& & Finbold - Finance in Bold
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin price looks ready to turn $31,000 to support, and many altcoins are following with double-digit gains. The rush to apply for a spot Bitcoin (BTC) exchange-trad...
Bitcoin News / Google News Bitcoin - 2 years ago
Crypto Price Today: Bitcoin holds $30,000; Ethereum slips below $1,900; BNB, Solana & XRP fall up to 5%& & Business Today
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin’s price surged to $31,000 as a handful of BTC spot ETF applications and Fed Chair Jerome Powell’s views on stablecoins appear to have improved crypto investors’ view of the market...
by COINS NEWS - 2 years ago
Ripple (XRP), a prominent cryptocurrency and blockchain company, is engaged in a legal battle with the United States Securities and Exchange Commission (SEC). The SEC claims that XRP is a security and that Ripple has been engaging in the sale of unre...
by COINS NEWS - 2 years ago
Guess what? After largest asset manager in the world, BlackRock filed for an Bitcoin ETF, it sparked the whole industry as everyone started following the big guy's footsteps. In the weeks following BlackRock's filing, a number of other compan...
by COINS NEWS - 2 years ago
Guess what? After largest asset manager in the world, BlackRock filed for an Bitcoin ETF, it sparked the whole industry as everyone started following the big guy's footsteps. In the weeks following BlackRock's filing, a number of other compan...
by COINS NEWS - 2 years ago
Guess what? After largest asset manager in the world, BlackRock filed for an Bitcoin ETF, it sparked the whole industry as everyone started following the big guy's footsteps. In the weeks following BlackRock's filing, a number of other compan...
Bitcoin News / Google News Bitcoin - 2 years ago
‘A New Wave’—Major Bank Reveals A $15 Trillion Earthquake Could Be Headed For The Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Tron, Solana And Polygon Price& & Forbes
Bitcoin News / Bitcoinist - 2 years ago
While the International Monetary Fund (IMF) announced that it is working on a platform for digital central bank currencies (CDBCs) yesterday, the XRP army has discovered an IMF report from March 2023 in which Ripple is considered a potential problem...
Cryptocoins News / The Cointelegraph - 2 years ago
The strength in the S&P 500 and weakness in the U.S. Dollar Index could limit the short-term downside in Bitcoin and select altcoins. The S&P 500 Index (SPX)...