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
HSBC recently released a document titled “Distributed Ledger Technology in the Capital Markets Game Changers – Future Trends in Securities Services.” In this document, HSBC had a section of "Digital Ledger Technologies" in capital mar...
by COINS NEWS - 2 years ago
HSBC recently released a document titled “Distributed Ledger Technology in the Capital Markets Game Changers – Future Trends in Securities Services.” In this document, HSBC had a section of "Digital Ledger Technologies" in capital mar...
by COINS NEWS - 2 years ago
I strongly believe that the omission was a deliberate act, suggesting that there may be an ongoing connection between the Ripple lawsuit and other events occurring this month. One of these events is the scheduled release of the Hinman emails by the S...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin and most major altcoins are facing selling at higher levels, but there are no signs of panic selling at the moment. Bitcoin and altcoins have been volatile in...
Bitcoin News / Bitcoinist - 2 years ago
Prominent lawyer and pro-XRP advocate, John Deaton, has recently weighed in on the ongoing regulatory crackdown against the cryptocurrency industry, specifically about the recent complaint filed by the Securities and Exchange Commission (SEC) against...
Bitcoin News / Google News Bitcoin - 2 years ago
Crypto Now Braced For Another SEC Bombshell That Could Create Chaos For The Price Of Bitcoin, Ethereum, BNB And XRP& & Forbes
Bitcoin News / Google News Bitcoin - 2 years ago
Ripple News : Expert Predicts XRP Price to Outperform Bitcoin, Setting a Bullish Target& & Coinpedia Fintech News
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin and several altcoins took a beating on reports that the SEC filed a suit against Binance in U.S. district court. Bitcoin and altcoins witnessed a sharp sell-of...
Bitcoin News / Bitcoin.com - 2 years ago
Although the crypto economy has dipped 1.5% in value over the past 24 hours, XRP, the sixth-largest digital asset by market capitalization, has posted gains recently. In the last week alone, XRP has surged over 10%, and year-to-date, this digital cur...
Bitcoin News / Bitcoin.com - 2 years ago
XRP remained near a multi-month high to start the week, despite cryptocurrency markets mostly tracking lower. The global market cap has fallen by 1.58% as of writing, due to today’s red wave. Litecoin was a notable token to fall, dropping by n...
Cryptocoins News / The Cointelegraph - 2 years ago
Attorney John Deaton says there’s a 25% chance Ripple will see an outright win against the Securities and Exchange Commission, while rumors fly of a possible Ripple IPO....
Cryptocoins News / The Cointelegraph - 2 years ago
Lawyer John Deaton alerted followers via his daughter’s account, urging people to report the hack as the XRP community responded, spreading awareness. Pro-XRP lawyer,...
Bitcoin News / Google News Bitcoin - 2 years ago
Congress Introduces A Game-Changing Crypto Bill Amid $350 Billion Bitcoin, Ethereum, BNB And XRP Price Pump& & Forbes
Bitcoin News / Google News Bitcoin - 2 years ago
Analytics Firm Santiment Says Bitcoin To Catch Up With Rallying Stocks, Updates Outlook on XRP and Litecoin& & The Daily Hodl
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin and most major altcoins are witnessing subdued price action, indicating a lack of buying interest from the larger players. The United States equities markets r...